Show THE DAILY DADY NEW NEV YORK Fin Financial a n cia I W Whirligig h i r I i gl 9 Written for tor The Telegram by JAMES IN NEW YORK YORK Announcement Announcement that Secretary Ropers Roper's business busnes planning and advisory council will sit in at nt the drafting draWn of ad administration administration ad ad- ministration bills which affect business confirms our prediction that this group would be the enduring enduring enduring en en- during cooperative link between government and Industry I Its se selection lIe lIe- e lection carries an implied rebuke to the tho United States chamber of ot commerce and the National Association Association Asso Asso- clation of Manufacturers for tor their lopsided definition of oC tion Uon The council has been far more sympathetic to new v deal alms aims and problems than any other business organization It teams up well with Roper and has shown a high degree of ot social consciousness Now it gets gel Its reward by havIng having hayIng hav hay ing its advice solicited in shaping the administration program What's more its views will get respectful attention This doesn't mean It will domInate dominate dom dom- mate legislation But it will provide provide pro pro- vide the new deal engine with a IL flywheel of ot enlightened con con- Impartial observers agree th the results result should be beneficial beneficial bene bene- all nU around a a a Ours British neighbors have the railroad problem tamed and some ome New Yorkers suggest we would do well to take a a. leaf leaC from their book bool Shortly after the war there were railroads In the United Kingdom King King- dom dom most most of ot them rapidly going broke The situation p paralleled our current difficulties and it looked as M if it government ownership ownership ownership owner owner- ship were the onI only answer But the British government didn't want to take them over and pushed through an tive Sir Josiah Stamp en engineered a plan whereby the small fry try were merged into four major Where disputes about fi financial financial fi- fi details couldn't be settled amicably the government stepped in and forcibly imposed its own solution After the mergers were completed completed com corn the roads were granted a arate arate arate rate rise and given full control over all bus lines JInes Severe restrIctions restrictions restrictions have recently been placed on truck competition As a a. re result result re- re sult suit all aU four of ot the British roads have earned money for tor their common common cornmon com corn mon stock right through the de do- a as You might ask why we dont don't do dothe dothe dothe the same thing here instead of feeling around with complicated remedies Theres There's an excellent reason The gains would have to tobe tobe tobe be made It at the expense of ot labor The British ruthlessly threw thousands thousands thousands thou thou- sands out of ot work work work-an an example F. F D. D R. R obvious obviously cannot Imitate Coordinator Eastman's Eastman efforts to untangle our railroad snarl have consistently stymied on this question of ot eliminating jobs In Insiders Insiders Insiders In- In siders say that's the reason hes he's accomplished so little toward re relieving relieving relieving re- re lieving the beleaguered roads a. a The Tho name of ot E. E Burd Grubb Grubb- president of the New York curb exchange has exchange has cropped up frequently frequently frequently fre fre- fre- fre In the New York newspapers newspapers newspapers news news- papers of ot late Few curb officials in the p past t have rated so much publicity And now hes he's about to become a member of the stock exchange and a partner in the theold theold theold old firm of Coggeshall Hicks Those who should know say that thata a skilful campaign is on to build him up as a rival to Richard Whitney The Whitney anti-Whitney faction in the stock exchange has at last discovered discovered discovered dis dis- covered that you cant can't beat a horse with no horse Past Pat rebellions rebellions rebellions rebel rebel- lions have petered out for lor that reason Now the stunt Is 11 to promote promote promote pro pro- mote Grubb without making Baking It Whit Whit- look like open warfare on ney In many respects respect Grubb Crubb I Is an excellent candidate He made a good record on the curb He comes fresh tresh to the stock exchange without without without with with- out the tho handicap of ot association with any Internal clique which might tend to narrow his support His promoters remain obscurely In the tho background and are trying to have him sell himself as a symbol symbol symbol sym sym- bol of ot the new deal desired by many exchange members If It he doesn't register well he can always always al always al- al ways be dropped before beCore its it's too late a Directors of ot regional l federal rc- rc serve banks are likely to resign In carload lots when the reserve boards board's ruling about a n. n maximum year six term for tor directors goes goe through Owen Young will be the most distinguished c casualty here here- about The board will have more to say about the new directors than has been I Its custom Most of ot t those o a who quit will do doso doso I so 80 without regret A banker comments comments com corn ments meats be glad to get out front from under these new deal heresies What good is a R. regional director anyhow when the whole thing is being run from Washing Washington ton 1 a a a A bill was recently Introduced in the Massachusetts le legislature to require all Instalment sellers sellers' to tell the detailed truth and nothIng nothing noth noth- ing lag but the truth about their In Interest Interest Interest In- In terest charges Plans have been drawn to have ave similar bills Introduced introduced intro Intro- In every state The consumers consumers' consumers consumers' con con- sumers' sumers councils of the national emergency council and other consumer consumer con con- sumer organizations arc are behind the move Dr William Trufant Foster Fosler former president of Reed college e Oregon and now head of ot the foundation has been the activating force Corce Copyright McClure Newspaper Syndicate |