Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-30
DEMOCRATIC CHEST |
HACKERS PAY LOSS.
Guarantors Reduce Deficit of
S1,5o0,O0O to S35o,000
at Conference.

By the Associated Press
NEW YORK. May 3o,--The New York
Times today said that John J. Raskob,
national chairman Of the Democratic
party. has reduced the partys deficit
from sl.5oo,ooO TO s3soooo by calling
upon the guarsntors OF tn, Smith
presidential campaign to make good
their pledges.
This IVES learned last night after a
conference of party leaders ct which
/ plans were discussed for strengthening
/ the organization in the different States
! for the congressional campaign next
year.
Claim CONSERVATION Spread.
The call upon the campaign under
writers was understood 10 have been
made by Mr.. Raskob on his own initia-
tive and to have caused CONSERVATION
among some Of the gusrantors, who had
/ signed the pledges as a matter OF form
/ and had not expected to be called upon
to make them good.
| The guaranty list was made up two
weeks before election. when funds were
running short at Democratic head
quarters. The guarantors were asked
I TO pledge themselves to underwrite any
!
! tributions during the last few days OF
the campaign we're said to have as
! sured this sum being met. but the cam
! paien eventually went over the budget
| and cost 4S,500.000
The Times said Mr.. Raskob was un-
! derstood to have incurred these addi-
tional expenditures without consulting
/ his colleagues a. headquarters, and
some OF the suarantorS were said to
| have expressed considerable resentment
| at being called upon to make good q
| deficit which resulted from exceeding
the budget.
Some Doubt Liability.
Doubt was expressed by some Of the
ruarsntors that they were legally la
bile in view Of the budget having been
exceeded. but as virtually all Of them
are personal friends Of Mr. Smith. they
! decided litigation would be impossible
and agreed to pay.
/ In previous Democratic campaigns
! il was said underwriters were not called
upon to make good their pledges, but
that the deficit was left to be borne by
the party At large at the next ma
tional campaign.
! The largest contributors to the fund
/ to reduce the deficit were Mr. Raskob.
/ William F. Kenny and Lieut.. Gov. Her.
! bert H. Lehman OF New York, each OF
whom was said to have contributed
] s15o,000 in addition to large sums given
during the campaign.
! Others who we're on the guaranty list
were Bernard NJ. Baruch for $4,000
/ Michael J. Meehsn for 5000 or $780,
900 and James J, Riordan for about an
/ equal amount. In addition to the money
/ obtained from the euarantors sl50,o00
was realized from sale OF the campaign
! speeches of Mr. Smith
Shouse Is Present.
It was understood that at the con-
ference it was decided to 60 ahead with
plans for the congressional campaign
on the theory that eufdcient funds
would be available. The conference was
attended by Mr.. Raskob, Jouett Shouse
Of Kansas. recently named chairman OF
the executive committee; former Sen
ator Peter Goelet Gerry Of Rhode Is
land and Representative Parker Corning
of Albany. The presence of the latter
gave rise to an unverifled report that
he would become chairman Of the con-
gressional campaign committee.