Atomic Energy Commission: Strauss, Lewis L., Chairman, AEC. MacKenzie, John, Jr., assistant to Chairman Strauss, AEC. Cook, Richard W., Deputy General Manager, AEC (since Mitchell, William, General Counsel, AEC. Sapirie, Samuel R., Manager, Oak Ridge Operations, AEC. Smyth, Dr. Henry D., Commissioner, AEC (until September 30, Zuckert, Eugene M., Commissioner, AEC (until June 30, 1954). Campbell, Joseph, Commissioner, AEC (until November 30, 1954) Tennessee Valley Authority: Clapp, Gordon R., Chairman, Board of Directors, TVA (until Vogel, Herbert D., Chairman, Board of Directors, TVA (since Curtis, Harry A., Vice Chairman, Board of Directors, TVA. Demmler, Ralph H., Chairman, SEC (until May 25, 1955). Goodwin, A. Jackson, Commissioner, SEC. Orrick, Andrew D., Commissioner, SEC. Rowen, Paul R., Commissioner, SEC (until June 5, 1955). McDowell, Robert A., Director, Division of Corporate Regulation, SEC. Timbers, William H., formerly General Counsel, SEC. Meeker, Thomas G., formerly Assistant General Counsel, SEC (now General Counsel). DuBois, Orval L., Secretary, SEC. Ewell, James G., hearing examiner, SEC. Lester, Harlow B., attorney, Division of Corporate Regulation, Freedman, Solomon, attorney, Division of Corporate Regulation, King, Earle C., chief accountant, SEC. Ferber, David, special counsel, Office of General Counsel, SEC. Isaacs, Elcanon, staff, Division of Corporate Finance, SEC. Federal Power Commission: Kuykendall, Jerome K., Chairman, FPC. Adams, Francis L., Chief, Bureau of Power, FPC, consultant to McAllister, Lambert, Assistant Chief, Bureau of Law, FPC. Roberts, Harold E., assistant to Adams, FPC. Gatchell, Willard W., General Counsel, FPC. Department of Justice: Brownell, Herbert, Jr., Attorney General of United States. MacGuineas, Donald B., attorney, Assistant Chief of General Rankin, J. Lee, Assistant Attorney General, Office of Legal Ford, Fred W., first assistant, Office of Legal Counsel, Depart- Ulman, Leon, staff, Office of Legal Counsel, Department of General Accounting Office: Campbell, Joseph, Comptroller General of the United States (Commissioner, AEC, until November 30, 1954). Weitzel, Frank H., Assistant Comptroller General. White House: Adams, Sherman, the Assistant to the President of the United Persons, Wilton B., Deputy Assistant to the President. Morgan, Gerald D., Special Counsel to the President. Martin, Jack, Administrative Assistant to the President. TENNESSEE Clement, Frank G., Governor, Tennessee. Volpe, Joseph, Jr., counsel, State of Tennessee. Allen, Thomas H., president, light, gas, and water division, city of First Boston Corp.: PRIVATE INTERESTS Wenzell, Adolphe H. (until June 1955), vice president and director. Linsley, Duncan R. (until 1955), chairman of executive committee (presently, vice chairman, board of directors). Coggeshall, James, Jr., president and director. Woods, George D., chairman of board of directors. Harter, Robert L., vice president. Cannon, Francis A., vice president and director. Dean, Arthur H., senior partner, law firm of Sullivan & Crom well, counsel for First Boston Corp. Raben, John R., partner, Sullivan & Cromwell. Dooling, John F., partner, Sullivan & Cromwell. Foshay, William W., partner, Sullivan & Cromwell. Dixon-Yates utility group: Dixon, Edgar H., president, Middle South Utilities, Inc. Hallingby, Paul, Jr., assistant to President Dixon, and now vice Canaday, Paul O., vice president, Middle South Utilities. Seal, Tony G., vice president, Ebasco Services, Inc. McAfee, J. W., president, Electric Energy, Inc., and president Barry, James M., director and chairmar, executive committee, Stietenroth, James D., secretary-treasurer, Mississippi Power & James, Daniel, partner, law firm of Cahill, Gordon, Reindel & Forrow, Brian D., partner, law firm, Cahill, Gordon. Meagher, Robert F., partner, law firm of Winthrop, Stimson, Smith, Hayden N., partner, Winthrop, Stimson law firm. FIRMS MVGC (Mississippi Valley Generating Co.): corporation formed by Dixon Yates on July 19, 1954, under the laws of Arkansas to carry out the power contract with the AEC; the powerplant to be constructed in West Memphis, Ark.; all of the equity interest (common stock) to be taken by its sponsoring companies, Middle South Utilities and Southern Co. EEI (Electric Energy, Inc.) (J. W. McAfee, president): constructed the generating plant at Joppa, Ill., to supply power to the AEC plant at Paducah, Ky., pursuant to a contract with AEC. OVEC (Ohio Valley Electric Corp.): Constructed a plant at Portsmouth, Ohio, to supply power to AEC pursuant to a contract with AEC. EBASCO (Electric Bond & Share Co.): Utility holding company. Ebasco Services, Inc. (Tony G. Seal, vice president): Wholly owned subsidiary of EBASCO engaged in utility management and construction; agent for Dixon-Yates' new powerplant, MVGC. CHRONOLOGY (It (NOTE. The present inquiry indicates the absence of particular meetings and persons from the chronologies officially released by the Bureau of Budget and AEC that should have been included. is also interesting to note that the "independently" compiled Bureau and AEC records of events fail to record the same meetings and persons.) Since all entries in the two official records are not included in this chronology, but only those pertinent to the present inquiry, those officially recorded are marked by an asterisk; entire meetings or particular persons that have been omitted from the official chronologies, through they actually took place or were actually present, as have been revealed to date through the inquiry, are noted as "(not disclosed)".) KEY TO CITATIONS 502-Volume and page of printed transcript of testimony before this subcommittee, June 27 through August 3, 1955. JCAE: 783-Hearings of Joint Committee on Atomic Energy, 83d Congress, 2d session, November 5-13, 1954. SEC debt: 43-Hearings before the SEC on application of MVGC equity-financing hearings, December 7-21, 1954; debt-financing hearings, June 6-17, 1955. Exhibit One of the numbered exhibits introduced in hearings of this subcommittee. 