Business & Finance: Old Mormon Custom

Eastern editors were mildly startled last week when they received a dispatch from Ogden, Utah, announcing the election of Marriner Stoddard Eccles as president of Amalgamated Sugar Co. Equally surprised were they to discover that all along he had been Amalgamated's vice president and treasurer. Remembering that the Secretary of the Treasury is not allowed to have a financial interest in trade, commerce or ships, reporters scurried to Senator Carter Glass to ask whether it was all right for the Chairman of the Reserve System actually to head an industrial corporation. The crusty...