Show s fu r J N SID E STUFF Politics and Ji Finance w. w WASHINGTON By Paul MaMon Mallon 1933 by Paul Mallon Malion The flie new dealers smile and look t the ether lUler way when you ask why Greece S J changed her mind about Samuel Insull They have protecting reason tol to I l' l S. S They tried every open diplomatic means meaDs of making the Greeks release il I the dethroned utility king with no uc nor nor r whatever They sent special r success representatives to plead with the theS I S c Greek c courts They denounced the extradition treaty with Greece in one J IJ jS Jf of f the sharpest notes that ever wen went it out ut ut of ot the state department All ft Greece did was to shrug its shoulders j 5 and ind pat Insull on the back The tactics that later brought rec ref re re- i subtle It is clear clearL more f were c wits jults the matter as asI chalk up I tt L that you can I another nother victory for our new general I V International policy of Yankee trad- trad 8 in t S SUBTLE SUBTLETIES IES I Minister g p It It seems that American tf at Athens was instructed I Washington to bring a little from arom Informal economic p pressure to bear But he leti let liRe u He did nothing official i the G Greek government know in devious devious' ways that if it wanted Insull e r- r it would have to peddle its olives and andI I olive oil somewhere else than the f Unite States l. l J. J That is i a l language the Greeks uni un un- c i Their exports to us amount tI J to less than annually in incurrent in incurrent incurrent current bad exchange times but 10 10 t 0 is important to them i Simultaneously the Greek minister here litre S was wa seen in Irs state department corridors S 'S seeking a good quota for fortl forS tl S Greek wines wine He noted that he was wasH H- H K unable to get any consideration If It fV be he was not told outright he was at r ii C. C 1 least ast led to believe that the Insull wines Within a use case had a bearing on J Juse L three days daya after the temporary wine quota list was given out Greece announced an- an ii rd its decision dedsion S to f p relinquish i i ft SS Just c call Mr Roosevelt Skipper g w- w All the inner mner circles do in private t They hit hiton tor III that ac accurate ur te personal t title beca because s of Mr Roosevelt's manner manner man- man if r ner net of issuing orders He Be acts acts' as if f r- r hij governmental hiS associates w were rethe rether the thet t r b friendly members members' of ot the crew of his respect him himi 5 yacht and they generally i In the sa same e way You may recall that Mr Hoovers Hoover's S. S f Inner associates formerly called him The chief chiet f lI QUIETUDE S There will be fewer public speeches General Johnson hereafter and fewer ewer national radio appearances r That flat much seems to have been deli de li tided cEded between Johnson and the WhiteHouse white House but the reason is not clear Probably the time for speechmaking r has haj passed The general has plenty else eke to todo do j. j Johnsons Johnson's literary secrets were ex cx ex exposed I. I posed in that consumers' consumers council meeting recently at the White WhiteHouse House y The Ibe exposing was done by his cont con con- SS wrner lumer aide Mary Rumsey She told t r the assemblage that when the genera general gen gen- r S era eral was at West Point he wrote short stories He turned out a lot of them 11 and d the they were vere good cn enough ugh to make c him believe he might have a future in th the short tory story field But the point she he made was that th the picturesque S language used by the general in the theS S N R Ii A campaign is taken from these theseS old eld stories They reeked with Nean S S chiselers and crack crackS crackdowns S 'S downs F FAUX UX PAS Agriculture Secretary Wallace WallaceS 2 5 on the toes toe of ot consumer S House confer confer- workers at that White I ence enee He thought the efforts of the theS I government so far in that respect had hadi hadnot lJ i S not been effective and said so He HeS S described the work as 8 mostly of ot the theS S 4 study group type l Wallace must have seen the looks on the faces face of the there r he hastened to bUmbled assembled be because aUe idd But ABut that is all to the good sin tc A an aT to the go good od Director Dou the the of co consumer sumer council movement said he would soon Continued d on Pa PaRe Pale e Seven INSIDE STUFF Politics and Finance Continued from franz Pat Pall One have local councils created on ona a strictly nonpolitical nonpartisan nonpar n basis One of the local council women nudged her neighbor and whispered It isn't true they only ap appoint I Democrats If U Dr Douglas had heard her the meeting might have havo become more snore lively He is 13 sincerely trying to keep politics out of his outfit You will know the answer shortly when names of your local councilors are an NOTES You rarely see a dry lobbyist Inthis In Inthis Inthis this town any more They overran it ten years ago The other day F. F Scott McBride league walked Into the ways and means committee committee com corn and no one recognized him a aThe The ways way and means committee e tax situation Is a fair first example of what usually happens when congress comes to town The congressmen naturally naturally nat nat- naturally think they know how to write tax lax laws better than the treasury experts experts ex ex- perth and are trying to ditch the treasury treas ury plan Regardless of ot which plan is best confusion and squabbling always al ways result In this case the treasury plan probably will prevail in the end a as Fred Howe of ot consumers' consumers council recently recalled that when he was a aboy aboy aboy boy it was a disgrace for anyone to accept charity but he has not heard the word charity mentioned in six months 5 as Someone asked a midwest senator recently how things were in his state saying You dont don't hardly get the necessities of life me out