Word: mckinney
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Dates: during 1950-1959
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After a half-hour conference with Harry Truman, Democratic National Chairman Frank E. McKinney bustled out of the White House last week with the air of a hot-eyed reformer. The President, he said, was "angry over being sold down the river by some disloyal employees." There would be "drastic" action soon...
...setting of the stage was enough to jam 168 reporters into the President's press conference two days later. With a tight-lipped grin, Truman said he had nothing to announce, but he understood there were questions. The Washington Post's Edward Folliard opened the show: "Chairman McKinney told us you are planning to take drastic action toward a Government housecleaning...
Ever since Indiana's Frank McKinney became Democratic National Chairman, newsmen have been deeply interested in his connections with Frank McHale, Democratic National Committeeman from Indiana. Reason: McHale recommended McKinney to Harry Truman. Later, in a press conference, McHale described his man as "like Caesar's wife-above reproach." Last week, an interesting Mc-Kinney-McHale nugget was turned up by the New York Herald Tribune's Jack Steele. It concerned a business deal the two had with Promoter Frank Cohen, who headed Empire Ordnance Corp., a World War II munitions combine...
Empire, of which McHale was a director, stockholder and counsel, had been roundly denounced for its efforts to buy political influence in Washington. In 1946, Cohen set up the Empire Tractor Corp. out of the remnants of Empire Ordnance. McKinney and McHale each bought 1,000 shares of Empire Tractor stock for $1 a share. Ten months later, they sold their stock back to Cohen. Their profit: $68,000 each. Cohen paid for the stock with money he borrowed from the Empire Tractor Corp. itself. Just a year after McKinney and McHale took out their 6,800% profit, the company...
Part of McHale's response to the Herald Tribune stories was a familiar' one: "I was strictly within my legal rights." McKinney said he had "assurances" that McHale had not done any influence peddling, but that he would make further inquiry and "let the chips fall where they may." Whether he would let many chips fall on the man who recommended him to Harry Truman as Democratic National Chairman remained to be seen...