Show i N SID IDE E 1 STUFF Politics and 4 Finance Ce McClure NO Newspaper Syndicate WASHINGTON By Paul Paull lallon Mallon The bl hie fellows who ho sit in swivel chairs chitri and at least leat think they know r what Is colne on will tell you con confidentially eon on the they see ee now the first faint glimpse of a a. silver sliver Inthe Inthe in inthe the business gloom Not only the foreign but the do do- situation is thought to be on much stronger ground Nothing will Mill willbe be said publicly ly for fora a while yet They r have hive been fooled by too many mirages t too recently The fundamental background of the new picture is is the first slender r i sign of stabilization in commodity prices es Labor department statistics show a betterment of of 1 or 2 per cent f during the past few weeks Behind that is the fact that consumption at atIat lat hut is slightly ahead of production in some fields r The stock market showed wise vIse buying buying buy buy- ing lug in important quarters the early t part of the week Prices there blow with the daily winds The rhe latest confidential conSy conS con y r breeze brought the hint of ot administration action to settle the I debt and disarmament questions and andl l was largely responsible for the upswing up swing The bond market Is a better barometer eter because it records the ground ground- swell Dow Jones figures indicated it had recovered early in the week weck I about 73 per cent of the slide it took just before June 1 That is impressive to the higher 0 A bad factor has bE been en recent small bank failures in certain localities The smaller fry proved unable to stand the gaff gate longer On a broad basis that improved the position of th the remaining banks They are getting getting get get- ting whatever cr business there is A good factor is the prospect for better prices in wheat cotton and livestock during the tb weeks f a- a Some very g good od work Is supposed to h have v vc been done don on on on- the inside by bythe bythe the federal r reserve district regional advisory committees They have been functioning well in Jn some communities ties ti indifferently in others others- It is contended that they have found many places for loans and some banks to tomake tomake make them Credit is supposed to have been loosened thereby I A national meeting of these groups or the leaders of them is in the mak ing Hypodermics planned by the H. H F. F C. C have been held up b by the trouble the president has had in filling out the board The They will get the needle to working shortly It w will vilI do mote good on the upswing and political criticism is supposed to have been chloroformed S S Statements emanating from high sources that the Geneva disarmament conference made progress are pur cst est bunk The only progress made at Geneva backward It was was a dismal failure The only prospects of disarmament any time soon lie in the way of administration ad ad administration administration ministration action to trade off debts for It Even then it will be hard to get r real al disarmament France is ready for it it Germany Germany- is ready to work with France but the smaller I 4 nations of Europe which France represents represents rep rep- resents are arc militaristic creations Mellon has not done very well at London The administration privately blames Its returning amba ambassador for the bad publicity it got on the economic conference conference conference con con- ference proposals and on the gentlemen's gentlemen's gentle gentle- mens men's agreement at Lausanne The state department was squeezed into a bad position regarding the economic econom econom- ic conference because of announce announce- merits ments made by the British govern govern- ment It ruined the prospects for the conference at the time The same thing thine happened on Sir John Simons Simon's speech wheedling us into the gentlemen's gentlemen's gentlemen's gentle gentle- mens men's agreement The understanding in En high circles i here has been that while the admin admin- i will not push Mellon out it on OD Page ue Two fio r- r I INSIDE i STUFF Politics Finance Continued from race rau One will offer otter no obstacle le to his retirement retirement retire retire- ment if he would like to go 10 Inwardly it would be pleased if it he should hould go Mellon never got alon along well with Mr Hoover anyway When they were In the Harding and Coolidge cabinets together they had little respect re re- for tor each other One of Melons Melon's Mel Mcl ions on's chief troubles appears to be that he le cannot understand things on the telephone He never learned to use that implement efficiently Latest inside information from BerUn Serin Ber- Ber in Un was that Hitler would get about I 48 8 per cent of the German vote tomorrow to to- morrow They figure Von Van to o win because he has control of the polls There is some suspicion that hat Hitler docs does not care to win while Von Hindenburg is still president Republican publicity men are arc cuss cuss- lag Ing ng because the press failed to note prominently the fact that the Roosevelt Roose Roose- velt relt yacht met with no public reception recep recep- ion tion in Massachusetts on its recent cruise NEW YORK By James Jamea McMullin Wall Vall streets street's volatile psychology is much in evidence again For the moment mo ma- ment z-nent at least the atmosphere is one of elated confidence that the turning point in the depression has been passed The rank and file We can see sec nothing but roses ahe ahead d. d A good many authorities are not entirely con although they are arc m more re hope ful ul than they have been for tor some time ime a S Informed opinion is confident that the he firming of ot commodity prices in inthe inthe the he past six weeks is considerably more than a flash in the pan Experts Ex Ex- crts expect a slight softening when the he bulk of the grain crops arc are thrown on the market but do not anticipate a further serious decline Several large corporations corporation have found a significant change of viewpoint viewpoint viewpoint view view- point on prices among their jobbers and retail dealers Up to a few weeks ago the clamor was always for tor furher further further fur fur- ther her reductions Almost overnight this his attitude has been sharply re re- versed Dealers are tired of ot writing down inventories Second thoughts on the four road consolidation plan indicate strong doubts whether it will ever be officially of of- ratified Pennsylvania's opposition to abandoning abandoning aban aban- its holdings in the New Haven railroad is very firm This opposition oppositions Is s particularly strong on cn the part of at directors who represent financial in in- The feeling is that if It Pennsylvania Penn Penn- sylvania now yields its position in New Tew England it can never regain it There is reason to believe that Pennsylvania has sounded out the theother other other members members of the eastern big four our as to the possibility of getting compensation from them for sacrificing ing its New England holdings The Theother Theother Theother other roads arent aren't even faintly inter inter- ested An interesting feature of the latest Union Pacific report is attracting attention at at- here This roads road's income I II from Crom Tom dividends of at its affiliates was I two wo and a half million dollars higher in n the first six months of 1932 than thanIn thanin thann In n 1931 holdings are responsible S S The National Economy league has gotten down to brass tacks with an organization meeting in New NewYork York It now has more than members mem- mem hers bers jers and is represented in 30 states The rapid growth of ot its its- membership was facilitated by the assistance of corporations who circulated its petition pe petition pe petition pe- pe among their The original sponsors Of the league are anxious to focus its immediate activities on the elimination of payments pay ments to veterans not injured In the service Their objective is to counteract coun- coun the power of the thc veterans' veterans lobby through the influence of organized organized organ organ- masses of ot voters They feel that I they can accomplish more by concentrating concentrating con con- on this point than by scattering scattering scat scat- terin their fire There was some disagreement among the delegates on this issue Several thought the problem should be pe tackled in broader terms terms ella elim elimination of useless bureaus etc The original objective will probably win out out and and interesting developments in inthe inthe the he American Legion can be looked for Copyright McClure Newspaper Syn Syn- cate |