CONTENTS HON. DOUGLAS DILLON, TO BE SECRETARY OF THE TREASURY Letter of Shearman & Sterling & Wright to Hon. C. Douglas Dillon_ Article in U.S. News & World Report, January 2, 1961–. Letter and enclosures of John P. Weitzel, Assistant Secretary of the Quarterly statement of the United States and Foreign Securities Corpora- 57-67 III 6989 NOMINATIONS OF DOUGLAS DILLON, SECRETARY OF TREASURY-DESIGNATE, AND ABRAHAM RIBICOFF, SECRETARY OF HEALTH, EDUCATION, AND WELFARE-DESIGNATE WEDNESDAY, JANUARY 11, 1961 U.S. SENATE, COMMITTEE OF FINANCE, Washington, D.C. The committee met, pursuant to call, at 10:15, a.m., in room 2221, New Senate Office Building, Senator Harry Flood Byrd (chairman) presiding. Present: Senators Byrd, Kerr, Long, Anderson, Douglas, Gore, Hartke, Williams, Carlson, Bennett, Butler, Curtis, and Morton. Also present: Senator Fulbright and Senator Case of New Jersey; and Elizabeth B. Springer, chief clerk. The CHAIRMAN. The committee will come to order. The Chair is very happy to welcome to this committee a very distinguished and able Senator, Senator Fulbright. Senator FULBRIGHT. Mr. Chairman, I am very happy to be here. The CHAIRMAN. This meeting has been called for hearing on the expected appointment of Mr. Douglas Dillon as Secretary of the Treasury in order to expedite transition to the new administration. It will be understood that no action can be taken until the appointment is made and officially referred to the Committee on Finance. Mr. Dillon is here today as Secretary of the Treasury-designate, and the Chair is advised that he is prepared for such examination as the committee may require in the course of meeting its responsibilities. I think all members of the committee know Mr. Dillon, both personally, and by his general reputation in both public and private business. I submit for the record a biographical sketch on him for review. DOUGLAS DILLON Born: Geneva, Switzerland, August 21, 1909. Home: Far Hills, N.J. Education: Groton School, 1927; Harvard College, 1931. Experience: 1931-36: Investment banking; member of New York Stock Exchange. 1936-53: Director and subsequently president of United States and Foreign Securities Corp. 1938-46: Director and vice president, Dillon, Read & Co. Inc. 1941-45: U.S. Navy. Completed service as lieutenant commander, U.S. Naval Reserve. 1946-53: Chairman of board of directors, Dillon, Read & Co. Inc. 1953-57: Ambassador to France. 1957-58: Deputy Under Secretary of State for Economic Affairs. 1958-59: Under Secretary of State for Economic Affairs. 1959-61: Under Secretary of State. Honorary degrees: Columbia University, Hartford College, Harvard University, Lafayette College, New York University, and Williams College. 1 |