Word: funston
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...Governors sifted through more than 100 candidates who knew their way around the Street. Last week, when the governors made their final choice for the $100,000 a year job, they picked a man who is a stranger to most Wall Streeters. The new stock-exchange head: George Keith Funston, 40, president of Hartford's 128-year-old Trinity College, a small Episcopal college little known outside Connecticut...
...Keith Funston knows few Wall Streeters, he does know at least one who counts-Investment Banker Sidney Weinberg, a senior partner of Goldman, Sachs & Co. Weinberg, who brought to Washington many of the businessmen working for Defense Mobilization Boss Charles E. Wilson, also recommended Funston to the exchange. He thought Funston had just the right business and academic background...
...South Dakota banker, Funston worked his way through Trinity, graduated among the top ten of his class at Harvard Graduate School of Business Administration. He was purchasing director of the $20-million-a-year Sylvania Electric Products Inc. when Weinberg brought him into the War Production Board during World War II. Funston spent 2½ years "at the other end of Donald Nelson's buzzer," got on smoothly with top-flight industrialists and Washington politicos...
Last October Funston, an ex-radiator manufacturing and WPB executive, took over the 123-year-old college's presidency. His first businesslike step: to try to take academic control from Trinity's faculty committees. Shepard, implicitly questioning Funston's educational know-how, fought the move as "autocratic." When Funston got the chance to force his outspoken star to resign, he took...
Shepard's many friends among Trinity alumni promptly bombarded Funston with protest telegrams and letters. But Trinity's executive committee, all conservative Hartford businessmen, backed up the president. They have long distrusted Shepard's "radical" notions about banks, utilities and big business...