Word: missourian
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Industrialist. "Stu" Symington, 44, was the socialite president of St. Louis' Emerson Electric Manufacturing Co. who, as a prominent Missourian, knew Truman. So he became Surplus Property Administrator. His hands tied by red tape and a bad law, he kicked and fumed about his job, finally resigned last week when Surplus Property was turned over to the RFC's War Assets Corp. for administration...
...Government financial institutions last week got transfusions of fresh blood. To the $10,000-a-year chairmanship of the Export-Import Bank, fellow Missourian Harry Truman named boyish, earnest William McChesney Martin Jr., 39, onetime Wonder Child of Wall Street. The $48,000-a-year president of the New York Stock Exchange from 1938 to 1941, Martin was drafted into the Army as a private. By war's end he was a full colonel...
...third transfusion was to the Federal Deposit Insurance Corp. As its head, the President named another onetime Missourian-Maple T. Harl, 52, now a Denver banker. Both he and Martin succeed Leo T. Crowley, who was head of both institutions until he resigned to return to private business...
...gifts were ill-timed. The six-month waltz of Congress with the Missourian in the White House was definitely over. Democrats (notably Southerners) had boldly walked off the reservation and joined Republicans on the warpath. Last week the House Ways & Means Committee (14 Democrats and ten Republicans) voted 18-to-6 to reject the President's reconversion proposal: unemployment compensation up to $25 a week for 26 weeks. Then the Committee voted 14-to-10 to shelve further consideration of aid to the jobless, including the bill the Senate had chopped out of the Truman recommendations (TIME, Sept...
...foreign countries. He had merely substituted one lending device for another. But the psychological effect of chopping off Lend-Lease was immense. The President had notified the world that the U.S. would not be played for a sucker. And he had bolstered his own reputation as a hard-headed Missourian who could be trusted to handle money in a businesslike...