Word: mutscher
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...timber by Lyndon Baines Johnson, and a "golden boy" protégé of Treasury Secretary John Connally, Barnes nonetheless was hurt by revelations of high-level wheeling and dealing in the state capital. The most sensational was the implication of Governor Smith and former Texas House Speaker Gus Mutscher, among others, in a stock-fraud case (TIME, Feb. 15, 1971). Barnes was not directly involved, but after subsequent investigations exposed flagrant cases of nepotism (one legislator had five relatives on various payrolls) and misuse of state funds (another bought a pickup truck partly with $1,200 in state-purchased...
...been politically active since an unsuccessful try for Governor in 1968, Sissy has been on the ramparts. During her two terms in the legislature, she was known as "the den mother of the Dirty Thirty," a coalition of reform-minded legislators who fought against the heavyhanded leadership of Speaker Mutscher. At first glance her candidacy seems hardly promising: a liberal in conservative country, a Catholic in the Baptist heartland-and an advocate of busing, liberalized abortion and marijuana laws, a state tax on corporate profits, elimination of the Texas Rangers and greater representation for blacks and Chicanos...
...Trusting. Within a few days after the bills were introduced, large purchases of shares in National Bankers Life Insurance Co. stock were made by Governor Smith; Gus Mutscher, speaker of the state house of representatives; Elmer Baum, head of the Democratic state executive committee; State Representative Tommy Shannon, who introduced the legislation; and W.S. Heatly, chairman of the state house appropriations committee. They and other influential Democrats bought the stock at between 11⅛ and 13¾ a share. Much of the buying was done with loans from the Sharp-controlled bank, with the stock itself as collateral...
Among the beneficiaries of that trust were Governor Smith and Baum, who, buying shares and selling them at the inflated price, netted $125,000 between them. Speaker Mutscher said that he eventually lost money because he bought back in, but on his original purchase he is said to have made between $50,000 and $100,000. Shannon cleared $30,000, and Heatly $34,000. The SEC documents did not list a specific profit for Sharp. But he benefited by having the use of some of the Jesuits' funds during the frequent dealings between them. Also, his enterprises would have...