OCR Text |
Show MONEY & . -: MARKETS By Jamei McMulfiri TV T.Ue''l Iwtn'.o Okie wsr Ai, w.i y,r NUW YORK Tb MUenal Isber relation board, as U sew prestige eeafemd poa It by veJIdatlea af the Wagner Sol, at ender heavy fire frees. t ee rata quartan Business leaden htv pot been at all backward wlla lnUrae'leoa that the board aa at pi" ee aUtuted la bearlly biased la fever ef laker. THey are palling every wire ab their command la Wash- , InrUMl I bring sbevt a change ef peraoniMl Tha aaw ewra ef a controlling " Interest la the Vaa "warlagsa ee-pir ee-pir Reaert R. Teunf, freak . Kethe aad Allan F. Kirby a veil bargain la one reepeet, Ter 14 moos they woagtt eeeurttle worth eenetderaUy aer at ear-rent ear-rent market eae. At the MM tlava they aVefced theouelvea a " of asserted grief, first they saw a with Benatar Bortoa K. Wheeler, who alwaya suspects tho eeiet. aad convince bins they are wot at-tempting at-tempting anything nsfartoue. The they have U tackls their setf-lmposed Beoblem of alisrpilfy-In alisrpilfy-In the supeaeera plicated capital structure devised kr theee masters mas-ters of the di 'Haass ao Vaa eVseera Ingen. That a chore at which. Here a lea anight legitimately wince. The initial step la the eunpllnVe 11 oa will undoubtedly be the dis-aeiuUea dis-aeiuUea of the Chsaar.ee ho corporation cor-poration aa Intermediate boldlng eompany. Nest weald be retirement retire-ment ef the AlWfheny eeneratlen bend Issues maturing ta 1M4 and IMS. After that the real fun begin what to do about the various lasuea of Alleg-beny preferred stack la order to fire the cem-maa cem-maa a deeent chance to cash la ea the earalnae of the Vaa lr-Infea lr-Infea preperue. They must anlve It If their Investment la Is beconte really profitable. Wall Street Isat nearly aa pessimistic pes-simistic aa President Roosevelt about the shorts of federal revenue reve-nue below prevlaos estimate for the fiscal veer HIT. New York lu esperts here been busy estimating the probabU final returns for the year ending Juno to, ltrt. on the basis of actual returns re-turns to data. It doesn't look to them aa if the final Crura wi bo as bad aa Mr. Roosevelt forecasts. Cynical antlnsw dsslers srpr s a firm private conviction that loo president Is splaahinc on the black paint now so be can point with pride arter tha fiscal year la ended end-ed to the Improvement over bia current eotimats. It would turn tha motor Industry Indus-try Inside out If American legislators, legis-lators, hard pressed for fresh sources of revenue, should ever decide de-cide to remodel American ante-mobile ante-mobile taxes on the British pet-Urn. pet-Urn. Oreat Britain levies a tax an automotive vehicles of fJ.Tt per horsepowsr per year, plus a gasoline gaso-line Is which la recent years has been reduced to 1( cents per gallon. Figuring that the average email car usee tOO gallona ef gas per year, auch a car would pay around tmo annually la taxes an-der an-der tha British arstem. (Copyright. 1MT. Medure Newspaper News-paper Syndicate. ) |