Salt Lake Telegram | 1934-04-26 | Page 4 | The Daily New York Financial Whirligig

T THE E DAILY NEW YORK Fin Financial a Whirligig 1 r 1 i gig for o The Telegram By JAMES McMULLIN WASHINGTON How business has snapped out of to the government of twelve months ago is being illustrated d daily ily in Washington Railroads banks utilities which once came hat in hand to the R F C begging for money are now paying back their loans going out to fight the administration all along toe the line The most significant instance recently involved involved in- in the Pennsylvania railroad Federal Rail Coordinator Joe Eastman had ordered all lines Iines borrowing money from the government to curtail curtail cur cur- tail the lavish salaries they were paying to their executives General V. V W. W Atterbury president of the Pennsylvania was one of these He was ordered ordered or- or dered to cut his salary check written out to the tune of But General Atterbury demurred In fact he demurred so strenuously that the Pennsylvania Pennsyl- Pennsyl vania borrowed the money it owed the government government govern govern- ment and paid it back The loan was 20 Atterbury's salary remains intact Army See Saw The see saw of political fate has reversed itself where two dynamic figures in the war I department are arc concerned S Two months ago pugnacious Harry Woodring Wood Wood- ring assistant secretary of war was on the low end of the plank His name seemed smeared with the mud of an army army motor truck scandal General Gener l Douglas MacArthur swaggering chief of staff was riding high wide and handsome Now the situa situation ion is reversed H Harry rry Woodring has cleared himself of suspicion suspicion sus- sus in fact was praised by the house military affairs committee The governor ox-governor of Kansas unquestionably was a little too anxious to please some of his old Kansas friends but he has now worn off the rough edges learned something about the army and is getting places General MacArthur on the other hand is not His year four tour of duty as chief of staff comes to a close soon Army custom that this job should rotate that no general should succeed himself MacArthur however feels that he should be an exception to this rule And he has been pulling every conceivable wire to this end War Var Skyrocket But during the World war MacArthur won the confidence of Secretary Newton D. D Baker suddenly was promoted from major to brigadier brigadier briga- briga dier general was the only brigadier general below below be- be low the grade or of colonel to keep his temporary war rank afterward In the later hater on MacArthur chafed because he wasn't being promoted f fast st enough He wanted to be a major general So his wife now Mrs Lionel Atwill cabled her stepfather Edward T. T Stotesbury wealthy Philadelphia financier Stotesbury a heavy contributor to the Republican campaign chest hammered on the desk of the late John W. W Weeks then secretary see sec of and var MacArthur got his pro pro- motion But now it is not so easy In Wrong at White House MacArthur got in wrong at the White House for the way he slid out of responsibility for the theair air mail fiasco Also the grand jury investigating invest invest- gating army purchases smeared him for rowing with Woodring So the other day clay the White House sent to the war department an OK for the r reassignment reassign reassign- a ign- ign nent ment of General G. G B. B Pillsbury as assIstant chief chic of engineers Like M MacArthur cArthur Pillsbury already h had d served four years in this job ob was reassigned to serve four more But attached to the OK was a slip or of paper on which was scrawled in pencil There are areto areto to be no further reassignments of general officer officers cers beyond the regul regular r year four period Below the scrawl were the initials F D. D R. R Loose Talk The are doing a lot ot or of loose talking They claim that they have enough votes to force a mandatory bill through congress contress con con- tress gress over the presidents president's head if he refuses to accede to their demands This is idle chatter Floor leaders have made a private poll poU of the senate say flatly that they doubt if the silver can put a bill through the chamber on a a. majority As for lining up two thirds to override a veto that is wholly out 0 0 A Wall Vall skeet t genius has doped it out that the government sho should ld pay more attention to stockholders and less to wage e earners He has figures and everything to prove that large corporations corporations cor- cor have more of the former than the lat lat- therefore ter-therefore their purchasing power should be considered first For instance the Bell Telephone Telephone Tele- Tele phone system has stockholders against Statistics for General Mot Mo- Mo t rs show to Other companies in the same boat include U. U S S. S Steel General Electric PennsylVania railroad Standard Oil of New Jersey and so on through a long list Neutral observers doubt that the president will willbe willbe be impressed 1931 by br United Future Syndicate c Inc j i S