there any more do lo you No re replied lied the senator and what you do get is hardly fit to drink rink NEW YORK By James McMullIn Copyright McClure Newspaper Syn Syn- The new deal may soon draw a Z statement of public support from top rank ank New NEm York sources Most people will be as surprised as if Bishop Cannon Canon Can non on were to cheer for repeal Important banking interests are arc conducting a warm inner debate with themselves over the wisdom of such action Those in favor are no not exactly enamored of Roosevelt policies but believe they have hava come to stay and figure it would be sensible to line up with the winning side Those opposed still want to La sit It back on their haunches launches and wait for events to play into nto their hands hand Curiously tho tao older generation in the debate is u more in in- inclined inclined dined to vote aye than the younger The weight of tradition and impulse is u against such astep and no final decision de do has been reached But its it's safe to predict that at least local hostility to o Washington measures will be toned down sharply for lor some time to come Whether or not the statement is published published pub pub- New York York except except for certain utility Inter Interests Interests Is ts is tacitly ready to accept ac ac- copt Roosevelt leadership without further further fur fur- ther argument It may turn out that New Yorks York's financial brains and experience will enlist in the administrations administration's service instead of against it much sooner than ban anyone expected SPLITS The big Investment banking firms firms- J. J P. P Morgan and Kuhn Loeb are Loeb-are are working on plans to separate deposit and security functions function as per Glass act requirements They have until June to complete reorganizations but announcements will be made before then In both the solution will probably probably ably be a split up into two one Ions one ne to handle commercial banking and the other for security business In the Morgan case at least the he firm name will be changed for such uch partners as stick tick with the security securIty ity ty end nd J. J P. P Morgan personally will remain remain re re- main a banker A coordination of in in- crests teresta with other commercial banks Is s possible and would r restore the Morgans Mar Mor gans gaas to the top of the banking heap SAFE The Chase banks bank's Increase of capital cap capi tal W. to cooperate with the government governments form of Is s due dUI to take the a preferred stock Issue The bank has the right to sell all or part of the Issue to its present stockholders end and will do so Insiders expect the Rocke tellers ellers to take of it for themselves This way the management prerogatives prerogatives tives Involved in preferred stock remain remain re re- re main in safe hands The Chase will oblige the IL R. F F. C. C without laying itself it il- self open onen to R. R F. F C. C intrusion nl on con con- trot Other local bankers concede that the Rockefellers know their oats ANSWERS Now New York bank officers are doing lots of home work these those days They're trying to figure answers In advance to all the questions their stockholders may ask at forthcoming annual meet met ings They anticipate pointed queries about salaries and md such as an aftermath aftermath after after- math of the Wiggin testimony The crop of shareholding trouble shooters will wUl be l larger than usual INSURANCE Several New Yorkers have seen advance advance advance ad ad- vance vance copies of ot an au official government govern govern- ment announcement on deposit insurance in p to ie be made this week or next U It will stats tat tha that all banks qualified for or deposit Insurance have been carefully care care- care I fully ully examined and certified as sound Local x cal bankers are arc much less about troubles arising out of Insurance lIl than they were a couple of months ago CLEARING HOUSE The status of the New York ClearIng ClearIng Clear- Clear Ing ng House association will be acutely In n question as a result of the Harriman Harriman Harri- Harri man bank suit suiL If it ft develops that the he clearing house has bas no authority to commit its members which members which is probable its probable its prestige and Influence hit tho the toboggan toboggan perhaps perhaps per per- LIQUOR Some of the best known local speakeasies speak castes are bone dry today loday in spite of ol holding legitimate licenses maiden Insider In n the liquor business supply a nove novel explanation for lor the shortage of bev beverages Ir story runs that one of the outstanding out out- standing landing distilling corporations has bought up the entire supply of the four our largest bootleggers in New York These controlled 95 per cent of the business Licensed retailers find the situation a grand help and smile over the he way the deal is i officially de- de scribed Local liquor Import Importers rs see a happy break in the government drive to kill of off ff the b bootlegger They hope for forlow tow low ow tariffs and unlimited quotas until the he the booties are arc officially squelched squelched- which might be a long time Squawks against the New York tate state boards board's liquor licensing s system arc are multiplying like guinea pigs Charges of political favoritism will willbe willbe wille be e served hot and heavy when the legislature meets and the drys arc are already gleeful SIDELIGHTS Part of the current dividend waves wave La Is s due to fear of taxes e F are re rc surpluses bec because of reports that idle capital will get s SH s. congress New York c. c c Co lives ives are disappointed in Professor Sprague They say his Big Bertha Jertha turned out to be a popgun Insiders say that E. E R. R just ilus just appointed vice chairman of U. U J. J S. S Steels Steel's finance committee will committee will wille be e groomed as DS Myron Taylors Taylor's heIrI heir- heir I apparent |