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Show MONEY & MARKETS - By James McMullin . Die Telegram's delusive Observe Alma Wall Street NEW YORK Tha more New Yorkers ponder Jimmy Roosevelt's Roose-velt's formal designation as coordinator co-ordinator of IS "independent" federal fed-eral agencies, the more mystified they are by certain angles of this development. They concede that " Jimmy lias Ms father's confidence, is ambitious, aggressive energetic ener-getic reasonably intelligent, and fau ad engaging peiaoualily. But granting these qualifications, qualifica-tions, they don't begin to add up to the stature of the job. After all, Jimmy is only SO. He has made no mark of his own in the public mind and has obviously traded on his father'a reputation. His business and financial ventures ven-tures are reported to have been , remarkably successful, but they have laid him open to vitriolic criticism especially his insurance selling activities and his brief tenure, at high salary, as head of tha National Grain Yeast corporation. He waa aomethlng less than a bail of fire as a liaison man between White House and congresa at tha last session. Thau background hardly seems . jdequiteJorthe rcsponsibility conferred upon "cnif executive assistant to tha president of. the United States. Apart from doubts as to Jimmy's fitness, astute observers are puzzled puz-zled by Mr. Roosevelt's attitude about the appointment They cannot understand how he could have imagined that press and public pub-lic would accept it as a minor change in executive routine "a couple of paragrapha on the fifth page." These sources predict that Jimmy's elevation may rouse forces of opposition even stronger than those which fought the president presi-dent on tha aupreme court issue. The "crown prince" motif gives such forces a perfect target. Pointed wonder Is expressed that F. D. R. could have failed to foresee the storm to which he has deliberately bared his head. There is a growing conviction in high New York quarters that the president no longer shows the same degree . of poise and balanced bal-anced judgment as he did in tha earlier period of his administration. administra-tion. We have previously reported that Frank McNinch, despite his transfer to the federal communications communi-cations commission, still exercises considerable influence over federal fed-eral power commission policies by remote control. However, ha no longer haa time to take an active ac-tive part In its affaire. Acting Chairman Charlea Seavey is not a strong personality. The real driving force in tha power commission com-mission at present Is its newest member, John W. Scott Mr. Scott came to tha commission commis-sion from the department of justice, jus-tice, where ha did a masterful job in handling power cases. He's a lawyer by profession, and he used to be a Republican. He served in the Indiana legislature as a member of that party from 1927-29. 1927-29. But now he's a full-fledged new dealer. He owes his F. P. C. appointment to Senator Sherman Minton. The power commission's recent re-cent citation of Attorney Psxton (representing Associated Gas and Electric for contempt traced chiefly to Scott'a insistence. The latter wanted to bar Paxton from practice before the commission as a lesson to other lawyers, but waa stopped from going to this extreme by Chairman McNinch. Informed New Yorkers get word that Daniel W. Bell, acting director di-rector of tha budget, is favored in influential quarters to fill one of the two vacancies on the federal fed-eral reserve board. Mr. Bell has served twenty-five years in the treasury department with one year out for military service during tha World war. He - started as a stenographer, i Kight yeara later he was in charge of foreign loans, and five years after that became assistant commissioner com-missioner of accounts. In 1931 he was promoted to commissioner of accounts, and when Lew Douglas Doug-las quit in a huff he waa drafted to take charge of the budget bureau. He is strictly a career man, having hav-ing risen' in office under both parties and shunned politics like tha plague. He could have had a regular appointment as budget director, but preferred to retain his civil service rating. He is an outstanding expert on all phases of government finance and haa tha respect and confidence of federal fed-eral reserve officials and many bankers. There is a move afoot to reward him for hia .long and efficient service. Even anti new deal financiers concede that he should be a valuable addition to the reserve board. The director of radio activities in Jerry Mahoney'a campaign for tha New York mayoralty is Ralph Steinberg. Mr. Steinberg waa loaned to Maboney headquarters by tha Democratic national committee. com-mittee. He served last year as coordinator of all foreign language groups in the Roosevelt campaign, and haa ainca been assigned to varioua odd jobs. Sources who should know say that Mr. Steinberg was tha first to introduce "strong-arm" methods meth-ods of marketing that famous 193a Democratic campaign book. Copyright 137, Tha Telegram |