Evening star., 1934-09-28
LIBERALS CONTROL
|NEW N.R. A. SET-UP
in FALL CAMPAIGN
Richberg, Victor in Row
| With Johnson, Assumes
| High Command.
CLAY WILLIAMS HEADS
| Administrative UNIT
1ckes, Perkins and Hopkins to Aid
in Forming Recovery Policies.
Lynch Remains.
By the Associated Press.

By the Associated Press.
The new National Industrial Re-
covery Board, set up to administer N.
r. A, reported to President Roosevelt
today it had organized, with Clay Will
liams of North Carolina as chairman.
The recovery board selected Leon
c. Marshall of Baltimore as executive
secretary and requested Col. George
A. Lynch to serve as administrative
of1cer. He has been acting admins
traitor in the absence of Hugh S. john
son, who resigned.
Naming of this board was one of a
number of major moves made by the
Roosevelt administration in the last "a
hours, quickening the tempo of the
Autumn attack on recovery problems.
Leaders Are Liberals.
Paramount among them is the
Presidents action in placing control
OF N. r. A. policy in the hands of
aides generally regarded as among the
more liberal leaders in the Govern
ment
With the President back in the
White House after Summer days,
significant events crowded thick and
last. Among them, were these:
/. Donald r. Richberg. whose Diff
ference of opinion with Hugh S. John
son attracted wide attention, emerged
today as the top man in the Industrial
recovery drive. To reorganized In
dustrial Emergency Committee Of six,
which Richberg heads, President
PnnSaynlf 10 81 ,frl,%
laying down policies for a revamped
N. r. A.
2. One-man rule of N. r. A., from
which Administrator johnson has re-
signed, passed definitely out of the
picture when Mr.. Roosevelt selected
the Industrial Recovery Board, con-
sisting OF two industrialists, two labor
experts and a college professor to ad-
minister the Blue Eagle unit, under
direction from the White House.
Gossip Mongers" Hit.
3. President Roosevelt struck at
gossip mongers," who would create
fear or encourage panic" In a
radio speech last night he cited
Wall Street" rumor, which he brand
ed as wholly untrue" that Secre-
taries Wallace, Perkins and Morgen-
thau, with Rexford G. Tugwel, Under
secretary of Agriculture, were to re-
tire Immediately
4. The Federal Reserve Board-in
setting sliding scale of between IS
and IS per cent for stock market mar
gins and establishing somewhat
flexible rules for handling accounts
was believed to be aiming at
moderate course that would not un-
settle the market.
S. New moves to increase the flow
of credit were under way. The r. F.
c. decided to buy preferred stock and
capital notes of trust companies spe-
cializing in mortgage loans, and to
encourage the creation of new trust
companies that would put money out
in mortgages. The need for more
speed in handling applications for in
dustrial loans was outlined by Secre-
tary Morgenthau to chairmen of the
Industrial Advisory Committees Of the
IL Federal Reserve banks.
Wallace's Choices"
g. To critics of Government in
business" Secretary Wallace made
answer. In the current Golfers
Weekly he cited three possible choices:
Communism, fascism, or Govern
ment that is "a partner with business,
labor, agriculture and consumers"
Besides Richberg, the board to form
N. r. A. policy will include Secretary
Ickes. Secretary Perkins, Farm Ad
ministrator Chester Davis and Relief
Administrator Harry L. Hopkins. Will
liams, as chairman of the admins
trative board, also will serve with the
Richberg committee.
Besides drafting N. r. A. policies
the committee was directed to make
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