Waller Stevens among the highly paid industrial leaders? (3,4)
I believe the answer is:
fat cats
'highly paid industrial leaders?' is the definition.
'fat cats' can be an answer for 'leaders?' (I have seen 'Leaders of commerce' mean 'fat cats' so perhaps 'leaders' could also mean 'fat cats'). I'm not certain of the 'highly paid industrial' bit.
'waller stevens among' is the wordplay.
'waller' becomes 'fats' (I've seen this in another clue).
'stevens' becomes 'cat' (I can't justify this - if you can you should give a lot more credence to this answer).
'among' means one lot of letters goes inside another (inserted letters are placed among others).
'fats' enclosing 'cat' is 'FAT CATS'.
'the' is the link.
Can you help me to learn more?
(Other definitions for fat cats that I've seen before include "Leaders of commerce" , "wealthy businessmen produced" , "important people" , "Large Persians" .)