The Waterbury Democrat., 1939-05-06

to say yes or say nOCnlng.
 An obscure member of the Rus sell Sage Foundation, he broke in- to the New Deal in the hectic days of 1883 by calmly "no-ing" Gen. eral Hugh Johnson when that tur- bulent ex-cavalryman was tri- umphantly charging windmills. When Johnson got over the shock of Henderson's mo-" he promptly impressed the brash young econ omist into the MIRA as research director and gave him the job of remedying the evils he had denounced.
 Henderson continued to say mo-. The more he did so, the more he rose in administration ranks. When the supreme court finally decapitated the Blue Eagle he was one of it's five top-rung bosses. Two years later, while Treasury and other Olympian master minds were exuberantly prophesying great business boom, Henderson again said mo-. This time it was to the President, him. self.
 Like Johnson, Roosevelt didn't like it. But unlike Johnson he paid no attention to Henderson then. Eight months later, after Henderson's warning had been amply borne out, Roosevelt sum- moned him again. This time he 1icfny, aI v,anvo offas,fiyo1x,
 Henderson reiterated his mo" several times after that. He shook his head when offered the wage-hour administration; also when some of his New Deal in- inmates wanted to use the mon- opoly investigation for slap dash undertaking. And he will probably say mo" to both left wingers and rightwingers as an SECommissioner.
 Stocky, friendly, younger in ap- pearance than his A years, Hem derson is an ardent liberal. But he is no radical. Level headed and as American as slang, he be- lieves in mixing idealism with the practical. He will fight relent- lessly for what he believes is right, but his conception of right is never extremist.
 It is significant that two of Hen derson's warmest admirers are such contrasting characters as Tommy Corcoran, the Brain Truster, and Representative Hat ton Summers of Texas, Old Guard chairman of the House Judiciary Committee.
 SEC FANTASY
 Behind Henderson's appointment to the SEC is an inside story even more amazing than his mo" rise to high position.
 It is fantastic tale of under cover intrigue, grudge fights, petty jealousies and egotistical ambi- tions, plus plain-and-fancy goug- ing. Not the least fantastic part of the story is the fact that it never would have happened if Roosevelt had announced Tender sons appointment as soon as SEC Chairman William Douglas was elevated to the Supreme Court.
 There was never any question that Henderson would be appoint ed. Months before, he had been offered the next vacant SEC chair. Had Roosevelt acted with dispatch in filling Douglas shoes, kt,o GE( YYan1arcox, ard uori0a1c others would have been spared a lot of needless churning.
 Reason for Roosevelt's delay was the desire to have Commis- sioner Jerry Frank made SEC Chairman before Henderson's appointment was announced. This, according to Whit, House master minds, would have smoothed the way for Leon's Senate confirmation, which they frankly felt was not going to be easy.
 While no radical, Henderson is a hard listed. hard-boiled reguia- tor and Wall Street doesn't like him. Particularly they don't like him at this exact nome :. when they have seen the mirage of busi- ness appeasement. So Roosevelt feared that Wall Street, plus sen- atorial friends of big business, would stage fight if-and this was the crux of the thing-they thought he big mo" man of the New Deal was going to become SEC chairman. As a mere com.