Show Nand Nana HEARD 91 around the Capital By iy CARTER FIELD FIELD Jj piston piston-A ton tonA A phase se of the econ con gram of nud Budget et Director Lew Lew- Lew ns as whIch seems slated for the thel l sInce co 0 many senators and of If the house have e gone back chit of forcing the retirement ement employees ees who ho ba have bae bathE havethe e thE pa pay v roll for thirty ty years e ts agaInst thIs plan began Into W some time timet t t they onh came from ho were then 0 over er the thirty thirty- led iod or rapidly approaching it eat ent employees ees who sun still had bad a ars ars rs to go before attaining thIr service assumed that the gal rul gald d be changed before it ever eer ice to hit them theme e his passed p and the ruling 1 been changed Beginning q oath before adjournment the theaU aU all on this point began to toch eh ch a flood tide that it t tip ap to be organized Employ ees In WashIngton but In sir sir- ery ry post office custom house honse i evenue bateau and what not clamored to theIr sea sen sead d members of the house bouse for fory fory y action by congress to force to desist deci t It Is quite likely there had not been such a ai i sh to adjourn something of would hay ha e a P was reached with n D and then the senators and andS S tines tives for the most part went short they got back where wheres k s fearing the retirement act It Itt p t at them And they heard uA attacked attached the plan of they are personally in II changing It But they also attack on two other grounds M In the customs offices A ernal revenue bureaus et the sen service ice when wIlen they young thou young thousands ands of them Its RS eIghteen or nineteen Un j Douglas plan they would be behen behen I hen only fort forty eIght to fifty They point out that many 11 axe e fixed obligations Some P g houses Some are paying ill mince premiums Very many rUng famIlies The cut In inis IS not so bad The 15 per i ered them but dId not But a reduction to a pension iS ing on the heels of what hat to 1 tt been a 1 tough time due to the 1 coming just as the cut is be- be beally bea a ally restored would leas e eb eit b it 11 and dry f I Efficiency i ld Id employees point out that thata a o real efficiency in the plan lie Ie government saves S1 the dif dlf the retirIng salarIes of clerks just enter ente Trice This is more than off offS S say by the much greater ef ef- ef ue to long e of the They make m their theire e e with Ith respect to clerks who ho retired retired around fifty to fifty fifty- t serious argument Is made employees ces whose em effi been le lessened by ad adt ap makes the small net r the dIfference between een the es cs of salarIes It does not nv av the pensIons These come comee 3 e retirement fund x ht here lies one of the real realS tt S of all federal employees Oi Oia e a measure whether they be beof bet t of early retirement or not f Is that this plan by whole whole- of lane larcO lar cO numbers ot of would cut ll heavily into this t fund The employ ees charge wo 0 or three ee years it would 1 se up this back log bunt bulIt up lag Ing upIng from each PlY pay check chech of plo ploy ees over long y ears dur they hate ha looked forward to tot toi tot i t retirement plan was aUy figured on life insurance 1 The amount to be taken h 11 employee ee was calculated n the idea of employees ees being hen well ell up In n the sixties length of life during p pensions would be drawn i las plan knocks knochs all this gal lb W Wa a Punch I Iad fid ad whisky are the prime In iQ for a good punch They IT U used ed la a In the punch candidates candidate intend to t 0 their Democratic opponents s and I ar arVest West Vest during g fall electIons j this brew beIng bottled In the closing he Seventy thIrd congress uld id babe hn been more suds sud on 0 p ad It not been for the strict t on debate Imposed In the th e Ing thing the tact la t days fling of this punch has been bee n ands aDds of former Republican n aUve John C Schaffer chaffer of o f 1 I Iwho who was defeated for re- re rethe r the 1932 1033 Democratic land Who t will run for congress s Ither for the senate against t 4 e 0 or as e from fro dIstrict mer tIle the former congresSman n aSSiduously working with h nd corporation directories o aln officials In the presen t 1 up with Ith Cuban sugar suga r l and domestic S ana and an d a aS Ith the WIsconsin bent es from fro m sugar beet and graIn s states of the tho West Mr Schafer s Washington work has hns been done clone in their offices Just how bo potent thIs Schafer brew will be remains to be determIned Checking Up Fares Some curIOUs results are arc expected to flow from the analysis of actual trans trans- transportation ticket et sales now being con ducted jointly by the office of Railroad J Crar Eastman and ThIs Is part of an n to determine the comparative e volume of passenger travel by railroad busses boats and airplanes Returns are now comIng In from a sent Clent to the railroads and t work ork t will Soon stal start t on replies from the air and water t line lines investigation The broad pur purpose pose or of the tion Is to determine whit wh could be done bedone to increase the total volume of passenger eI traffic by common 1 of t which