Show New NeWA York Yo Whirligig t I J j he h D HOWS Be hf n d the fhe Now POLITICS FINAN FINANCE E By JAMES McMULLIN NEW NW YORK YORK Informed Informed ed- ed financial finan Inan- cial dat sources arc ara cheered by the thet t following evidence that the Townsend movement is passing its peak M. M f Burt Thurman is an old guard u rd Republican in Indiana IndIana- a close cIcIo friend of ex Senator ex-Senator Jim Watson He aspires to be governor governor gover gover- nor and d decided it would help him to espouse the Townsend cau cause e The result has been practically to kill whatever chance he h had Md d for tor forthe forthe th the G G. O. O P. P nomination nomina Next to California and Kansas Kanu New v York sharps rate Indiana the most most- fertile ferUle hotbed for political I F ical novelties of at an any state in in the Union That adds adds' zest to their pleasure in the Thurman rebuff A gradual but significant change in the character of ot holding holding hold hold- ing In companies Industrial companies Industrial as as' well as 53 utility Is utility Is well under way Some are working on simplification tion of at structure with a at view to becoming integrated operating companies themselves r Othera- like Uke United corporation and American Amer Amer- AmerIcan JC ican 1 SuperpOWer are Superpower arc arc- divesting themselves of at management functionS function'S functions tion'S and becoming investment trusts Insiders predict that that- the tho trend will spread both ways The first alternative is difficult for utility groups group with properties in several states So many states have laws pen penalizing g foreign corporations that locally incorporated incorporated incorporated rated subsidiaries are practically a a 8 necessity The log logical cal answer to this is federal incorporation and informed business loaders leaders see it inevitably on on the way even though they will fight firM tho the OMa DMa honey bill for that purpose e sponsored spon spon- ored I by bythe the Federation of ot- Labor The second alternative I is really 8 a surrender to the new new- deal concept con con- that too big business is bad An outstanding utility chief puts It The writing is b on the wall even if It the tho holding company act net actIs actis netis is ruled out by the supreme court The The- tide of public opinion i is running running run run- ning against oversize corporations and will continue continuo to do so regardless regard regard- less leas of t the e new deals deal's fate Industrial Industrial Industrial Indus Indus- trial super combines s are as a- ai aou ou out of ot date as hoop skirts tS If It we are smart we will reshape our corporate corporate corporate cor cor- patterns accordingly Additional factors continue contin e to develop to to po postpone tp ne action on the constitutional amendment issue well into the future One Ono is II the absence of wholehearted public response to the he idea A checkup of sentiment by experienced scouts couts' indicates that many voters feel teel an amendment Is desirable desirable- and perhaps necessary necessary but sa but prefer prefer prefer pre pre- pre pre- fer to take time to mull it over from all angles rather than rush for it headlong A second obstacle is u the e difficulty difficulty difficulty culty of securing rat ratification n. n The Tb child labor amendment which emb embodies em em em- b bodies a a. similar r principle of at ate e ex extending extending ex- ex tending te federal powers has haa been kicking around for tor nearly 12 years and andis Is 11 still shy 1 19 states out of the required 36 State legislatures are bound to resist resist- encroachment on their p powers wen Furthermore a number of Democratic gov governors who have backed F. F D. D R. R with state programs now have too many troubles of ot their own to take on added political burdens Keen New York aLo o make the point that Mr Roosevelt Roose Rooie- velt is stronger practically with his program knocked out by su supreme su- su preme court edict than he would be If It he offered a highly controversial contro contro- remedy to revive i it ft New NewYork York expects plenty of at haggling haggling- in the senate sento over F. F FD DRs D. D Rs R.'s nominations Senators have hav been known to invent or exaggerate ate ato objections to presidential BeI se selections so Be- I so BO as to be bought off oft by being awarded nominations they want Lamar Hardy named as district attorney in New York ran un Into snags on account of ot whisky opposition In these squabbles over con confirmation confirmation con tho the president usually wins because the majority in the senate arc are rarely Interested in any particular case cuc The old rule that made one oni senators senator's objections nl binding on others no longer pre valls vails Senatorial courtesy is i. losing loi- loi los ling lug ing ground in this respect as in other directions Financial circles that make ft point close t tabs on the tho treasury estimate that tho the federal fed cd- cd eral deficit for the fiscal year of ot 1937 will be around two and one- one halt half billion dollars instead of ot the theone theone theone one billion foreshadowed in the presidents president's budget message On the same ba basis hl the total totalled totalled- fed federal eral debt fl figures to reach about four thirty billion at t the end of ot that period instead of ot a little over 31 Of or course the profit fro from in gold devaluation could be used ina in ina a pinch to reduce it if it an International International international inter Inter- national stabilization agreement eliminates the need for the treasury's treas trea- ury's stabilization stabilisation fund lund Tho The major air lines will have R a anew L new type of at plane pIano In service in about six months It has already reached the testing st stage ge It will willbe be e considerably larger than those thon now in use use seating seating 2 24 passengers passengers gers or sleeping leeping 16 in berths The model closely approximates In size aize and general construction the new Douglas bombers bombers' ordered by bythe bythe the army But this plane while it will be ballyhooed as the last word in aviation when introduced is only an nn intermediate inte step tow toward rd the tho I motor four-motor 48 passenger giants definitely planned for for- delivery to the air lines beginning about th the end of ot 1937 Work Vork has already begun on these Heres Here's a a. tip for young youn women who want to be air line Une stewardesses steward steward- esses Be sure you hall hail from a city which is a regular port of ct call l oi on a transport r route ute Then your appointment will get pl plenty nty of of- publicity in the local press prell where it it will vill do the line some some g good oil If It you on c-on comer conie t from a a townS town own oft off the beaten tr track ck yo your r chances cha cea ar are mighty thin You have t too o om m many miny ny comp competitors who meet th this r requirement Copyright McClure re Newspaper News Newspaper w. w paper Syndicate te |