Word: merle
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Dates: during 1950-1959
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...record of Truman Administration corruption, after six years, still hangs over the Democratic Party. Apart from instances of penny-ante skulduggery that resulted in resignations, a flock of damning charges turned into at least eight court convictions. Reconstruction Finance Corp. Loan Examiner E. Merl Young was convicted of perjury. Nailed, too, were Massachusetts Tax Collector Denis Delany (bribery), Missouri Collector James Finnegan (who collected legal retainers from firms doing business with the Government), former Commissioner of Internal Revenue Joseph Nunan Jr. (income tax evasion), California Deputy Collector Ernest M. Schino and Nevada's BIR Chief Field Deputy Patrick Mooney...
Close on the heels of the influence-peddling probe came the Reconstruction Finance Corp. scandals and a whole raft of new names. The Lustron Corp., a manufacturer of prefabricated houses, had received RFC loans totaling $37.5 million, much of which had been approved by Loan Examiner E. Merl Young, who resigned and emerged as an $18,000-a-year Lustron official, was later convicted of perjury (18 months in jail). Young's wife Lauretta, a White House secretary until April 1951, received a $9,000 mink coat paid for by a lawyer representing firms that longed for RFC loans...
Last week two skeletons of the Truman Administration rattled their old bones in two U.S. courtrooms: ¶In Washington, E. Merl Young, 38, got four months to two years in the penitentiary on four counts of perjury. His major offense: telling a Senate committee he had no connection with a $10 million RFC loan to the now defunct Lustron Corp.. though he recommended approval of the loan and resigned from RFC on the day the loan was granted (to become a Lustron executive). Young and his wife (who wore the Truman Administration's original mink coat when...
...resold it in Chicago's grey market for $75,000 profit. Said he: "[The sale] was simply a payoff, and somebody made $75,000 for doing nothing." Control of the corporation was held in option by Lawyer Rosenbaum, who denied the charges, and by ex-RFC Employee E. Merl Young. His wife, a White House secretary, was given a mink coat for which Rosenbaum paid the bill...
...days later, the ax fell on one of the RFC men most susceptible to Merl Young's influential ways. William E. Willett, ousted as an RFC director last February, had slipped back on to the Government payroll as an $11,800-a-year "specialist" for Under Secretary of the Navy Francis P. Whitehair. When news of Willett's new job leaked out last week (TIME, Dec. 24), Defense Secretary Robert Lovett (who hadn't been told that Willett was drawing a Government check again) demanded his resignation forthwith...