Word: lithofold
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...last week's news. Before a Senate subcommittee appeared Frank Prince, onetime RFC official who was bounced last May for his part in a paper-company loan (TIME, June 4), and the man who appointed the man who approved RFC's $645,000 loans to the American Lithofold Corp. Prince said that Lithofold had given him a $100 camera, perfume, crates of oranges, a turkey and a "small ham." But Prince knew just where to draw the line. "I don't think there is anything wrong in a box of oranges or a small ham," he said...
...Well-Met Man. Lithofold officials testified that they gave away $4,000 worth of $100 cameras, some of them to Government officials, including Matthew Connelly, secretary to President Truman. However, Lithofold President Robert J. Blauner warmly denied that these gifts were supposed to "influence" anyone; they were made merely for "good will...
Blauner told of hiring James P. Finnegan, a Democratic work horse whose activities as Federal Collector of Internal Revenue in St. Louis are now being probed by a grand jury. Finnegan got $23,000 in commissions from Lithofold and $21,000 for expenses. Asked how he managed to run up $21,000 in expenses, Finnegan replied: "I'd say 'Let's have a little dinner,' and if I went over to the Shoreham, I can spend $800 faster than you think I could spend...
Boyle says that he was a "mere volunteer" for Truman, when in fact, he ran Truman's campaign. His defense in the Lithofold case (like his reply to Senator Smith) is based on the assumption that he cannot be held (legally) accountable for using his influence on behalf of his clients before April 20, 1949, when he became a paid official of the Democratic Party. Boyle tries to make the case turn on whether he was paid by the party when his political influence was used for Lithofold. The point is he was paid by Lithofold...
...Vice President. In New York last week, a third group of investigating Congressmen found another example of how to make money out of politics, and, incidentally, learned more about American Lithofold. While he was chief of the city's Federal Alcohol Tax Unit, James B. E. Olson apparently found time to earn up to $6,000 as a vice president for the energetic St. Louis printing firm. The committee noted that New York liquor concerns whose taxes were collected by Olson gave their label-printing contracts to Lithofold. Quite a week for legality. Not so good a week...