Tycoons

Last week. Charles Hayden, affable, playful, cultured and immensely able head of an immensely potent firm of private bankers, Hayden, Stone & Co.; Charles Hayden, keen bridge player and a director of probably more famed companies than any other financier, took an immensely important command in the Republican political army. He agreed to collect the money from New York State, from which most of the money must come. Mr. Hayden did not apologize; he was proud to serve. Mr. Hayden did not resign anything; no one even remotely hinted that he should. He had just as much right as any truck driver to work for the Republican party.

Mr. Hayden is far from being the first millionaire or hundred-million-dollar-corporation-director to take off his $175 coat for Republicanism. His theoretical boss is a young millionaire-philanthropist called "Jerry" Millbank (Eastern Treasurer). And the latter's boss is the white haired president of Cleveland's biggest bank, known to that city as "Joe" Nutt (National Treasurer). And etc. etc. etc. For Republicans, this has always been so. Years ago, that great Pittsburgh steelman, B. F. Jones, became chairman of the Republican National Committee, and it never entered his head to resign anything. So, today, the head of the Pennsylvania Railroad and dozens of equally potent tycoons are Hooverizing in official party posts.

Members of both parties put in sharp contrast Pierre Samuel Dupont's feeling that even though he was not taking a Democratic job, he ought to resign from General Motors before endorsing the Brown Derby. As for Democratic Chairman John J. Raskob, he last week resigned from a lot he had not already resigned from.