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Show Merry-Go-Round By DREW PEARSON and ROBERT 8. ALLEN .JfSH,.NGT0N-The Prwid'nf long threat-ened threat-ened invetigtion of monopolie. finally i under way. He ,t.rted it last Wednesday with secret order to th Justice department to begin gathering gath-ering evidence at one on price-fixing in "con-umer "con-umer good." " ?' W ltem? P,'r'-ally listed by the president of immedite probing is newsprint Price in this commodity have zoomed in recent month although there is neither a dearth nor unusual demand for it. Roosevelt has repeatedly announced a survey of antitrust law violations, and in his last fireside fire-side chat he said it was actually in motion. Th (Utement completely baffled justice department de-partment authoritie. who knew nothing about the inquiry. They had been twiddling their thumb impatiently for months waiting for a go-ahead signal from th Whit House. Roosevelt apparently thought he had given It, but discovered hi mistake after he made the peech. In any event, when he did step on the starter he told the justice department not to spare th gas. Ns Japan The navy department received a radio message mes-sage from th far east the other dav, telling of an International encounter not reported in th war dispatrhe. It involved not Chinese and Japanese, but British, French. Italians and U. S. marine. There was a Joker in it. Here Is the text: 'international track meet Pelping first days core: U. 8. marina 20, British 17, French 3, Italians 3, Japanese not competing." The message was signed by Colonel John Marston, commanding officer of the marine detachment, de-tachment, Peiping. Morgenthau Victory There was more in the revised budget Issued by the president last week than mere debit and credit figures. Behind the announcement- that the Reconstruction Recon-struction Finance corporation would liquidate its commitments was a long-sought triumph by Secretary Sec-retary Henry Morgenthau over RFC Chairman Jesse Jones. Thes two administration big-wigs hav been ecret rival since the erly day of the new deal, when both aspired to succeed the late William Woodin a secretary of the treasury. Young Henry was head of the farm credit administration, administra-tion, which he had reorganized and revitalized. Jesse wa an 'experienced financier, an R F C veteran and a potent politico. On the surface all the chances seemed to favor Jone. But Young Henry, old friend and Dutches county neighbor of th president, got the plum. In the four yers since then, Morgenthau privately pri-vately has always had his finger crossed when Jone and th RFC were concerned. Very sub rosa he opposed th 1935 proposal to give the R F C an additional several hundred million dol-lar dol-lar for loans to business men needing credit. But Jesse was too wily for him. Quietly pulling wires on Capitol Hill, he put the plan through although al-though afterwards he made very little use of the money. The undercover duel continued with Morgenthau Morgen-thau intensifying his inner council agitation to put an end to R F C spending. Knowing Jesse's power in congress. Young Henry laid off his drive last session. But once congress was out of the way, he resumed his pressure on the president. The following remark in the president's budget summation told the story of Morgenthau' victory: "... I hav determined that no further commitments com-mitments should be mad by th Reconstruction Finance corporation other than for administrative administra-tive expenses . . ." This means finis for the RFC. Henceforth it will be merely a collecting agency fur it outstanding out-standing loans. How Jessee will take his thumping remain to be seen. Some of his intimates predict an early resignation. Snub Top officials of the American Bankers' association asso-ciation don't like Franklin D. Roosevelt and they make no bone about it Invited to attend the dedication ceremonies of th new federal reserve board building at which the president spoke, A. B. A. President Orval W. Adams, First Vice President Philip A. Benson, snd Second Vic President Robert M. Hanes, declined. de-clined. Caustic new deal critic. Senator Carter Glass, former A. B. A. President Robert V. Fleming, and numerou other banker were on hand. But the three association executive were conspicuously , absent. (Copyright, 1937, for Th Telegram) r |