Show New York Whirligig POLITICS 1 FINANCE By JAMES McMULLIN NEW YORK Informed YORK Informed New Yort Yorkers rs say that the tho recent White WhiteHouse House luncheon to members of Secretary Ropers Roper's business planning plan planning ning and advisory council was a great success from F. F D. D Its R s 's viewpoint It was the first time Ume that many of the councillors councillor had basked in the sunshine of the presidential smile and evidently it registered beautifully Its It's re reliably reliably re- re reported that the guests guesta departed with a n. much friendlier cr feeling for their host than when they arrived The Tha stage management was ex ex- ex- ex Secretary of State Cordell Cor- Cor dell deli Hull HuU spoke at some length about his reciprocal trade agreements agreements agree agree- ments monts and made a fine Impre slon aba He traced the history of tariffs and their tendency to mount and told why he be felt his technique of negotiation was was' con con- He sold his listeners 1 t thoroughly Later F F. D. D R. R assured the business business bustness busi bust ness men present that He lie is just justas as keen to balance the federal budget as they are to have it bal bal- He Ho picked out individual listeners and asked for specific suggestions for tor economies barring barring barring bar bar- ring relief relie As Aa those questioned were not familiar with budgetary details there were no ready re re- re plies pIles This created the useful im impression impression im- im that perhaps after all the president knew more moro about the subject than his critics which critics which some om observers observer suspect was the main idea The recent convention of ot the National Education association at St St. Louis showed a marked growth of militancy among teachers teach teach- ers era as compared with last years year's gathering at Atlantic City Criticism cism of Hearst and of teachers' teachers oath laws were far more outspoken outspoken out out- spoken than in the past t Earlier timidity about taking a position on such uch touchy subjects subject has ha been transmitted into a general determination determination deter deter- to fight for academic freedom and more liberal approprIations appropriations for education For instance Willard Gibbons secretary of the National Education Education Education tion association strongly indorsed a telegram from George Davis secretary of ot the American Federation Federation Federation Feder Feder- of ot Teachers to Governor Landon asking whether he favors favor balancing the national budget at atthe atthe the expense of ot education and also whether he is proud of Hearst's approval The Tho N N. E. E A. A would not have allowed one of ot its officials to make so bold a move a year ago go This Thill telegram was the first of ot ofa ofa ota a series of efforts by teachers' teachers organizations to compel all aU Important important important im Im- im- im presidential candidates including F. F D D. R. R to go on record publicly as to federal support of education and educational free free- dom Keep au an eye on the American Federation of of Teachers This This' This group group affiliated with the federation federa federi- tion of labor is growing by leaps and bounds Its Ita membership has re reached about Some 2000 have been add added d. d in New York City alone in the past t few months It will be active in the business busIness' of ot smoking out candidates candidate on their policies toward education and will ill report its findings to the federation of labor Thereby it may achieve a political importance importance importance tance far beyond its size It frankly hopes and expects to exert exert ex ex- ert considerable influence on the votes otes of all organized labor An angle worth noting in this connection I is that teachers teachers' federation federation fed fed- cration is decidedly not pro pro pro- Roosevelt Its members feel that the president has only a cu cursory sory interest in the vital problems problem of ot youth and deride the national na youth administration tiOn n as feeble political window This view is largely shared by by bythe the National Education association which has members and the Progressive Education asso aSBO elation clation All AUthree three of f these groups will campaign to enlist the wide support of parents parent for their ob ob- ob The security exchange commissions commission's commis commis- sion's slon's indorsement of ot continued trading in unlisted s securities on registered exchanges is a a lifesaver lifesaver life life- saver Bavar to the Nc New Nevi York curb and oth others rl of the smaller markets marketa But the tho big fellows the fellows the NewY New NewYork NewYork Y York rk stock exchange and the Chicago Chicago Chi Chi- cago stock arent aren't exchange aren't arent at all happy about it The two latter long ago set act up their own listing standards and nd barred the tho door to tho the securities of ot any company which ref refused to comply with them by filing requisite requisite site Information about its financial financial finan finan- cial condition The new new law in bi theory strengthened their position position position tion by making it necessary for all corporations with securities traded on any registered exchange to list full details about themselves them them- selves Now the commission has virtually virtually vir vir- nullified this provision A company that doesn't care are to tell all can still have an organized market for its stock on one of ot the smaller exchanges So the big exchanges wont won't get the additional addition addition- al listings they had expected as asan asan asan an offset to restrictions on on speculation speculation lation and are arc privately quite annoy annoyed annoyed an an- noy noyed d about it There are even oven resentful murmurs that the big board and the Chicago exchange should reestablish unlisted departments de de of ot their own own They probably wont won't do anything ab about u uIt it but a note of disaffection is creeping into the hitherto cordial ordial relations between these exchanges and the Sto Stock k market insiders expect that the tho next few weeks will be rather quiet The so called high grade buying is petering out Many of Wall streets street's shrewdest traders figure that prices in general general gen gen- eral oral are are re now about as high as they can an justifiably go in relation to current corporate ear earnings ings and nd business prospects for the near future Inflation talk has tad faded d to a whisper This doesn't alter the conviction tion ion of keen an analysts l that the term long trend is s bound to be up Many factors Including factors including the proposal proposal proposal pro pro- tp tax corporate surpluses- surpluses are operating to increase demand for stocks stock as ns against supply But for the moment theres there's no stimulus stimulus stimulus lus in sight to stir ii up p speculative excitement A i I Of course revival of the Fraz Frazier e Lemke bill agitation agitatIon- agitation or or r f any rany nyi other development With inflationary inflationary implications Implications could could upset these careful calculations in the twinkling of ot an eye Recent Now Naw York visitors to Washington are retailing this yarn as one of ot F. F D. D Rs R.'s favorites The presidents president's latest grandchild grand grand- child son child son Jimmys Jimmy's daughter daughter- was one day old on the day the supreme court handed down its T Y A decision The story runs that Mr Roosevelt jokingly suggested suggested suggested sug sug- to Dr Harvey Gushing Cushing the other grandfather that grandfather that the baby should be named Tennessee Tennes see jee Dr Cushing Gushing riposted that in that case Authority would bo be a good middle name To which F. F D D. R. R is said to have replied Oh she ahe wont won't need that Being a girl she will wIIl have authority anyway Copyright McClure Newspaper r Syndicate |