Show THE DAILY NEW NEV YORK Fin Financial a n cia I W Whirligig h i r I ig ig Written for The Telegram by JAMES M McMULLIN Here arc are a few members of or the younger business generation whose futures arc are worth watch watching Inc Some of ot them are likely to be spotlighted this ye year R. R K Mellon nephew Mellon nephew of ot Andrew who who has taken active command of the flung far Mellon Interests The informed sa he combines the hard- hard boiled practicality of ot his family's tradition with the virility of ot youth He may become an outstanding wing right leader Edward Jr son son of ot a former Morgan partner who partner who has been loaned to N NR R A b by U. U S. S Steel Hc's He's being quietly groomed as Big Bie Steels Steel's future chief Tom Girdler of ot Republic Steel Steel Steel- another aggressive right winger wInger- whose star is rising in lit the steel In Institute Institute In- In firmament J. J J J. J former Pelley-former former president of ot the New Haven railroad and now the alert and ambitious head of the association of ot American railroads lIe He refuses to be daunted by staggering stag staggering gering gerin railroad problems and if it the roads do succeed In saving themselves themselves themselves them them- selves he will rate a lot of ot credit George and Frederick Morrow whose adventures in building a achain achain chain store just begun e a. a General Electrics Electric's redemption of ot Its 6 per cent special stock will cost It cash That's a tribute tribute- to Its strong financial position tion and tion-and and also to its optimism Its It's a logical move to save unnecessary Expense The move likewise redeems the reputation of Wall Vall street oracles who who started rumoring that this would happen no le less s than seven years jears ago Vindication Is no less sweet for having been a trifle de de- de- de C Cop Copper r men are privately pulling pull ing hard for the government power grid transmission pl plan to togo too go 0 o through It would open up the biggest market for tor their product they have seen in years Experts regard it as by far their best st hope of ot changing red ink to black The attempted international copper agreement is fe feeble ble stuff by com corn parison CC Senator Wheeler is supplanting Huey Long as New Yorks York's pet bete noire His proposal to nationalize the railroads Isn't expected ted to P pass 1 But Wall street fears it w will be enough of ot a distraction to gum up plans for constructive legislation can think of ot no senator they'd less rather see as head of ot the Interstate commerce commit commit- tee C S C President F. F E E. Williamson of ot New York Central recently made madean an optimistic statement about his roads road's prospects Thereupon its stock promptly hit a new low for forthe forthe forthe the year Comment runs that thai his stockholders holders cla class s him as a prophet with those who ho said that prohibition prohibition tion was here to sta stay I C a aLeather Leather makers rs are arc up in arms at the growing rowin encroachments o of leather substitutes on their mar mar- The tanners' tanners council is prepared prepared prepared pre pre- pared for a publicity war So are th the makers of ot substitutes But nothing happens happens because because both sides are waiting waiting like like a couple coupe of ot wary polecats polecats for for the enemy to hit hiL first a The New York planning boards board's proposal for the he state to buy six million acres of ot sub marginal and other land in the next twenty years is Ls music In the ears of shrewd real estate traders The state wont won't pay an any fancy prices but the property involved can now be he had for a song ong and and it needn't be a good one A fair proportion of Cl f the land is in the hands of banks a. a as a result of ol fore lore closures They've be been n wondering what to do with It if and this suggestion suggestion suggestion tion Is a beacon on a foggy night The forest property to be taken over mostly belongs to ultra ultra-ex- elusive hunting clubs numbering lubs numbering I among their members such poverty- poverty stricken gentlemen as US John JohnD D D. Rockefeller Jr J. J P. P M Mor Morgan ran an Ar thur Curliss Curtiss James and others or ot Wall Vall Streets Street's Who's Who Whatever they get from the state tate will be so much velvet velvel Holding company officials dont don't know exactly what congress Is going to do to them but they fear the worst An observer remarks remark A uA lot of or them should be glad to be put out of ot their misery Some folks will vill call it murder but Jt t looks to tome tome tome me more like one o of those mercy slayings yo you read about aboul a C I. I New York Central had hoped to float another bond issue this spring to pay or off some more bank loans but the chances arent aren't 50 so hot hol The main selling point of ot last years year's flotation flotation the the privilege of ol conversion conversion conver conver- rIon r- r sion Ion at 40 A share share- share share-d look like much of ot a II bargain now a CC All the talk about merging the independent automobile companies companies com corn into a collective rival for General Motors Chrysler and Ford is still in the dream stage The spirit may be willing but the cash position Is weak Unless one of ot the few independents that have money can be lie interested the boys bos might as well be planning a trip to Mars C C Wall street is amused to note that Montagu Norman Norman governor governor o of the Bank of ot England gravely England gravely admits that monetary stabilization Is now discussable Comment runs that such a concession from the ml mighty Montagu Is equivalent to having Hiram Johnson lead a cheer for the league of or nations Copyright McClure Newspaper Syndi Syndicate a te |