Economic Reform Policy by Envoy Dodge (Dodge Line)/Biography of Joseph M. Dodge

by General Headquarters of the Far East Command

GENERAL HEADQUARTERS
FAR EAST COMMAND
Public Information Office

INFORMATION BULLETIN:

31 January 1949

Biography: Joseph M. Dodge, Financial Advisor to SCAP with the personal rank of Minister, who is scheduled to arrive at Haneda Tomorrow, Feb. 1, at about 5 p.m.

President, The Detroit Bank, Detroit, Mich. Born in Detroit, began banking career as bank messenger 1909 for Central Savings Bank, Appointed Assistant State Bank Examiner, State Bank Examiner, and Special Examiner for and Secretary of Michigan Securities Commission. Operating officer Bank of Detroit; taught classes for American Institute of Banking.

Aug. 10, 1932, appointed Vice President and Assistant to Chairman of Board of First National Bank Detroit, also Secretary of Governing Committee of Board of Directors, Ex-Officio member of all bank committees.

March 24, 1933, appointed Vice President of newly organized National Bank of Detroit. Prior to that retained by organizers and directors of new bank and authorized to select $131,000,000 of assets, which were purchased from Guardian National Bank of Commerce and First National Bank Detroit and taken over by National Bank of Detroit. Proceeds of these assets were used to make first payments to depositors of closed banks.

Assisted in setting up organization of National Bank of Detroit, supervised recording and handling of all purchased assets, and closed contracts with receivers at expiration dates.

Dec. 5, 1933, elected President and Director Detroit Savings Bank (oldest bank in Michigan, established 1849 and one of the oldest in US). Name of bank changed in January 1936 to Detroit Bank. In December 1933 banks total assets were about $60,000,000 and on June 30, 1948, these totals were about $550,000,000, with 347,000 depositing accounts.

President of Michigan Bankers' Association during 1944-45 association year; active for years on many of its committees; member of association of Reserve City Bankers, active on several of its committees, Chairman of Board of Trustees of Banking Research Association twice, and held other offices in this organizations; a Director of Federal Reserve Bank of Chicago from 1938 through 1944; and a member of Advisory Committee of Detroit Loan Agency for Reconstruction Finance Corporation since 1937.

Elected Vice President of American Bankers Association October 1946, and became President October 1947. Active on many committees for American Banker Association through the years.

Member of Detroit Board of Commerce (and has been a director); a Director of Economic Club of Detroit since its organization; member of Detroit Committee of Council of Foreign Relations; member of Corporations Gifts Committee and Director of Detroit Metropolitan Community Chest; Trustee Greater Detroit Hospital Fund; and has acted on several other civic enterprises. At present a sponsor of Detroit CAR Committee, and during war acted on several war-time committees, such as Defense Savings Committee and Victory Fund Committee.

Trustee of Harper Hospital and American Cancer Society; Treasurer of Field Army of American Cancer Society and member of Board of Directors of Michigan Cancer Foundation; Director Detroit Chapter of IMCA; director Detroit Chapter American Red Cross; director of Chrysler Corporation and Standard Accident Insurance Corporation; Trustee Equitable Life Insurance Company of Iowa; director Michigan Post American Ordnance Association; member Greater Detroit Hospital Fund Corporation Committee; Vice President of Detroit Clearing House Association.

Governmental service 1943-1945, Chairman Price Adjustment Board, Central Procurement District, Army Air Forces. Organized this operation for 13 states, with offices in Detroit, Cleveland, Chicago, and Cincinnati. In 1943-44 at request of Secretary of War Stimson, went to Washington to be Chairman, War Department Price Adjustment Board, and Director, Renegotiation Division, Headquarters Staff Division, Army Service Forces, and Chairman, Joint Price Adjustment Board and later Chairman, War Adjustment Board, and Treasury Department; Maritime Commission, War Shipping Administration, and Reconstruction Finance Corporation. In 1945-1956 at request Under Secretary of War Robert P. Patterson and General Lucius D. Clay (US Army Commander in Europe), went abroad to serve as Deputy to Military Governor for Trade and Finance; Financial Advisor to US Military Governor of Germany; Director, Finance Division, (OMGUS) Office of Military Government, US-Berlin, Germany; Director, Financial Branch, (USFET) US Forces, European Theater-Frankfurt, Germany.

Sept. 18, 1946 received Medal for Merit, highest civilian war award, from Secretary of War Robert P. Patterson. Medal for Merit is awarded only by President of US for "Exceptionally meritorious conduct in the performance of outstanding services in the war", and ranks with military Distinguished Service Medal; May 2, 1947 at request of Secretary of State George C. Marshall went to Vienna, as US Representative on Austrian Treaty Commission with personal rank of US Minister. There until September 1947; November-December 1947 attended meeting of Foreign Ministers in London, as Deputy to Secretary Marshall for Austrian affairs; June 1948 appointed as member of Financial Advisory Committee of European Cooperation Administration by Mr. Paul Hoffman, Chairman.