Show i T TIlE THE E DAILY NEW V YORK F Fina Financial tt Whirligig r Written V for o The Telegram By y JAMES McMULLIN NEW V YORK YORK Anything Anything can happen in France at any time That's the word being passed by a leading New York banker just returned from Europe He reports that both the Croix de Feu the fascist organization backed by the powerful Comile des Forges the Forges the French steel trust and the radical groups have done a lot of of high pressure arming in recent weeks and are chafing chafing chafing ing for an excuse to jump at each others other's throats Whichever side gains the ascendancy will make an earnest effort to wipe out the opposition Most army officers are privately in sympathy with the fascists but theres there's no guarantee that the enlisted personnel would follow their lead New York organizations with French interests interests interests inter inter- ests are genuinely alarmed and are arc taking every precaution they can think of to protect themselves Economic conditions continue to to aggravate the French tension Unemployment is increasing increasing increasing ing more moxe rapidly than ever and business activity achy achy- ity ren reached reached- hed its low for the entire depression only l last st month The March figures ligure will proba probably bly be even even worse Another Honeymoon Ends End Inside reports indicate that New York City's fusion regime is in private a family as happy as a cake full of starving lions There is al already already already al- al ready a marked absence of cordiality between Mayor LaGuardia and his two chief officers officers- Comptroller Cunningham and Aldermanic President President President Pres Pres- ident Deutsch Tenement Commissioner Langdon Langdon Langdon Lang- Lang don Post also appears to be going his own way with his own following The friction arises chiefly from the mayors mayor's desire to do everything himself and his unwillingness to consult with his coll colleagues agues The latter latter lat lat- ter tel believe he has made many mistakes which might have been avoided by preliminary dis dis- dis- dis Teamwork is conspicuous by its ab ab- ab sence Moreover the well advertised LaGuardia LaGuar LaGuar- dia temper is beginning to make itself evident The fusion political machine is rapidly disintegrating disintegrating disintegrating dis dis- dis- dis integrating because the mayor refuses to give ive it nourishment Tammany is delighted They figure they've nothing to dp do but sit and wait for the plums to fall back in their lap Poli Police c Commissioner Target So far these hidden sparks have been kept out of the public eye They are most likely to burst into open flame in the police department Friends of Commissioner ORyan say he is getting getting get get- etting et- et ting very tired of bein being bawled out Unlike Cunningham and Deutsch who Deutsch-who who were elected elected- ORyan holds an appointive office and there is a suspicion in some quarters that he is is being made uncomfortable in order to induce his resi resignation nation ORyan has tried fried to enforce military discipline disc disc- pline in the police force and the knowing say it hasn't gone over so well There were signs that the police were frequently more friendly to the striking taxi drivers than their superiors liked ORyan has been sharply criticised in circles close dose to the city administration for trying trying try try- try try- ing a difficult experiment at a time when po police police police po- po lice morale should have been nursed to its highest highest high high- est st pitch I Strange Bedfellows I Curious alliances between Wall street tre f conservatives conservatives conservatives con- con and monetary radicals are springing up these days It may have seemed strange that thiat Senator Thomas of Oklahoma Oklahoma paper paper money Elmer as he is called here should here should have been the man manto manto manto to introduce an amendment to soften the securities securities securities ties tie's act It Thomas' Thomas New York backers backers back back- ers ers are arc as keen to draw a few teeth from the act as any old-fashioned old investment house They haven't thought it wise to play this up while they still cherished hope of administration tion help for their monetary theories Now that that's out the strategy is to show the conservatives conservatives con con- tives that Thomas isn't such a bad guy after all and perhaps pave the way to joint action on various lines Revision of the securities act predicted act predicted here some weeks ago ago is is now taken as c certain by informed New York Then theres there's Jim Rand and his committee for the nation enlisted alongside the stock ex exchanges exchanges ex- ex changes and the National Association of Manu Manu- to fight the revised Rayburn bill As we have pointed out before the committee commit commit- tee for the nation crowd is essentially conservative conservative conserva conserva- tive about everything but monetary policy This will become more and more apparent now that their pet devaluation project is blocked a a aNew New York insiders get word that the R H P F C. C will shortly reduce the interest on the preferred stock and debentures which it bou bought ht from r m banks from 5 to 4 per cent This will represent represent represent sent a saving of a year on the thc advances to banks outstanding I IThe The National Cit City bank alone will vilI benefit by a year The move is seen here as another another another an an- other effort t to encourage easier credit J I 4 |