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Harris & Ewing

Photo of President Benjamin F. Fairless of the United States Steel Corporation

President Benjamin F. Fairless of the United States Steel Corporation, told the Joint Economic Committee today that the corporation had not made a fair return on its sales or investment for the last 20 years. He blamed the recent price rise on the new employees pension system and the boost in Federal Social Security taxes. From: Beth Gore. From: Beth Gore

George M. Elsey

George McKee Elsey, who was appointed to a $10,000 a year job as Administrative Assistant to President Truman. From Oakmont, Pennsylvania, he formerly was assistant to Clark M. Clifford, the President's Special Counsel.

Photo of General Carl Spaatz (right) and General Dwight D. Eisenhower

General Carl Spaatz and General Dwight D. Eisenhower, Army Chief of Staff, testified before the House Executive Expenditures Committee on Armed Services Unification. Spaatz described the legislation as a positive step toward prevention of war, while Eisenhower, appearing for the third time, reiterated that there was no intention of abolishing the Marine Corps. From: Beth Gore

Photo of Chairman Marriner S. Eccles of the Federal Reserve Board Appearing Before the Senate Banking Committee

Chairman Marriner S. Eccles of the Federal Reserve Board appeared before the Senate Banking Committee to defend the Board's request for power to restrict bank credit by requiring banks to increase their reserves. His defense was aimed primarily at the criticism of bankers, who want the board to resort to traditional ways of restricting credit by increasing bank discount rates and refusing to buy bank-held bonds being sold to provide new reserves for deposits. From: Beth Gore.

Photo of Marriner S. Eccles, Chairman of the Federal Reserve Board, appearing before the Senate Banking Committee

Marriner S. Eccles, Chairman of the Board of Governors of the Federal Reserve System, indicated that tax reductions would be a "tragic error." He told the Senate Banking Committee while testifying on the British loan that such action would increase the problem of inflation and decrease chances of balancing the Federal budget. From: Beth Gore.