Show W WALL STREET cru VIEWS W sl By J James ms McMullin Financial Observer e O 0 NEW YORK YORK Last Last weeks week's supreme supreme su BU- su- su preme court ruling in the Consoli Consoli- Consolidated Consolidated dated Edison case was featured in published reports as the first major judicial setback for the national labor relations board The court refused to uphold the boards board's order invalidating the contract contract contract con con- tract between Consolidated EdIson Edison Edison Edi Edi- EdI- EdI son and the International Brotherhood Brotherhood Brotherhood Broth Broth- of Electrical Workers an anA anA anA A F L union on the basis that the company had illegally coerced its into joining this or or- or The opinion delivered by Chief Justice Hughes rebuked the board for jumping to conclusions conclusions conclusions con con- without adequate proof Insiders say there is no doubt that the Consolidated Edison management much preferred the I B E W to its C I O a rival and found ways of making its sentiments sentiments senti senti- ments meats known to its Whether that constituted coercion coercion coercion coer cion within the meaning of the law is another question The board however weakened its case fatally by failing falling to give all parties parties parties par par- ties concerned a hearing and by by- slipshod preparation As an example example example ex ex- ex- ex ample of the latter it charged fhe he I B E W with claiming to represent all Consolidated Edison in collective bargaining bargaIning bargain bargain- ing ng whereas the union contract specifically states that it represents represents represents only its own members The result is a notable victory for the American Federation of Labor in a field where its jurisdictional jurisdictional juris- juris jurisdictional rivalry with the C I O a Ois ais is torrid One of the most significant points in the supreme courts court's de decision decision decision de- de was submerged in the headlines headlines head head- headlines lines about the labor boards board's defeat As this column noted when the case first reached the court a avital avital avital vital question of federal authority was involved Consolidated Edison Edison Edis Edi Edi- s son n contended that it was not not subject to the boards board's jurisdiction jurisdiction tion because it was strictly an intrastate concern Its properties and operations are all in New York The board argued that the company supplies power to interstate interstate interstate inter inter- state carriers railroads airports etc that interruption of its service service service ser ser- ser ser- vice by labor trouble would seriously seriously seriously seri seri- affect interstate traffic and that therefore it was subject to the congressional power to regulate regulate regulate regu regu- late interstate commerce The majority of the supreme court conservatives Butler and dissenting accepted the boards board's argument as legally valid This is by far the broadest interpretation of interstate commerce commerce commerce com com- merce ever sanctioned by the supreme supreme supreme su su- su- su preme court and sets a tremendously tremendously tremendously important precedent for forthe forthe forthe the future The implication is that all sizable utility companies even those within a single state are amenable to federal regula regula- tion New Yorkers with topnotch London contacts say that reports about an impending reconciliation between the duke and duchess of Windsor and the royal family are on the level Only a few troublesome remain to be ironed out The duke still insists that his wife be received as a royal highness which is bitter medicine for his royal relatives to take However recent overtures have paved the way for an adequate adequate adequate ade ade- quate understanding unde Exceptionally informed s add that Prime Minister Chan Chas Chanberlain Chanberlain is not only in favor fj ft reconciliation but has private done all he could to promote While he commands a majority his is is- not as secure as it His graciousness to alienated Catholics and Jews w whelp help to stir up opposition to foreign policies He can use all the he can get get and and the duk Y Windsor still has many friends friends' in England who woul presumably appreciate a gov rt ment meat that made possible hi his r turn from exile Realistic New York observe observe-l were privately not impressed Edsel Fords Ford's statement to the se ate profit sharing committee the thea a reduction in taxes would b be beltri t tn greatest possible incentive t profit sharing and plant sion zion dBl They point out that neither Ml MlFord Ford nor anyone else has off re i reany any practical plan whereby ov spending can be in order to permit tax reduction They add that business men w wi woul complain as vigorously as es it average citizen at the tempora depression which would necel nece necessarily follow any serious effort cut down on federal outlays Comment runs that even t shrewdest business men are c pable of making statements meaningless as the utterances politicians which they criticise Financial insiders interpret th German Franco-German accord as an anTes e empty gesture offer offered Hitler in an effort to F French r e n c h sentiment and strengthen position making it appear that he did gaii something worth while frOm Munich agreement jf This is in line with our rece recen report that Hitler is teli more concerned about hostile foreign reactions than he car tL tf admit and that he would soon something to try to persuade t world that he is really a go go- go fellow at heart Comment is heard that downright inconsiderate of pal Mussolini to put him hint on spot by yelling for French t ter r J tory at the precise moment wh wb the gesture was consummated 3 a aThe The Hon Robert Brennan n Irish minister to the Unit States was an active in the Irish war against Ga Grif Britain He was a close perso persa friend of the late Michael Coil Colli outstanding leader in Irelan revolution I At a recent New York lunch lunchE in Mr Brennan's honor some asked the minister if he was with a certain well kno bridge in Ireland Surely Surely y replied I should be I once b bit bl blit it up Copyright 1938 1933 for The |