Up the Ladder

Two years ago sober, scholarly William McChesney Martin left his $48,000-a-year job as president of the New York Stock Exchange, entered the Army at $21 a month. Private Bill Martin learned that a man who had worked 18 hours a day in civilian life (as he had) could climb fast in the Army. Painstakingly he learned to shoot a rifle, even tried to pay the Government for extra practice ammunition. In his tent at nights, he studied military histories, textbooks on strategy.

Bill Martin was promoted as rapidly as regulations allowed: to 1st lieutenant, to captain, and, last Feb. 12, to major. Given special duty in Washington, he was transferred to the executive staff of the Munitions Assignments Board (Harry Hopkins), later moved to Lend-Lease. When Joseph E. Davies made his second mission to Moscow, Major Martin accompanied him. Last week, when Major Martin returned, he beamingly let it be known that at the state banquet, Premier Joseph Stalin had raised a glass, toasted the former chief of Wall Street.

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