Most questions which the Senate Finance Committee asked Henry Morgenthau Jr. last week before confirming his appointment as Secretary of the Treasury were routine. One that was not, involved the status of Mr. Morgenthau's dapper financial adviser, Earle Bailie, of Manhattan. When his name came up, Michigan's Senator James Couzens called Mr. Morgenthau aside, whispered something in his ear. Three days later Adviser Bailie handed in his resignation and when reporters rushed to tell Senator Couzens, the rich Detroiter grinned & beamed.

Earle Bailie had been called from the banking firm of...

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