Show l TilE THE DAILY NEW YORK Financial F i h a n cia I Whirligig W h i r I i gig Written for The Telegram by y JAMES McMULLIN NEW V YORK YORK Talk Talk of or of Jesse Jones for pr president as a 11 conservative conser conner Democrat is booming in financial circles Growth of this sentiment bears out the predictions predictions predictions made here on September 15 and October 17 1934 A number of Vall Wall now speak of oC his candidacy as a sure thing Insiders rate it significant that Senator ex-Senator Hubert D. D Stephenson of Mississippi and J J. J Crawford ate solicitor general for forth forthe forthe th the department of ot justice justice have have recently been added to the R F C setup Both are arc rc influential southern south em ern Democrats The fact tact that Stephenson was beaten b by Bilbo Bilboiii in iii the last election hasn't dimmed his prestige with the wing right-wing element clement of his party Political sharps prophesy that Jones Joncs by building a stron strong nucleus of Democratic Democratic Democratic Dem Dem- supporters in an organization organ organ- ration of ot Republican origin is working himself into a position to tomake tomake make malte a very respectable showing at the polls Comment runs that F. F D. D R. R Is being maneuvered into a squeeze between the Hue Huey Long Lons hammerand hammerand hammer hammerand and the Jones anvil and may well be flattened unless he can deliver new and convincing goods New NewYork NewYork NewYork York Republicans figure t they ey have a swell chance if they can put together a with any kind of oC voter appeal Landon Q of cit Kansas and Hoffman of New Jersey Jer Jer- sey are sey-are are mentioned as an a possible team 9 e a 4 The clash between Undersecretary tary of oC the Treasury T. T Jefferson Coolidge and Federal Reserve Governor Marriner Eccles about the makeup of oC the important open market committee confirms our recent observation that Mr Eccles Eccles Ec Ec- Ec- Ec cles des Is no longer sitting pretty prett with the administration New Yorkers ers are convinced that Senator Senator Senator Sena Sena- tor Glass can have the governors governor's scalp any time he really wants it Bankers are pleased because the disagreement materially reduces the chances for bank reform legIslation legIslation legislation leg leg- at this session Some of ot Coolidge's remarks were a sweet surprise to the fi financIal financial financial fi- fi world They never expected expect expect- ed to hear anyone connected with the new deal concede that after acter all all the money involved ed in open market operations does belong to the reserve banks s and they really should say on how its it's to be invested Bankers haven't recovered their breath from that shock yet What impresses them most is the knowledge that Coolidge would never nC have gone so far far far- whatever his personal sentiments without approval from above 5 4 4 4 0 A number of utility men are privately fed ted up with playing one for all and all for one They recognize recognize rec rec- that flagrant abuses exist in the industry and should be wiped out out but but resent the idea iden that soundly managed companies should be punished for the sins of others They admit that most people have been led to believe that all utilities are vicious having vicious having had no opportunity to learn otherwise The smoke from the dirt obscures obscures obscures ob ob- ob- ob the fact that some are clean clenn Blame for this situation Is ascribed to the stand offish altitude at attitude attitude at- at toward the public fostered by banking influence Comment runs that bankers are arc about as skillful at public relations as a n. layman laman would be at human sur stir gery gary Executives of oC companies which have avoided abuses use language about other groups which would make a federal trade commission commIssion- er blush This represents a definite definite deli deli- nite change of oC attitude altitude A year ago they were all nIl for tor for minding their own business and let the theother theother theother other fellow tend to his The trouble is they dont don't know what to do about it They figure that calling names in public a athis at this late date would only make matters worse The They realize their defense against the holding company company com corn pany bill benefits the shady operators operators operators op op- op- op as much as themselves themselves- but they dont don't dare draw any in invidious In- In distinctions Their main hope is that congress will somehow somehow somehow some some- how catch on before its it's too late 4 e eA o A leading New York legal firm Is quietly sounding out Washington Washing Washing- ton for a n loan to Cuba from the import bank or some other federal agency The sales talk tall Is ingenious American interests in Cuba will willbe willbe willbe be ruined i if is thrown out Therefore he must be helped And the plan for which he needs mOl ey Is designed to break the back of ot the revolutionary move move- rn ment ant a Informed sources figure the Chase banks bank's sudden demand for repayment of or its loan to the Machado regime ties tics in with the above A commission appointed by bv Mendieta officially repudiated this debt as Illegally ally contracted Winthrop Aldrich must know he hasn't a Hottentots chance of ot making the claim stick It would be political suicide for Mendieta to backtrack on his commissions commission's ruling Hes He's probably fishing for fora forn a n settlement of ten cents on the dollar which dollar which the Chase would be get get in in case Uncle Sam comes through with a loan Copyright McClure Newspaper NewspaperS S Syndicate nd |