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Show SEC CHAIRMAN APPOIIITEOTO HIGH TRIBUI1AL Douglas Believed to Be Acceptable to Western West-ern Senators WASHINGTON, March 20 (UP) President Roosevelt today to-day nominated to the supreme court Chairman William O. Douglas of the securities and ;xchange commission, an arch-new arch-new dealer and reformer of the nation's securities markets. Douglas, 40, who was born In Minnesota, reared in Washington stats, and educated In the east, was named to aucced Louis Dembits Brandeis, who resigned. The nomination waa sent to the senate, where immediate indications were that there would be little dispute dis-pute over his confirmation. Believed Acceptable Douglas was nominated as from Connecticut, wbar ha formerly taught law at Yale, but because of his background and political belief it was biivd he would bo acceptable accept-able to most of the western senators who have been clamoring for representative rep-resentative on the court Chairman Henry F. Ashurst D., Aria.) ,of the senate judiciary committee com-mittee asld the nomination will he referred immediately to his committee commit-tee for consideration. Ashurst named five western senators sena-tors snd one easterner as a subcommittee subcom-mittee to consider ths nomination. They are Carl A. Hatch (D, N. M., chairman: William H. King (D., Utah), Pat McCarraa D.. Nov.), William A. Borah (R., Idaho) and John A. Danaher (R-, Conn.). As presently constituted, the court has only one justice considered consid-ered a westerner Associate Justice Pierce Butler whose home is in Minnesota. At 40, Douglas is ons of the youngest men ever nominated for tha supreme court. Fourth Appointment The nomination, completing the nine-man personnel of the high court, was President Roosevelt's fourth appointment to the supreme bench. But it will not affect tha close liberal-conservative alignment directly since Douglas will succeed Brandeis, considered one of the foremost liberals aver to sit on ths court. The nomination givea President Roosevelt a solid phalanx of four justices sympathetic to ths liberal objectives of tha new deal These four are his nominees Hugo L. Black, Stanley Reed, Felix Frankfurter Frank-furter and Douglas. I Chief Justice Charles Evans Hughes, Harlan F. Stone and Owen J. Roberts often have sided with the liberal group, leaving only Justices Jus-tices Butler and James C Me-Reynolde Me-Reynolde ss tha remnants of the once dominant conservative majority. ma-jority. Although Douglas' family roots are deep in tha west, the major achievements that led to his nomi- (CoaUnue an r Two) (Column inl Douglas Is Nominated For Supreme Court (CeaUaoeg Fleas Fees Oea) ' j nation vara accomplished la ths east President Robert Mejmerd Hutch-Ins Hutch-Ins of the University of ' Chicago ones called him the beet law professor' pro-fessor' in the country. Operator In the nation' stock - market know him as an unrelenting advocate of scrupulous honesty, in securities transactions who policed trie exchanges ex-changes with an eagle eye-during his tenure as member and chairman of the securities and exchange -commission. ' Only last week Douglas reaffirmed reaf-firmed with - charaetsristic blunt-ness, blunt-ness, hi demands for rigid policing of ths securities exchangee when he announced unrelenting opposi- tlon to exchange proposals for modifications of trading restrictions. restric-tions. Douglas friends and snemlea Invariably In-variably agreed that he had at least one virtue brutal frankness. Douglas Doug-las said he didn't like the traditional tradi-tional admlnlatration of the New York stock exchange. He said It was a "rich man's club." He said the "little fellow" didn't have a chance, and that h proposed to do something about It The result was reorganisation of the etock market with Its first paid president, William Wil-liam McChseney Martin, like Douglas, Doug-las, a comparatively young man. WaU Street called him a "left-winger." "left-winger." Douglas said the street was sll wrong. -What kind of a bird am IT" he asked the news men when be was elected chairman. "To tell you the truth, I think that I am really a pretty conservative sort of fellow from the old school, psrhaps a school too old to bo remembered. I think that, from the point of view; of investors, ths one safe, controlling, con-trolling, and guiding stand ahould be conservative standards of financeno fi-nanceno monkey business. I ami the kind of conservative who can't get away from the idea that elmple i boneety ought to prevail In the financial fi-nancial world." Prefee Bill Bill Douglas he prefer Bill to William and Orvllle frees him came from scotch PraebyUrian stock. His father was a missionary mission-ary who emigrated from Nova Scotia to Main, Minn, where Douglas was born on October It. ISM. When the elder Douglas died six yeara later, th family moved to Yakima, Wish, where young Bill grew up under conditions near the poverty level. . He helped support hi family and , flnanoe his education by following the traditional up-f rom-the-ranki route. He was nawsboy, farm hand, I Junk dealer, shssp hsrdsr and tutor. |