| Show N S SID I D E fI STUFF S T U F F Ft t J Politics iIo and andI I t Finance McClure re Newspaper lp r Syndicate k- k WASHINGTON r By Paul raul MallonI Mallon Malta a aThe I The e federal power commission has bas hasine already a ine ne ie Democratic g have a number of other bureaus I hou So officials want to hold hold their heir jobs t ter Roosevelt gets in lD This is no time timet I. I t let old policies stand in the way of to ta v k Septa a Job They are arc too hard to I get to is one explanation of why the commission granted its first power to toa a state this week It gavet gave gaver Illinois license the right to build a adam dam and andr units on the D Des Plain Plaines s an and r Illinois three rivers That is the first li linse li- li t r cease nse enSe given n to a state in the history of cIa commission the last It will wul not be S exhibited by Similar foresight was Director limes Hines of veterans veterans' affairs in proposing r a Democratic kind of a cash cashi f i bInus nos Dal lie wants to pay payoff oft off a higher 1 present resent day value alue on the insurance I would The government c certificates f brek b break k even on it in ill the long lone run be be- 1 the present day value would I be lie much less than the maturity l flue t I the Idea win will not jet get very far as Itt it I organizations are arc op op- 5 nell Veterans Veterans' t r Med to It because it will vili not give rhoe Luie the he veterans the maturity amount t There is no indication that I t Mr Hr Hoover will accept it It Roosevelt fe I Congress may work out ome some comI com J I premise remise which w would v uld be satisfactory III all aJl around That is not In sight yet S S Nobody need get excited about the ideas for issuing printing press s-press press money The ThC bill is not going through You could not get more than I handful of votes for it in either F house r When and if inflation is undertaken I It will be done differently It prop prop- t not yen ven be called by that name name What the majority of those interested interested interested in in- have in mind is the L' L lion Uon of easier money easier credit and ind higher prices S S S Our dollar is more mote solid soUd now now than It ever has b been fD It Is more snore solid soUd than there re U Is any reason for tor Banks ar are loaded with cash and aDd government ll Bonds nell They say they cannot find enough good rood commercial loans Joans R. R F. F C. C Chairmen Chairman n F pomerene merene says some tanks are selfishly trying to keep too liquid and will not make eve even even desirable desir able ibis commercial loans That charge Is J Jl sl true t t today day dayas as u when when- lien President Hoover made it year ag ago aro The he non lion has not changed much S S The budget savings promised by the p president is really only net That includes cs th the veterans' veterans cuts It is im I t I probable congress will go along with V that item l k In handling its ils figures the govern govern- Is in the same position you f would be in valuing your assets If It l fl you were fixing valuation for the tax collector you ou would be inclined to be beI I pessimistic about your worth 6 0 If you were trying to get a loan from the bank you would be tie tic That leeway might slide as much u 50 per cent of your alue value Economies cannot be counted until they are arc in the bag They are a long longvay longway way wiy from that now This is the last time we shall ever have ha to worry about sessions of ot congress con- con 1 cress gress and delays in installing new ad ad- ministrations Thirty-seven Thirty state legislatures legislatures legis legis- meet next year That should assure ratification of the Norris conr con- con t. t II r amendment before next t- t December f r It is one of or the most Important steps t toward ward orderly government that has N been ben taken in ten years The author is Senator George Norris of Nebraska 0 S S Those Thole close to Senator Jones Jonel know Ills defeat killed him u He Be was one of the few sincere and andI nd s h I nest ut drys in congress He lie got ot that i t f way from personal experiences while he was a achild child You would have lave been beena I a prohibitionist too if you OU had bad suf- suf J as he bad had Only his intimate V I friends knew the story i. i lib DIs state went wet on him He lie could f i not Dot ot change his deep rooted deep rooted dry feeling f fast lt enough to keep up with the new r generation S S F The Japs cannot move into before spring prins Their plan to capture that province has been held up be be- Cause they feared the world reaction It tb the league of nations had not been considering the Manchurian question the he Japs would have gone ahead The movement is only a matter of lime e. e All AU Jap statesmen look on ITt tta 11 the same ame category as the other Man Man- Manchurian e urian provinces provinces' already held S S S You You can safely wager your fortune that at Senator J Ham Lewis will vote for beer this time in Illinois flIt Illi no nois f following his ire fai-ire to approve t the e Bm Bingham ham beer bill at the thc last ses- ses lIon ion U is the reason reason The wine vIne people H Lure are raising Cain about all the atten aUen- tion on being given beer without reg regard rd to t them m. m They are preparing a a for for- f. f lobby so wines can cnn float in int t ou on the b beer er wave Felix Frank Frank- furter- furter tHe Harvard arvard prof will ably be solicitor general under