Washington (Jan. 15)
Benjamin V. Cohen, PWA lawyer who helped write the Stock Exchange Control Act, was put forward today by Liberals in the Administration and Congress for membership on the Securities and Exchange Commission, succeeding Ferdinand Pecora.
Cohen was one of Pecora’s closest associates in the fight for effective stock exchange control legislation. Those who would like to see the market closely regulated have confidence in Cohen. Pecora has resigned to accept a judicial appointment in New York from Governor Herbert H. Lehman.
Vigorous opposition to Frank C. Shaughnessy, head of the San Francisco Stock Exchange, who is a candidate for Pecora’s place, developed today when it was recalled that at hearings before the Senate Bank Committee he had testified against the law he now seeks to help administer.