Show e THE DAILY DAUX NEW YORK F ll Fina-ll Financial J. J Whirligig ir Written t for The Tho Telegram By JAMES IES McMULLIN l V NE YORK YORK General General Johnson and his N NR NR NR R A lieutenants will soon have a new and tricky puzzle for solution It involves the re relations relations re re- lations between organized labor and small in in- in New York learns that growing resentment resentment resent resent- ment against union encroachments is due for foran foran foran an explosive airing at forthcoming complaint hearings Labors Labor's scale broad-scale recruiting campaign has only recently reached the little fellows Those in smaller cities are especially hot because they fear they will be left at the mercy of outside labor leaders So far as they are concerned that famous section 7 is an acute pain Heres Here's a sample reaction A textile firm in ina a New Jersey town has a hundred or so resident resident resi resi- dent lent A. A F. F of L. L organizers are busy in the plant The firm swears that if its workers work work- J ers vote to join the federation it will move bag baggage and machinery to a now idle factory in a large city If they strike on us were we're sunk In a we at least have a chance of hiring substitutes if they pull a walkout Nation Nation- Wide Nation Headache 33 This This' situation may develop irit into N R R. As A's severest headache to date Cons Conservative scouts report similar protests from California to Massachusetts The south is esp especially affect affect- t. t ed cd Johnsons Johnson's dilemma lies in the fact that complain complainants are not immense immens corp corporations rations to tobe tobe tobe be sm smacked down to o public applause Small business men irien men comprise an important part of the public themselves themselves' Meanwhile large concerns with with labor problems problems problems lems of their own grin at the prospect of a showdown that may help and cant can't hurt them Volman Resignation Coming New York sources who shOuld kI know ow state Leo labor labor leader and admittedly one of the ablest members of or the national labor board board wili board will resign resign from y within a few weeks is rated an able realist and a sincere sincere sin sin- cere champion of labor He is privately re reported reported reported re- re ported as believing that the AF of L. L is hurting its own cause by sending out organizers of the ward politician type and trying to do a five five- year job ob in as many months He Heis is definitely out of sympathy with forcing tactics Insiders say his departure would weaken the labor board to the the point of practical futility How Mortgage 1 Plan Will Work Holders of defaulted guara guaranteed teed mortgage certificates shouldn't get too pepped up about the theR R F C's Cs proffer for aid yia via loans The plan is conditioned on formation of a corporation with private capital which would borrow from the R K F FC C and lend in turn to individual certificate owners owners The chances of forming such a a corporation corporation- are re so slim as to be almost invisible The New York banks dont don't care to risk the ill will that might accrue later from froth probable ble mortgage fore foreclosures At least three of them have flatly turned down a bid to parti participate in t the e project which project which h-which which virtually nullifies it from the banking angle State authorities privately approached the Rockefeller arid and Carnegie foundations to see whether they were interested d in assisting certificate certificate er- er holders holders' by financing such a c corporation as Jesse Jones had in mind They rent To Forestall Forestal Speculative vc Profits The inside dope has dope has it that Secreta Secretary Mor Mor- inquiry into the silver holdings of in individuals individuals individuals in- in and institutions was was preparatory to a government bid for all privately own owned d silver in m the country at a uniform a-uniform price Such a step would be ne essary to forestall immense speculative profits from devaluation to Local al bankers learn that the Chinese government government gov gOY is suspicious of American and possibly possibly pos pos possibly sibly British plans to do things to silver Higher High er s silver prices in in the he Orient would bring de deflation de- de there Talk of an embargo on silver exports exports ex ex- ex ports from Shanghai is exaggerated but some sonic form or of export tax to discourage foreign buying is on the cards Holding Company Probe The unofficial assault on holding companies is b broadening its front It Its It's s the real reason why the interstate commerce e c commission has decided to press its investigation of ds d's interest in nB Boston son Mame Maine and New Hav Haven zi It Its findings find find- ings will willbe be part of the he c campaign to educate th the public against holding companies compani s. s Businesslike Government Even Even New Yorkers opposed pp se l to the new deal ad admit t th that t t the e Roosevelt administration is more efficient nt in m its cont contacts with the outside world th than n is s customary with bureaucracies CommunicatIons Communications Communications to the White House and to most de departments departments de de- are h handled with ith unusual spee speed and courtesy There There's s a a minimum m of lost motion in b being mg directed to the proper official to receive your particular request or oF or complaint And a maximum of speed in getting to a decision Few corporations are as areas businesslike in get ga- tint 6 ting to the e next thing t. t liU 1934 Newspaper Ne |