Business & Finance: Lone Wolf

The Federal Power Commission got a new chairman last week, and private utilities may soon be painfully aware of him. The new appointee of President Truman: Fair Dealing Commissioner Thomas C. Buchanan, 56, successor to Mon C. Wallgren, an old Truman crony who resigned for "personal reasons." Buchanan, a former commissioner of Pennsylvania public utilities, was appointed to FPC in 1948 against the protest of the oil & gas lobby. He had been a stubborn fighter against rate raises, and oil & gas men raised such a row that his confirmation barely squeaked through the Senate.

As a Commissioner, Buchanan opposed the...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!