| Show INSIDE STUFF ON ONi POLITICS i FINANCE WASHINGTON By Paul Mallon Mailon Cop Copyright right McClure Newspaper Syndicate President Hoover is privately play play- lag ng around with the thc idea of a master masterstroke stroke on the debt situation What he really wants is to swap the ic deb debts of ot Europe to tous us for real disarmament That has been back In n his m mind nd all along He dared not suggest it The senate would have torn him limb from limb S a a e SO o 0 Some close advisers have urged the president resident to break some such development devel devel- during the Democratic con con- That would take the edge oil off ff the opposition show More cautious friends persist in the advice that he should wait walt until after the he elections are over They think cancellation would be very unpopular in n this country right richt now even if ift it t did bring benefits later They may prevail in the end I What could then be expected is a serIes cries of developments to educate the press and public to the necessity for concessions Hoovers Hoover's ace will be an European arms cut It will not get et cold old in his hand once he sees It there to S S a S aThe The debt question may furnish a n good fight for the Chicago conclave Al Smith included his plan of swapping swapping swap- swap ping jing the debts for foreign trade in inis his is original word 1000 platform That vill wm not please Garner and some of the he other factions though it originated ed in Kansas S S President Hoovers Hoover's hidden genius as director and star in his own movies Is s Washington's deepest secret Even the cameramen have been sworn to silence The nosey senate has las no idea It has pot not learned for instance that Mr Hoover did not memorize his lines when he faced the camera to repeat what he had told the he senate in a recent speech The president authorized words of the speech to be printed on card card- board The type was large enough so he could see it a few feet away The were placed beside the hc camera Facing them both he performed performed per per- formed a feat of long-distance long reading It looked as though he was delivering a fluent address extemporaneously e S S Official dinner tables arc are also buzzing buzz buzz- ing ine ng because the White House personally personally personally person person- ally invited the movie men to make the he picture Usually they beseech the White House for tor anything they can get Most times they are arc turned down George eorge Akerson former Akerson-former former secretary and now a time big-time movie man was man was in on this In this case they were expelled from the senate when they tried to film the actual reading of the speech The expulsion was personally negotiated by Arms Sergeant Barr Barry Barry never moves without orders from Republican Leader Watson Senate Republicans obviously did not want that speech recorded The White House did S e S S SOnly Only Democrats have been burned in the senate stock market tion That may be a coincidence but butI I it caused the Republicans to seek more money to continue the inquiry The committee has at last struck a trail that may bring pay dirt I It Itis Itis is secretly working over 50 cases o of stock market activities looking for violations of the income tax law Investigators privately figure on reaping a n hidden harvest of back taxes for the treasury They will make public only the best of the 50 cases That is a far cry from the OrIginal purpose of exposing market shorts But it is the only prospect of making snaking the investigation worthwhile S S S a I While home ill lii Garner conceived the idea ot issuing his platform before the convention It clinched the Inclusion of a repeal plank in the platform When Garner headquarters headquarters head head- quarters was opened in Chicago State Senator of Texas said In Inthe Inthe Inthe the light lIcht of recent publicity Mr Garner Garner Gar Gar- ner is in much better position with the rank and file tile of the voters than is Mr Roosevelt and besides Mr Garner is well fitted to make a strenuous ous campaign It sounded like the first crack erack of the political season at Roosevelt's underpinning Newton Baker has a formidable array of hidden strength among amone the Democratic Democratic Demo Demo- cratic delegates Alabama Kentucky Kentucky Ken Ken- tucky and Virginia are among the delegations listed as favorable to him If the convention goes gocs that far tar A sigh of ot relief swept administration Washington at nt the news that Dr John R. R Brinkley of ot Kansas may support Mr Hoover He is n a power ou out there NEW YORK By James McMullin Copyright McClure Newspaper Syndicate The New York state bank brink commissioner commis commis- is considering a further relaxation tion ion of balance sheet requirements for forstate tate state banks State banks are already allowed to carr carry certain high grade securities at cost and md to place an arbitrary discount dis dis- count figure on certain lower grade bonds The idea now is to knock of off the he discount and to permit valuation of all aU bonds at cost Permission may also be given to carry stocks at a aprice aprice aprice price above the current market markeL This step will help the balance sheets of the he country banks considerably Any steps that ore are taken will be adopted without publicity Paper solvency sol sal vency is safe sate enough so long as wholesale wholesale wholesale whole whole- sale liquidation Is not forced At the some time the commissioner commissioners is s tightening up tip on the matter of maintaining capital unimpaired The directors of several upstate New York banks janks have been called upon for con con- Fully paid capital is not noto notto notto to o be dependent upon accounting al al- al Some of the directors' directors contributions have lave been in the form of promissory notes These contributions are often otten the only kind obtainable but they did little good in certain western sta states tes c t S S SA A man who lives in a New York suburb formerly a leader in the thc insurance insurance insurance in in- field was recently observed mowing his own lawn A neighbor kIdded him about it Oh said he its not my ray lawn now Its It's the banks bank's lawn The R. R F. F C. C has rendered assistance to o one out of every seven banks Inthe in inthe inthe the country This is not as important important important tant as it sounds because most of the banks were small S o S S G The group of industrialists working for government economy are having difficulties in agreeing on a program Most of them wan want t to form an organIzed organIzed organized organ organ- minority comparable in political power to the lobbies of the American legion the Federation of Labor and the farm organizations A few are holding holdine out for a 3 more sweeping organization organization or or- which will wm include cooperation cooperation cooperation tion with the above named agencies 0 S S II P Fire and casualty insurance companIes com corn panics are revising their investment policies as fast as they can wIthout taking too heavy market losses A number of them have dipped into Unearned unearned unearned un un- earned premium reserves Others like the thc Rutgers Globe have reduced capitalization The insurance com corn missioner has passed the word around around that changes are In order J 9 S S S it The surplus supply of or sugar Is being betag be be- ing tag absorbed more rapidly than was expected This accounts for the recent recent re re- re cent rise in sugar prices Cuban producers are pretty sore at Mr Ur Chadbourne and the New York banks The They claim they got the short end of ot the deal Their production production production pro pro- has been cut three times as much relatively as that of Java and the he banks have additional collateral in n the form of ot Cuban government bonds to show for any assistance they have lave rendered Political unrest is being be be- ing jag built from the deaLS deal S S ft II Standard Oil on of New Jersey is In a strong position among the oil companies compa compa- nies But If it had not been for tor Imperial Im Im- penal Oil of ot Canada the earnings statement for 1931 would have shown a deficit 4 S |
