Business: Fizz & Vinegar

When 26-year-old Donald Cook joined the SEC as a lowly financial examiner in 1935, he "wanted some day to be a commissioner and if the fates were kind . . . chairman." Last week the fates, in the form of Harry Truman, were kind. The President named Cook SEC Chairman to succeed Harry A. McDonald, who took over as RFC boss. Cook is a tough-talking, fast-moving bureaucrat with a sharp legal and financial mind and the desire to "get up some of the old fizz and vinegar that SEC had in the '30s."

Cook...

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