Martin, William McChesney, Jr (1906–1998)

US stockbroker and government official. He worked in a St Louis brokerage and , in 1931, took a seat on the New York Stock Exchange. In 1938 he became the exchange's first salaried president. He joined the government as an assistant treasury secretary (1949) before becoming chairman of the Federal Reserve Board in 1951. Associated with conservative monetary policies during his long tenure on the board, he served on a committee to reorganize the stock exchange, and sat on several corporate boards after his retirement from government service in 1970. The son of a banker who helped draft the Federal Reserve Act during the Wilson Administration, Martin was born in St Louis, Missouri. He graduated from Yale University in 1928.