Show THE DAILY NEW V YORK Financial Whirligig Written for The Thc Telegram ram by JAMES McMULLIN NEW YORK YORK Labor Labor has scored two notable triumphs in the past week Neither has attracted much public attention but open shop industrialists in In- arc jittery The unwelcome come writing on the wall looks much plainer to them now First was va the decision of ot New NewYork NewYork NewYork York Supreme Court Justice William William Wil Wil- liam Harman Black confirming thele the le legality of the closed shop under section l a 7 a in the case of the Doll Dolland Dolland and Toy Makers' Makers union versus Ralph A. A Freundlich The importance importance importance tance of this test was forecast here when it began It was a cockeyed sort of case The Freundlich firm finn had voluntarily fly ily entered into an agreement with the union before N R It A became controversial L Later it moved its factory from New Y York rk to Massachusetts Massa Massa- chu etts taking tal a few skilled workers wo alon along with along wilh with the avowed purpose of cutting labor costs When the union protested ted this as a aviola viola tion of contract the employer ingeniously ingeniously in in- retorted that th the agreement agreement agree agree- ment was no longer binding because it was based on th the closed shop and the closed shop was debarred debarred no no noless less by less by that prote protector tor of harried capital section capital section a. 7 What lifted the contest out of the class of oC routine labor squabbles was Its value as a precedent Both Ith contestants contestants contestants con con- got ot the strongest sort of backing because of this The National National Na Na- As Association of or Manufacturers quietly moved up in support of Freundlich You can see sec what it would have me meant to them to have havethe havethe havethe the company's argument upheld by bythe bythe bythe the courts The Federation of or Labor Labor La La- bor was very ery much among th those e present in the unions union's corner Alas AIls for the open shoppers Justice Justice Justice Jus Jus- tice Black minced no words in busting up their lovely logic Opponents Opponents of organized labor will now have to set em up in m another alley aIley This one is blocked for keeps tp p 4 The other labor victory was thelong thelong the thelong long delayed settlement of the New Jersey dyers' dyers strike The strikers several everal times turned n down concessions concessions conces conces- on hours and wages wages holding holding out for union recognition They I fi finally fi- fi nally got it because the pf pressure sure of competition from unaffected areas was too strong for the cm- cm Driving a wedge into such sucha a tight groove was n no mean accomplishment and and au augurs urs well for tor labor la Ia- bor bar progress on other fronts o oe eo But conservatives draw some consolation consolation con con- from the justice departments department's departments department's depart depart- ments ment's curious approach to the Houde case The government charges the corporate defendant with refusing to deal with exclusive exclusive sive bargaining representatives of all or any groups On that wording the company union is entitled to representation along with the organized labor outfit that corralled the most votes votes precisely precisely the point the national labor board hoard which instigated the prosecution is trying to disprove Labor circles arent aren't sure whether this was just dumbness or whether the attorney general who general who has never been keen about pressing the issue issue issue-is is playing horse with them Mr Cummings is distinctly on the right hand side of ot the fence per per- Whichever it is they dont don't intend to let him get away with it Tune Tunc in for vehement protests about this apparent technicality 0 QI 4 4 The only surprise to New York in Secretary current I fi financing fi- fi i nanc ng arrangement is the amount of new money involved Nine billion billion billion bil bil- bil- bil lion dollars was more than the boys had expected expected but but it merely whetted whetted whet whet- ted their appetite for his offerings I Insiders iders get word that the reason for this large sum is to avoid the necessity of or raising cash during the period when congress is likely to be feeling its oats No more will be needed till March March and and by that time its it's figured that either congress congress con con- gress will have gone home or be trained to heel at its masters master's com com- mand The most significant item in the financing Inanc n was the in 18 15 year 3 18 8 per cent bonds That's the longest maturity since the Mellon Menon were put over against banking protests The mere mention mention mention men men- tion of ot an year 18 issue at such a alow alow alow low rate would have sent Wallstreet Wall Wallstreet street into hysterical spasms even two months ago Now its it's taken in stride and almost without comment You can credit that to the thc new co co- co operation Many of New Yorks York's women leaders leaders lead lead- ers warm warmly approve of ot Mrs Roosevelt's Roose Boose- velt's veIls current radio talks talks and and especially especially es es- cs- cs of her references t to the problems of ot youth They feel she's saying man many things which have needed to be said for a long time Outstanding New Yorkers Yorkers both both men and women women are are privately giving a lot of thought to the generation generation gen gen- oration which has been leaving ving high school chool and college the past few years Theres There's a deep among conservatives and left lell wingers alike alike about about the hopelessness hopeless hopeless- ness of their outlook under existIng existing exist exist- ing economic conditions When the time comes for lor them to take takeover takeover takeover over from their elders cIders they won wont won't t be redy for their responsibilities Meanwhile they are plastic material material material mate mate- rial for any demagogue who offers them hope of betterment however betterment however illusory This last angle troubles many conservatives in connection with Father Coughlin's appeal to youth 44 Backstage Wall street Republicans cans arent aren't nearly as keen as you'd think for Charles D D. Hilles' Hilles efforts to make the G. G 0 O. O P. P safe for lor con con- One man who has been beena a lavish contributor contributor and and who is anything but radical remarks radical remarks that Hilles is beating a busted drum for fora a parade that p passed sed by an hour ago o e e Watch Tedd Teddy Roosevelt in this connection If It he sw swings over to the Borah rah McNary Mellon Mellon- Macy move to liberalize the party it willbe willbe will willbe be because influences potent behind behind behind be be- hind the scenes have told him that's thal's the smart thing to do His defection defection defection tion from the old guard ard would raise Cain Cam with it in New York state Cop Copyright right McClure Newspaper Syndicate Syndicat I |