Roose Roose- vett If not he will go EO to Oxford to c The publisher of a large t oc y mountain newspaper lost a Continue d on P Pan e Two INSIDE STUFF Politics Politic Finance Continued From Paso One thousand subscribers a day for a time supporting Mr Hoover during the campaign He stuck to It n less lessA A dark horse in the race for forthe forthe forthe the agricultural cabinet post in the new cabinet is M M. L. L Wilson Montana A light horse is the son of former Secretary of ot Agriculture Wallace at Des Moines S NEW YORK TORK By fly James l Comptroller Berrys Berry's new plan for city finances is more acceptable to the banks than they expected it to be They do not share his optimism about the thc city not needing to borrow money In December December but but signs that city au authorities will follow Berrys Berry's proposals may help the interim financing quite a bit Tammany is unquestionably going to make to rehabilitate tate itself with the cash dispensers State legislature moves to reduce mandatory city salaries will meet less Opposition n than expected Th The leaders are arc telling the faithful they had better take a pay cut with their jobs or maybe maybe maybe may may- be next year there wont won't even be any jobs to have Newsreel shots of i Mayor elect OBrien O'Brien pledging economy econom and efficiency I em-I effi effi- dency clency have been on display In local theaters In several known cases cases they were created greated ted with a torrent of ot hoots and howls Caustic comments on OBrien O'Brien are heard from many sources which normally norm laugh off oU evidences of city misrule S e S e I It is said in informed quarters that Currys Curry's anxiety for a p personal interview interview inter inter- view with Roosevelt has to do with the advisability of appointing McKee McKee McKee Mc- Mc Kee either to a diplomatic post or to toa tonice a nice job in the treasury department depart depart- ment McKee's McKees refusal l to run for mayor on onan onan onan an Independent ticket this year may have robbed the election of a pleasant pleasant pleasant pleas pleas- ant little touch touch-of c comic opera Grover Whalen was all set to run as a counter countes independent with independent with full Tammany ap ap- ap- ap A suitable reward for Whalen's services might have been Deen the regular nomination next year Whalen's hopes for the the mayoralty still spring eternal He relies relics on backing back back- ing irig which normally tends to a a fusion lineup e 5 5 9 5 Governor elect Herbert Lehman still sun retains a special partnership in inthe inthe inthe the ba banking king concern of Lehr Lehman Brothers This might easily become a source of embarrassment and the financial district generally expects him to relinquish it before his formal Inaugural If It he does docs so he will be notably sacrificing personal income I S 0 The appointment wilf mark a sig- sig nt change of policy by one of the most important private banking houses in the country For years this company has remained aloof from the I active struggle for new business business- business I content with fth the Income from a large business In railroad financing built up in the past Walkers Walker's appointment is Ls isa isa a recognition of changing conditions and the new broom is expected to to tobe be pretty active Hanauer WM was as a a. railroad d expert Walkers Walker's contacts arc tre Indus indus- trial SO e eIt It is worth noting that if security affiliates of commercial banks becom become become be be- come com legally unpopular the private banks including Kuhn Loeb will fall faU heir to some very sweet business and it behooves them to be prepared Walkers Walker's attempt to throw the sec security rity r r. it ity affiliate overboard when he was wasl head of Transamerica was an important im im- factor in his clash with Gian- Gian nini No one in the financial district holds his ousting against him 0 S S The Irv Irving n Trust company's remarkable remarkable re reo re- re collection of receiverships is the cause of a good d deal al of private controversy in in Wall Wan street The company company com corn pany has handled more more than receiverships re reo re- re in three years There arc are doubts among leaders of the legal profession professIon pro pro- a as ato to the advisability of this virtual monopoly Take International Match That's a job for a man like the president of the United States States- not for a clerical department in a bank banc Right now five other othet New York banks are somewhat annoyed at atthe the Irving which is blocking their attempt attempt attempt at at- tempt to dispose dispose- of collateral held against the defa defaulted loans of ot Natio National National Na Na- tio al El Electric Power Any receiver would do the same but somehow the banks feel it is for another bank to act that that way S S S The Irving Trust originally got Into this type of business because one of its authoritative officers was sold the idea by judges that receiverships ought to be kept out of the hands of lame ducks and shysters This officer had had had-ard and still has has active active opposition within the ranks of his own associates to the bank acting as official receivers lot for this district The bank plenty lost of money during the thc first two years it tried its hand at the business buthe but bu the third year was distinctly profit profit- able Copyright McClure Newspaper Syn Syn- S. 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