The Waterbury Democrat., 1939-06-22

University of Chicago, as
 The move won the Exchange much kudos but it proved to be 8 short-lived reform.
 At his first board meeting Hutchins clashed head-on with the other governors on his de- mand that disciplinary action be taken against the Morgan part ners and other Wall Street ty- coons involved in the Richard Whitney scandal. Vetoed on this, Hutchins promptly resigned.
 Now the final chapter has been written. After more than six months of deliberations, a new representative of the public" was finally selected in the person of Curtis E. Calder, millionaire head of the American and Foreign Pow CT company and director of score of big banks, investment and util- ity corporations.
 Calder'S appointment is the sec ond significant Exchange develop ment in recent weeks. Last month the powerful committee on mem Der firms, which deals directly with the Security and Exchange Commission, quietly busted the friends of the SEC and replaced them with Old Guard insiders. BATTERED MACHINE
 Leon Henderson, new SECom- missioner, received a mysterious package in the mail. Postinarked New York, 1t looked suspiciously like a bomb. He opened it cau- tiously. and out fell a second hand stock ticker.
 It was sent by an old college friend, Donald Morgan, now a Wall Street broker. There was also 8 letter, in mildly caustic vein:
 "You will note," Morgan wrote, "that the machine is in pretty bad shape. We are told that most of this deterioration has occurred since 1883. Several monkey-wrenches have been dropped into it from time to time and these mishaps account for some of the bad scars. In its hard service during the Twenties the high numbers were worn out and nothing but low ones come out of it any more." SHE CANNED LOBBYISTS
 Two smartly attired canning lobbyists who called on Mrs. Mary Norton, chairman of the House Labor Committee, are still shivering from their sub-zero re- ception.
 The plump New Jersey congress- woman usually is good-natured and friendly, but she hit the ceil- ing when one of the lobbyists launched into a fearful harangue on the desperate" financial con- dition of canners as result of the Wage-Hour law.
 .'COme down to cases" she interrupted. 'Tf you are trying to sell me on . scheme to ex- empt canners from the act. you are wasting your time and mine."
 Please don't take that at- titude,. Mrs. Norton" pleaded the other lobbyist, i've are only trying to obtain some relief for our hard-hit industry"
 "Oh, so it's relief you want" snapped Mrs. Merton. aWeIls judging from the Park Avenue clothes you two are wearing, I wouldn't say that the canners who hired you are in very bad shape financially. You can tell them for me that if they ap- piled your fat salaries to de- cent wages for their employees, they'd have no reason to fight the law. Good day!"
 SOILS ROYAL RUG
 That $150 rug the King and Queen stood on during their con- gressional reception in the Ro- tunda is back where it came from-the library of Representa- tive Sol Bloom. acting chairman of the House Foreign Affairs Com mittee.
 This is how the rug came to be used: thorny problem facing the Senate-House committee handling arrangements for the rec ception was the color of the care pet on which the royal guests would stand. Chief consideration was Q shade that would co with the ouccn's white dress.
 Red was ruled out for fear it might provoke cxRckpot comments. So was blue becatlzs Their Majcs-