| Show MONEY MARI MARKETS ETS By James ames McMullin The Telegrams Telegram's Exclusive Observer Along Wall Wail Street NEW YORK YORK The The appointment of Adolph A. A Berle Jr to be assistant assistant assistant as as- secretary of state is a perfect perfect per per- feet sample of kicking a man upstairs to keep him from becoming becoming be becoming be- be coming a nuisance Mr Berle EerIe an original Roosevelt Roosevelt Roosevelt Roose Roose- velt has been far closer to Mayor LaGuardia than he has to the tho president in recent years Both he ho and the mayor are enrolled as members of the American Labor party As we reported several weeks ago LaGuardia LaGuardia LaGuardia La La- Guardia was toying with the idea of having the Labor party boost Berle as its candidate for governor governor gover gayer nor of New York and then trying to force the state Democratic party to nominate him also as the price of Labor party support in the election this fall tall The Tho scramble for the tho Democratic Democratic Demo Demo- cratic gubernatorial nomination was already wild and heated enough to thre threaten ten a serious split inside the party The intrusion of Berlo Berle as outlined above would have multiplied confusion Into a a. madhouse That just couldn't be allowed to happen So he has been sidetracked Into this handsome handsome handsome hand hand- some federal post post and and the Democratic Democratic Democratic Demo Demo- cratic that powers can breathe a lot easier Even so some of Mr Berles Berle's friends and admirers are a bit uncertain as to his qualifications for a key position in the state department Comment is heard that the tricky and turbulent waters of international affairs are no place for amateur fishermen fishermen fishermen fisher fisher- men these days Mr Berle EerIe is unquestionably a brilliant man who has done a number of first rate jobs He graduated from Harvard college at the age of 18 and earned both master of arts and bachelor of laws degrees by the time he was 21 He is associate professor of corporation law at Columbia and has been a big help to Mayor LaGuardia in streamlining New NewYork NewYork NewYork York City's government But his only practical experience experience experience ence in foreign affairs was as a avery avery avery very young expert attached to the American commission to negotiate negotiate negotiate peace with Germany and as asa asa asa a member of President Roosevelt's Roosevelt's Roosevelt's Roose Roose- velt's party visiting Brazil and Argentina in 1936 His quick in intelligence intelligence intelligence in- in should be a valuable asset in his new post but some insiders familiar with the in intricacies intricacies intricacies in- in of modern diplomacy would be happier if he were less lessof lessof of the in so authoritative tive a place The latest dark horse candidate for the paid presidency of the stock exchange to attract attention attention atten atten- tion in high New York quarters is Chairman Jesse Jones of th the Reconstruction Finance corpora corpora- corpora tion A number of influential people are convinced that he would be an ideal choice and are quietly trying to build up sentiment sentiment sentiment senti senti- ment for him behind the scenes Conservative financiers were rather appalled when Mr Jones was first named to head the R. R F. F C. C They regarded him primarily primarily marily manly as a promoter and a speculator and were inclined to tobe tobe tobe be skeptical of his abilities as a banker But they sing a different tune nowadays The R. R F. F C. C Under under under un un- der his leadership has been one of the outstanding outstanding- successes of the new deal His skill as an administrator is proven Moreover Moreover Moreover More More- over he has excellent political connections connections connections-an an asset not to be ignored Insiders understand however that Mr Jones has not foregone one his political ambitions and ambitions and these may prove an obstacle The stock exchange post will pay well but it isn't likely to offer much of a up build-up for political popularity Eli Oliver is not yet known to the public but he probably will be If the movement to promote a national labor party ever gets anywhere he will be largely re re- re Mr Oliver was a statistician for George Harrisons Harrison's Brotherhood Brotherhood Brother Brother- hood of Railway Clerks Clerks Clerks-an an A F L union Mr Harrison brought him into the N R A where he did dida a jo job that won the high respect of his associates though he got Oot no publicity out of it When When Labors Labor's Nonpartisan league for Roosevelt was formed in 1936 1036 Mr Oliver became the real executive tive tive head of it though it-though though again bigger names ca caught the head head- lines He is still stilt the works of that outfit which is by no means defunct His idea is to build gradually and quietly and avoid premature publicity Sources in ina ina ina a position to know say he has made far more progress already than than is generally suspected Still technically a member of an A F L organization Mr Oliver is thoroughly sold on the C I O O. O principle of industrial tion He also firmly believes s that labor should be welded into a cohesive political force and he heBs has Bs the ability intelligence and initiative necessary to go places with that program Wall Streeters are having fun with a proposal to raise a 5 fund to be offered to President Pesi dent Roosevelt if he he- he will he-will will resign within five months It will probably probably ably remain conversation citation rather than u cash cash but but anti crack cack that it would be at once the biggest and the cheapest bribe on record Copyright 1938 for The Telegram |
