Show MONEY MARKETS MARI ETS By James McMullin The Telegrams Telegram's Exclusive Observer Along Wall Street NEW NEWYORK New YORK New Yorkers are watching Indiana senatorial de developments developments developments de- de for indications of possible possible possible pos pos- sible new anti-new deal trends Senator Senator Sen Sea ator Frederick Van Nuys hopelessly hopelessly hopelessly hope hope- lessly in wrong with both the Roosevelt administration tion and the efficient McNutt McHale Democratic Democratic Democratic Demo Demo- cratic state machine has announced announced announced an an- that he may run for re reelection reelection reelection re- re election as an independent To the casual observer tins this looks like a a. futile gesture However much depends on what the Republicans Republicans Republicans Re Re- publicans do The veteran Jim Watson is trying hard to land the G. G O. O P P. nomination He wouldn't stand a ghost of a chance if Indiana had direct manes maries But candidates in that state are chosen by party conventions conventions conventions con con- at which anything is possible possible especially especially with a a a. wily old politico like Watson pulling hidden strings If It Watson is nomInated nominated nom nom- mated thousands of Republican voters would undoubtedly prefer Van Nuys who would also get most of the conservative Democratic Democratic Demo Demo- cratic vote In that event he might be able to make quite a race of it Van Nuys has nothing to lose He is headed for private law practice practice practice tice 1 if he isn't reelected It wont won't hurt him with prospective clients to go down fighting fighting and and it might if it he quit cold because he cant can't be Some influential anti inside and outside outside out out- side Indiana are urging him to torun torun run in n order to widen the Democratic Democratic Democratic Demo Demo- cratic split A month ago it looked as if it Happy Chandler w were re a cinch to lick Alben Barkley in the Kentucky Kentucky Ken Ken- tucky lucky Democratic senatorial primary primary primary mary and hand Roosevelt prestige a big black eye Today Chandlers Chandler's backers are privately not so sure as they were Happy still has an edge but its it's narrowing despite the skillful management of J. J Dan Talbot t Kentucky commissioner of fi fi- fi nance Barkley is cannily laying back aird cl letting his opponent do dothe dothe dothe the talking in the early stages The election doesn't come off until until until un un- un- un til August which gives the senator senator senator sen sen- ator plenty of time to get hot when it counts Also federal cash cashis is campaigning for him him and and how One hundred and forty thousand dollars was recently paid to tobacco growers in just one Kentucky county As for W WP WP WP P A its it's no trouble to give jobs to whole families faithful to Barkley Bark- Bark ley and Icy and often more than one job apiece Another angle i that Vice President President President Pres Pres- ident John N. N Garner and other conservative Democratic leaders might choose to save the presidents president's presidents president's presidents president's dents dent's face in order to preserve party harmony and prestige They might decide to do all they can canto canto to reelect reeled Barkley on that basis If It so James A. A Farley will probably probably probably ably play along with them despite despite despite de de- de- de spite sub rosa indications that he has been quietly backing Chandler Chandler Chandler Chan Chan- up to now Farley Fancy wants no split between himself himsel and Garner Happy could find the min last ute cards stacked against him Insiders report that there was only one argument of consequence between Chrysler corporation of officials officials of- of and representatives of the United Automobile Workers prior to the recent renewal of their con con- tract The union wanted the management management management man man- to agree as and when business improved sufficiently to warrant increased production to establish a hour 32 work week and hire more men The company held out for stepping up the hours of those now employed to 40 before taking on additional workers Those who are still on the job would much prefer the latter arrangement arrangement arrangement ar ar- ar- ar which would mean fatter pay envelopes But their views carry no weight with union officers who are anxious to get more people on the company's payroll in order to rebuild their paying dues-paying membership Finally it was agreed to let this question go over until it has some realistic significance The current outlook for the motor industry In Indicates that it is likely to rema academic for some months at least Copyright 1938 for The he Telegram |