gets the business Also Alo to Improve e sen service Ice and at the same time increase the profit or cut the los from passenger operations Any knowledge ledge of where e passengers come from and t where bere they go Is now concealed effectively In the gross fig fig fig- figures ures transportation on operations by b the tion companies Some of the records of ticket sales ha haere have ere re- re revealed surprIsing blind spots in pa- pa patronage between points where excel excellent excellent lent servIce has hns been maintained For a check of ticket sales out of Cleveland Cle b ba b a nationwide bus system disclosed not a single pa sen- sen ger traveling to New Nev England by bus Again a railroad in Marne dId not sell sella sella a single ticket et last summer to the Chi Chi- Chicago cago fur fair although this spent considerable money ad ad the at- at attractions attractions tractions of the fair to people of the Pine Tree state One of the southern railroads did not sell one ticket to any poInt west ot of Chicago although that railroad spent a great deal of money seeking to influence people 11 li Ing along Its lines to take tahe hips to Yellowstone and Yosemite It Is belIeved by ICe officials that the money now being spent for advertising adver- adver advertising by railroads and possibly by air air- airplanes planes boats and busses might result In a great deal more Cl cash ch entering the treasuries of these companies If the thead ad adl el were more intelligently done May Cause Hardship Failure of the senate to heed the pleas of Senator Robert J Bulkley of Ohio ObIO In the closing horns bOUlS for passage ot of his amendments to the federal ro- ro reserve serve sele act was the biggest disappoInt disappoInt- disappoIntment disappointment 1 ment of the whole hole session of congress so far as the treasury comptroller of the and banking fraternity are concerned The administration of- of officIals officials had very ardently urged the adopting of these amendments but they were caught In a jamA Jam JamA A peculiar phase of the situation is that no one was WIS really opposed to them Some casual references were made to theIr being written in Wan Wall WallStreet Street and that sort of thing but a canvass of the senators afterwards dIs dIsclosed disclosed closed that this was just idle chatter and that no one really meant It Sen- Sen Senator Senator ator Bulkley is confident that they will willbe be adopted In January but in the meantIme accordIng to the comptroller's comptroller's lers ler's office considerable hardship may maybe maybe be caused and quite unnecessarIly by their failure For one of the amend amend- amendments ments ment changing the banking act of I 1933 was to permit orderly liquida- liquida liquidation tion of the assets and securities of securIties companies affiliated with banks which me ate members of the fed federal federal eral reserve reser system when such corn com companies panics are placed in formal liquIdatIOn and are transacting no other business Its purpose was to prevent such corn com panics dumping their assets on the market In a ru rush h to dIssolve before the date flied fl ed In the law Such dumping would not only result In sharp flees on the part of the stockholders holders of th the companies because b ause the effect of the dumpIng would force down the price below what it should be but In addItIon the effect on the whole hole market mar mar- ket het would be bad Would Hit Stockholders such a securIty corn com company pany affiliated with a member bank and anxious to close out on the day filed by the 1933 1033 law mIght own a avery avery very large block of some wIdely held stock ThIs whole hol block beIng dumped on the market nt at once would force the price down The stockholders of the security company would fluId take tahe nn an un un- un unnecessary necessary lo loss But In addition every owner of that stock Would see hIs as- as assets assets sets dwIndle If he had the stock up as collateral at the bank his loan mIght be called And nd nIl all just because ot of a drastic provision of law which ev- ev body concerned from the ler of the currency down wanted to change Another of these amendments cleared up a provIsion of the 1033 act which has been Interpreted as pre pre pre- preventing venting non member banks from deal deal- Ing in United States government bonds state and municipal bonds as welL The law was as aImed at pre presenting enUng banks from having security affiliates No one Intended to prevent pre these banks backs from bu buying ing or selling govern government meat ment bonds here were a dozen other amend amend- amen meats ments all more or less Important to limited groups and none or of a charac- charac character ter really controversial Yet they all went by the board n the last rush One little one failure of which Is very Tery anno annoying locally In n a number of in instances stances Involved small bond Issues as astor for tor instance of clubs Existing law would world permit perrott only a hundred thousand thousand- dollar limit on purchases ot of total is 18 issues sues by one corporation Bulkley amendment would have raised this lim- lim limit it to a million dollars CopyrIght Wl U |