The Administration: Turndown

From the moment last fall when Secretary of the Treasury Douglas Dillon signified his intention to resign, President Johnson has been after Donald C. Cook, 55, president of the American Electric Power Co. A former chairman of the Securities and Exchange Commission, Cook is a close friend; during last year's presidential campaign headed the Citizens for Johnson and Humphrey organization. But Cook decided that he did not want to become Treasury Secretary; he had already spent 16 years in public service, and he figured that was enough. There were other explanations for his reluctance: his pen sion would suffer;...

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