Word: purcelle
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Dates: during 1940-1949
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The provocation: A New Deal youngster, 36-year-old Ganson Purcell, had got the White House green light to become SEC's sixth chairman in seven years. He would succeed New Dealer Edward Clayton Eicher, ex-Iowa Congressman who jumped from the SEC springboard* to Chief Justice of the...
SECommissioner Ganson Purcell said: "It may prove to be wise to insist that corporate salaries be reasonably restricted." Purcell would like to set up a temporary wartime Government agency with specific control over all corporate earnings.
> Appointed director of the trading and exchange division of SEC, succeeding Commissioner Ganson Purcell, was James A. Treanor Jr., up from SEC's ranks. He practiced law in Boston until 1933, went to Washington in the NRA era, later directed FCC's telephone investigation.
Purcell is one of the second-generation New Dealers who have been quietly working with the hard facts of Government administration while older men made policies and headlines. He has been a Government man since he left Harvard Law School in 1930. Ex-Yale Professor Bill Douglas liked his tough...
His appointment-as the first SECom-missioner to come up through the ranks-was good news to those who believe that Government, like business, should be administered by professional management instead of dilettantes or political spoilsters. It was also good news to Wall Street. No one expects Purcell to be...