Show I F THE DAILY NEW YORK F Financial Fina J Whirligig ir I Written tn for or The Th Telegram 1 By JAMES McMULLIN NEW V YORK YORK Civil Civil war clouds are growing darker on the stock exchange horizon Nominations Nominations Nominations Nomi Nomi- nations of officers and gov governing committee members are due this month an l may be used by rebels to push through an insurgent slate against the regular Whitney ticket Present authorities show no signs of yielding the reins of their own free will Exchange members have received a circular from the nominating committee which cannily avoids the direct suggestion that current officers and committee committee com corn members be but names the themen themen themen men whose terms are about to expire and subtly infers that they are desirable candidates Its It's a long time since anyone bucked the nominating committee but put its it's likely to happen if the rebels rebels rebels reb reb- els can get together and find leaders willing to take a chance The head of one of the largest wire houses is is mentioned all over Wall Street as Whitneys Whitney's opponent but hasn't yet indicated willingness willingness willingness will will- to accept the call Members l Want Wait New Deal DealA DealA A A. sign significant sign of the times is the altered attitude of some some of the oldest and most conservative conservative conservative con con- houses A number of them privately admit that a shift of managing personnel would be all to the good They figure it chiefly as a matter of public relations relations relations-on on the ground that Whitney and his associates are in so wrong with congress and the public that the exchange has no chance of getting anywhere except under new management The houses in question will carry plenty of weight when it comes to a showdown The same conservatives add the important that the present officers and directors must be ousted after a fight not fight not merely give place peacefully to their own chosen successors sUccessors sUccessors-in in order to convince the public that the exchanges exchange's new deal is sincere This gives the key to some inside strategy that may soon develop openly Canada as Bait Local opponents of the securities act are planning to spring Canada as the ace in the hole in pressing their demands for revision It works this way The province of Ontario Ontario On On- tario tanio will soon be in the market for of new financing Ontario has a Grade A credit rating and normally the issue would be floated here A number of leading New York bankers would be glad to handle it But its it's more than possible that Ontario will object to answering all the intimate questions required by the federal trade commission as a condition of registration In that case London is certain to get the offering The argument runs that London financing would mean a closet closer Canadian tie with England at the very moment when we are trying to promote promote promote pro pro- mote our Canadian trade The boys think they have a Q E. E D. D Copper May Ask Subsidy The copper folks have hauled up the white flag on their code and tossed the question of oi fair competitive practices squarely into the governments government's governments government's governments government's gov gov- lap There are dark hints in inside popper copper circles of requesting a l direct subsidy to save the industry Domestic copper producers have had the grief of watching foreign markets enjoy the thrills of a buying wave while their own have remained at a standstill because of high costs and surplus stocks Purchase of mined American-mined silver by the government has b been en no hel help help- quite help quite the re re- re verse In order to get the desirable byproduct prod by it has been necessary to bring a lot more unwanted copper above ground Even the European European Eu Eu- and Far Eastern demand for copper for armament purposes has been pretty much of a aw w washout shout in the matter of using up domestic stocks Black Gold Stirs Optimism The oil industry continues to see boom times ahead Consumption is still on the up-grade up and prices appe appear r headed for the moon unless the consumers consumers' board or some other government agency objects too strenuously Insiders predict predict predict pre pre- dict there will be very little oil in storage by the time summer is over Since 1930 the nations nation's oil supply has been reduced by a billion barrels net That much more has been used than discovered The situation ol has reached a point where where discovery discovery discovery dis dis- dis- dis covery expeditions are seriously at work in Various various va va- rious rous parts of the country trying to unearth new fields So far their finds have been tan tant t. t S S S That time all-time high in member bank excess reserves wont reserves wont won't hurt future government government gov gov- financing a bit S S S New York may have another taxi strike soon A lot of drivers think they were sold out the first time S S S English railway stocks are arc now selling in the aggregate gate far more than they did in 1929 American railway bosses would like to know the secret 1 Copyright 1934 br by Newspaper |