Edward L. Norton
Edward L. Norton | |
|---|---|
| Member of the Federal Reserve Board of Governors | |
| In office September 2, 1950 – February 1, 1952 | |
| President | Harry S. Truman |
| Preceded by | Ernest G. Draper |
| Succeeded by | James Robertson |
| Personal details | |
| Born | June 13, 1892 Blountsville, Alabama |
| Died | April 12, 1966 (aged 73) |
| Education | Birmingham Southern College University of Alabama (JD) |
For engineer and scientist Edward L. Norton, please see Edward Lawry Norton.
Edward L. Norton (June 3, 1892 – April 12, 1966) was an American banker that was a member of the Board of Governors of the Federal Reserve System from September 2, 1950 until February 1, 1952.
Early life and career
Norton was born in Blountsville, Alabama, in 1892. He had earned his bachelor's degree from Birmingham-Southern College and a doctorate in law from the University of Alabama. In 1915, he had started at the Munger family of companies as a private secretary to R.S. Munger of Munger Realty and, in 1924, he was promoted to executive vice president. In 1926, he became executive vice president of Munger Mortgage Company. In 1939, he left the mortgage company to accept his appointment as chairman of the board of the Birmingham branch of the Federal Reserve Bank of Atlanta.[1]
At one point prior to his Federal Reserve Board of Governors position, he held the following positions:[2]
- President of the Birmingham Baseball Club
- Chairman of the board of the Florida Broadcasting Company of Jacksonville, Florida
Career
Norton was appointed to the Board of Governors by President Harry Truman in 1950. He later resigned in 1952 to pursue business interest. The following is this letter to the president:[3]
My dear Mr. President:
Certain personal business obligations make it necessary for me to submit to you my resignation as a member of the Board of Governors of the Federal Reserve System, effective February 1, 1952. This matter has been discussed with Chairman Martin.
Since you are the inspiration or source of my appointment to the Board of Governors, I feel deeply indebted to you, and I covet the opportunity to reciprocate.
Yours respectfully,
EDWARD L. NORTON
On November 17, 1953, he was one of the 31 first members of the board of trustees of the Eisenhower Exchange Fellowship, Inc.[4]
References
- ^ Federal Reserve History: Edward L. Norton
- ^ TIMES, Special to THE NEW YORK (1950-05-27). "ALABAMAN NAMED TO RESERVE BOARD; Truman Picks E.L. Norton for 14 Years--Reorganization Positions Are Filled". The New York Times. ISSN 0362-4331. Retrieved 2025-07-19.
- ^ Norton Resignation Letter to President Truman
- ^ "Board of trustees of Eisenhower Exchange Fellowship, Inc | Harry S. Truman". www.trumanlibrary.gov. Retrieved 2025-07-19.