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Show WALL STREET VIEWS By Jam McMuKn, Financial Obf rvf V NEW TORK Chairman An- 1 draw J. May (Kentucky) of the I hniM military affairs committee la congressional hero no. l to New York tnduatrlailsta and financiers fin-anciers at present Ha did mora than anyone else to get the bill through the house that clips the Tennessee vallay authority's winga the first serious setback the new deal powar policy haa suffered. Mr. May la a Democrat of the old school and ktoka the part. He came from a coal-mining district dis-trict and was once the head of a coal company himself, which helps to account for his consistent antagonism an-tagonism to TV A. He waa firm and resourceful In his opposition to the N orris proposal that would have permitted TV A to expand its theater of operations considerably. consid-erably. The new dealers are pretty sore at Mr. May for tossing a large monkey-wrench Into one of their pet projects but they aren't likely like-ly to try to crack down on him. A warm supporter of the president's presi-dent's rearmament program, he haa successfully warded off aharp attacks on It from pacifists and Isolationists. His services In this connection are too valuable to be lost So he will escape admime- VA's style, despite the wrath of the Norrises and Lilienthals. As Congressman May leads the house conferees to battle for his compromise TV A measure, the veteran warhorae George W. N orris or-ris trumpets defiance from the senate side. The Nebraskan, an outstanding advocate of public ownership of electric utilities, insists in-sists that he will never permit the upstart house to shackle the future fu-ture activities of his beloved TV A. A curious angle is that, while Norris gets the spotlight as T V A's chief defender in the senate, sen-ate, he isn't the official leader of th an.t. Mnferees. Ellison D. tive Democratic leaders. Calder came from Texas originally and la on cordial terms with Important Texas politico. That may be the answer to the riddle. Tommy Corcoran and his "brain trust" associates hava a brilliant scheme to make Tammany over Into a new deal machine. The general idea Is to name a triumvirate to rule the organization, organiza-tion, consisting of Christopher D. Sullivan (the Wigwam's present boss), Congressman James H. Fay and Marshal John J. Kelly. The two latter are loyal new dealers. The inclusion of Sullivan la supposed sup-posed to make the dose more palatable pal-atable to Tammanyites of ths old school, but he would have no real authority. Promises of lavish federal fed-eral patronage will be used induce in-duce the boys to accept the proposed pro-posed new regime. Corcoran and company figure the Tiger is sufficiently suf-ficiently starved to Jump at the bait. If this ingenious plan worka out, Jim Farley would be completely frosen out of the Tammany picture. pic-ture. But Insiders say that any attempt to streamline the Tli;er to new deal specifications will run Into passive resistance that will . jnakeJJandhl look like a piker. Informed New Yorkers report that Grove Patterson, editor of the Toledo Blade, Is Governor John W. Bricker'e chief backstage back-stage political adviser. Mr. Patterson Pat-terson is very active behind the Republican acenes In Ohio. It was on Patterson's advice that the campaign to make the nation Brlcker-conacloua has been called off for the present. Comment Com-ment runs that this waa aound counsel. The G. O. P. hopefuls who are in the limelight Dewey, Taft, Vandenberg eeem to be drawing mora brickbata than bouquets. bou-quets. Copyright. 1939. McClure Syndicate. Smith (South Carolina), chairman chair-man of the aenate agriculture committee, technically heads ths senate group, which goes to the mat with May's delegation from the house. The administration attempted unsuccessfully to purge the South Carolinian in last year's primaries, pri-maries, and hs naturally has no great affection for the new deal. A conservative by background, he Is understood to be sympathetic to the measure passed by the house. But Norris, although he belongs to no party, has much more influence in the conference. A prolonged deadlock is in prospect pros-pect before the representatives of house and senate can reach an agreement Both groups are determined de-termined to maintain their respective re-spective positions. The New York stock exchange last week named Curtis E. Calder as a representative of the public on ita governing board. The appointment ap-pointment waa made to fill the vacancy caused by the resignation resigna-tion of President Robert M. Hutchlnj of the University of Chicago, who quit several months ago because his fellow governors unanimously refused to support his proposal to reopen the Richard Rich-ard Whitney esse. The choice of Calder has Its curious cu-rious aspects. He is president of American A Foreign Power, the International subsidiary of Electric Elec-tric Bond A- Share. Like most other Bond A Share executives, he was a protege of Sidney Z. Mitchell, the former utility czar. Bond A- Share has been a special spe-cial target of new deal legislation, so there is more than a faint tinge of Irony in the aelection of one of Its officials to represent the public In the stock exchange's reform re-form regime. Moreover, the other two "public representatives" on the board of governors are Carle C Conway of Continental Can and Robert E. Wood of Sears, Roebuck. Roe-buck. Comment is heard that the exchange must think the public consists of heada of listed corporations. cor-porations. While the present stock exchange ex-change management tries to get along with the administration, it has close but unadvertised personal per-sonal connections with conserva- |