Evening star., 1952-02-26
Mcdonald Takes Seat
As RFC Head Today;
Fight on SEC Seen
DY Robert K, Walsh

Senate confirmation OF Harry
A. Mebehald Al Reconstruction
Finance Corp, administrator
pointed W the possibility teday
that President Truman VIII have
another hard flght when he neFaia
mates A new chairman OF theI
Securities and Exchange eemmIsu
sion,
Mr., Mcdonald, sHe chairman
since ie4p, planned 10 be sworn
IN late today AZ the first Hepuhs
lioan head OF the Inuahs sInvhAtls
gated RFG, lie was confirmed
late yesterday on q 4g-pa Senate
vote, after his nomination had
been held UP since early January
lie survived vigorous opposition
voiced by Senator Douglas Dam0s
OrHt, OF Illinois, and adverse votes
cast by seven Democrats and 10
Republicans, te received sup
port from 10 other Republican
Senators and 30 Democrats,
Geek Has inside Track,
Donald q Cook, Bi1G Vee chairs
man who formerly WAS Alien fSF0ps
erty Custodian, has the inside
track for appointment 10 AlleOeed
Mi Mcdonald, according 10 Pen
ports al The Capitol
A he prepared 10 lake The cath
from supreme Court Justlee CLARK
Nj 4 10 PIN today, In RFe headI
quarters Mr. MeB0hald Rald no
had mo hard feelings" agRinst
M9se who opposed his nomination,
he ADVISED influence peddleps 10
ktax away from the agency and no
SAID no knew thew 10 handle that
s0Pt OF thing"
AHe Itself IA being investigated
by a House Commerce sHbeammits
Tee, IN the Senate Yesterday, II
was criticized even more often
than REC by Senator Douglas and
others, Moreover, q Senate COM
mlttee "a preparing 10 investigate
the old Once OF Alien Property,
Honesty Not Questioned, Il
senator Douglas emphasized
that he did not question Mr., Me-
ponald's honesty or character, But
he contended that Mr., Mcdonald
was not strong enough" TO cope
with the RFC Job and the mighty
pressures" that might be eKerted
III Is my suspicion that, II we do
make him head Of RtOC, II will be
run by the White House." he
warned. II had hoped not TO be
forced TO say that" Il
He noted that loan applIcatio /,
totaling at least OIL billion are
pending at RFC. Several OF the ,
bigger ones, he said are from com.
panies that figured last year 10
some extent. In n Senate subcom-
mittee investigation OF faYoritiSm
and influence affecting RFC. +,
Urged Delay.
The debate OF almost three hours
began when Senator Capehart, re.
publican. Of Indiana, urged that
action on the nomination be de.
ferred until the Senate voted onI
bills 10 abolish or reform" RIG.
The Indiana Senator did not
make a motion 10 that effect,
after Democratic Leader McFars
land promised TO call up the
bills reasonably SOON" w
Benator Fulbright, Democrat,
OF Arkansas, who headed the
group that investigated RFC last
year, cautioned against leaving
the agency without an Adminstra.
tor during the months that would
pass before any bill passed by the
Senate could be put into full Of.
feet.
Attacks "KiGking Around"
Senator Ives, Republican of New
York, attacked the "unseemingly
and centemptueus manner in
which the Senate Banking Com
mlttee has been kicked around and
coerced by the Chief Executive In
his determination to force the
committee to do his bidding-or
else"
Senator Fulbright. as well as
Banking Committee Chairman
Maybank, replied that the COM
mittee had not been "intimidated,"
The Arkansas Senator replied that
the committee conducted a long
and careful inquiry "in spite of the
Presidents disdain for the COM
mittee's position and responsible
ties" The committee last week ap-
proved the nomination by a 7-3
V0tp