1952 October 15, 1952 In a campaign speech at Memphis, Tenn., Presidential nominee Eisenhower states, in regard to TVA: "In this region you are deeply interested in the Tennessee Valley Authority, and in the part it has played in the improvement of the agriculture and commerce of this area. TVA has served rural areas well and has created many new industries in this section. It has helped conserve natural resources, control floods, and promote national defense. Certainly there will be no disposition on my part to impair the effective working out of TVA. It is a great experiment in resource development and flood control for this particular area" (New York Times, Oct. 16, 1952). Note 1: See entry of "June 17, 1953" for President's reference to TVA as "creeping socialism" and his statement that "all of us provide such cheap power for one region that it can take away industries from other sections of the country." Note 2: This extract from the speech of this date was also delivered at Knoxville, Tenn., on the same date. November 1, 1952 In answer to a telegram from the Knoxville (Tenn.) News Sentinel regarding Presidential nominee Eisenhower's position on TVA, Eisenhower, 3 days before the election, wires: "TVA has served well both agricultural and industrial interests of this region. Rumors are being maliciously spread in TVA areas that I propose not only to decrease the efficiency of the operation but to abandon it, which is grossly untrue and utterly false. If I am elected President, TVA will be operated and maintained at maximum efficiency. I have a keen appreciation of what it has done and what it will be able to continue to do in the future. Under the new administration TVA will continue to serve and promote the prosperity of this great section of the United States" (Knoxville News Sentinel, Nov. 2, 1952). Note: See entry for "June 17, 1953," for the President's reference to TVA as "creeping socialism". 75904-56-6 1953 January 9, 1953 President Truman sends his budget message to Congress; his budget for fiscal year 1954 "includes funds to enable the Tennessee Valley Authority to start construction of a steam-electric plant in the western part of the system and to begin installation of additional units in the Kingston and John Sevier steam-electric plants. There facilities are required to meet the growing power needs of the area for defense, industrial, and domestic purposes." Note 1: Truman's budget called for an appropriation of $254,355,000 for TVA, plus $30 million to begin construction of the Fulton steam plant ("western part of the system"). Note 2: President Eisenhower announced on May 13, 1953, that his revised budget being submitted to Congress calls for a reduction of the TVA appropriation to $190,822,000 and complete elimination of the $30 million appropriation for the Fulton steam plant (New York Times, May 14, 1953). On May 18 the TVA Chairman advised Senator Saltonstall that the Bureau of the Budget had eliminated the provision for the Fulton steam plant (hearings, Senate Appropriations Subcommittee, H. R. 5690, p. 81). May 6, 8, 11, 1953 Woods (chairman of board, First Boston Corp.) telephones Dodge (Director, Bureau of Budget) in an attempt to arrange an appointment to confer with Dodge (536-537). May 11, 1953 Woods comes to Washington to confer with Dodge; he relates to Dodge how interested he was in the Government's new policy of getting the "Government out of business," and that he would like to help in any way he could. Dodge expressed his desire and need for a man experienced in money costs and utilities to make a study of TVA for the Bureau of Budget. Woods responds that he had a man for him; would consult the man (a vice president and director of First Boston) and let Dodge know (517). Note 1: Woods admitted that, when he came to see Dodge, he was aware of the fact that getting the "Government out of business" would involve the selling of "untold millions or billions of dollars of securities on the market at a profit to security dealers," although he insisted that this was not the primary reason for his traveling to Washington to see Dodge (517). Note 2: Woods also testified as to his personal belief that TVA should not be expanded, and that he was in favor of private corporate method over TVA-Government one (500-501). Note 3: Woods also expressed his preference for private financing rather than through Government (Dodge testimony) (944-947). Note 4: Woods' "particular interest was in power projects of all kinds, which I thought was natural because their company had been large dealers in public utility securities * * *" (Dodge testimony) (944, 946). |