CREATE TABLE table_1342198_38 (party VARCHAR2, first_elected VARCHAR2, incumbent VARCHAR2)

What is the party for first elected 1948 for william t. granahan
SELECT party FROM table_1342198_38 WHERE first_elected = 1948 AND incumbent = "William T. Granahan"
SELECT "party" FROM "table_1342198_38" WHERE "William T. Granahan" = "incumbent" AND "first_elected" = 1948