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This is the news which Mr. Wilcox said reached him shortly after
twelve o'clock today:
The hasty announcement by M. S. Eccles that he had disqualified
himself from sitting as a Federal Reserve Governor in the matter of
Transamerica Corporation, which the Board charges has violated the
Clayton Antitrust Act w s described as "phenonenon of a m n removing
himself from a spot but leaving his shadow behind him".
Eccles issued a statement Wednesday night yielding to a
Transamerica motion filed three hours earlier demanding that Eccles
and his "long-time handy man" Lawrence Clayton both disqualify themselves for Transamerica Hearings on a charge brought last May.
Clayton failed to respond to the motion.
Eccles claimed he had
decided "sometime ago" to disqualify himself.
S. Husband said that Transamerica1s demand for the two disqualifications had equally sound causes.
Husband also said that Eccles statement read "like a child's
garden of verses only backward"; before w learned a b c ! s w learned
that w take our shadows with us but here is the phenonenon of a man
w o has removed himself from a spot but left his shadow behind him.