| Show New k York Whirligig The Tho T heN Mows 0 w s Be Behind h in d f the fhe heN News e vI S POLITICS FINANCE By JAMES McMULLIN I NEW EW YORK YORK Most Most of the leadIng leading lead- lead Ing lag utility companies aro are arc now now sold on tho the idea that it would be smart to acc accept pt amended feder federal l regulation of holding companies e instead of fighting for foz complete abolition of federal jurisdiction But therea there quito quite a a divergence of opinion within the industry as asto would be wiser to to whether it press presa for amended legislation now or wait until next year year when when its it's hoped the Republicans ans will be beback back in the saddle caddie Some power poy chiefs contend that the chance chanco of dealing with a friendlier administration administration adminis adminis- more more than thim outweighs the intermediate uncertainty Others insist that the only way the Industry can get perm permanent nent peace is by coming to terms with the new dealers They argue that any settlement t of th the e question un un under un- un der dee G. G O. O P. P auspices would be open renewed to attacks from the left Th They y also point out that theres there's no guarantee the Republicans cans will win vIn in November This 1 matter of timing is getting a n lotof lot lotof lotof of attention in inner utility cir ci- ci des cles Heres Here's an n angle worth noting noling on possible future relations between the p power companies and arid the Re Republican Republican Republican publican party if Roosevelt is beaten No o O. O O. O P. P president nt is likely to abandonment of federal regulation For or one ono thing utility leaders leader themselves realize reaUze that public opinion has been too thoroughly aroused bythe by bythe bythe the record of past abuses to tol tol- tol- tol tolerate crate erate such a move For another the leading Republican n candidates favor somo some measure of federal control over holding comp companies Arthur has said so soon on on the senate floor Bill Borah voted for tor th the tho present law Frank Prank Knox for tor all his bittern bitterness ells against the new new deal has deal has taken editorial cracks at ce certain tain utility practices If in his newspaper Alt Alf Landon has as taken no public position position tion but insiders figure the pressure pressure pressure pres pre's pres pres- sure of p popular pular demand would as assure assure as as- sure his riding the same horse Even Herbert Hoover once came out for federal supervision of interstate power transmission So the G. G O O. P. P offers no sure haven ha ha- ven ven vento to the off hands boys New York political sharps predict predict pre pro dict an unusual union of north and south at the Democratic convention con con- con con- Massachusetts Massachusetts and Georgia Georia Geor- Geor gla gia ia working together to defeat Roosevelt Gene Ta Talmadge adge hasn't been boen tossing toning bouquets bouquets' at Joe Ely just for exercise Anti new deal chiefs regard Ely Elyas as ns their real convention mainstay mainstay mainstay main main- stay He hasn't become prominent nent nentin In the tho cause yet yet buthe but he will Talmadge has his uses t too but too but butla I la IM privately rated more reckless than dependable Between th them m mth th they y can raise plenty of CaIn at Philadelphia even though the delegates they command will be bo bea a small minority Meanwhile earnest earnest earnest earn earn- est efforts will be made mad to fill in part of the gap between Georgia and Massachusetts Sources in a position to knew say that Al Smith is likely to I. I turn up at the convention as a a. Massachusetts delegate if It by chance h he should bo be frozen out in New York They add that Als Al's speech to tho the Liberty league was only the tho first of at a a. series serles of shocks timed to blast the tho Democratic tlc la label label la- la bel off oft the tho new deal dealers rs rs The Hauptmann caso case Is far from over y yet t. t Informed New learn that Nell Burkinshaw Burkin- Burkin shaw shaw Washington attorney recently re recently ye- ye retained on Hauptmann's behalf still behalf still hopes to convince the supreme court that the Germans German's trial was improper and that he is entitled to a rehearing Burkinshaw Burkinshaw Burkin- Burkin shaw is not only an able lawyer He Hem Hes Is thoroughly familiar with supreme supreme supreme su su- su- su preme court procedure and is on friendly personal terms with Justice Justice Jus Jus- tice tics Owen J J. Roberts whom Roberts whom he served as ns assistant in tho the Teapot Do Dome e prosecution who urge a a. retrial do not seriously contend that there is any MY new evidence e Their point is rather that Hauptmann m didn't get tho fair hearing guaranteed him by bylaw byla law in the circus s atmosphere of S Some me New York lawyers who believe him guilty agree agree to this They would rather see him tried again in Iii a more dignified dignified dig dig- and impartial manner than executed in an an aura of ot doubt paralleling the Sa Vanzetta Sacco case This has haa an important bearing on the political future of Governor or Harold Hoffman of New Jersey If It it turns out that his his' courage created the opportunity for bra fora a new trial whether Hauptmann is found guilty or Inn innocent Innocent Innocent-ho he will wUl end up a a. hero instead of a joke So dont don't count him out ot of tho the national political al arena t too o soon oon There Thera has been a 0 remarkable spurt in world shipbuilding activity activity activity ac ac- ac- ac recently Over a Ii million and anda a half tons of ships were were u under der construction as of the first of the year year mostly mostly In merchant vessels Great Grent Britain was out in front by miles with tons tOM Next camo canie Germany with Germany with about tons Japan was was third with This last figure is due duo duoto to increase sharply during 1 1936 36 Uncle S Sam ni m is way back in the procession at present but there are signs that American activity is due duo to be stimulated shortly New York is puzzled by the move of Congressman of ot Nevada to liberalize the securities securities ties act in such a way as to permit per mit the issuance and sale of speculative l mining securities to tho the public Theres There's n nothing to prevent prevent pre pre prevent vent their issuance and sale now If the mining companies comply with registration requirements by filing the prescribed information about themselves The commission commis commis- Mon sion certainly doesn't discourage urage such applications Some of the boys are mean enough to wonder whether h there are companies in Nevada which crave to be protected from the brutal necessity of telling all Copyright McClure r Newspaper Syndicate |
