, 1935-05-19
WASHINGTON
RY Raw Tucker

DN nay AWCkEf
Hoist - "A smart newspaper re-
gave away the secrets OF the
great navy war game In the Pacific.
The opposing fleets are supposed to
be operating under wartime condi-
tons. but he figured out their re-
spective battle lines and wrote q
piece for more than 1000 newspapers.
The navy screened its war plans
the utmost secrecy and CEN
sorship. But the journalist had liv-
ed In the Orient, knew the navy from
stem to stern and pieced together
fragments of gossip and reports. Al
though the gold braiders deny IL. he
spotted the position or the two fleets
with uncanny accuracy. But the
most unfortunate development $50
from the S~trategiSts' viewpoint -
was that his story was broadcast by
navy radio to the ships engaged, and
published In their daily newspapers.
At breakfast each admiral read In
detail the plans and position Of the
enemy" vessels. The air became a
vivid blue - and not from gunfire.
Washington war-makers scream
ca with pain and disappointment.
But when Admiral William ri.
Standby. chief OF operations. chided
the reporter he got the reply that
navy communications bungled In
radioing the disclosure 20 the par
Elephants. The serious angle In Of
ficialdom is that what a reporter
a 90 somebody else cen - In war
time too.
CaseS-without any fanfare Jesse
Jones ~ trying to smash banker
resistance" TO the New Deal.
Though he delivers his sales talks
behind closed doors enough has
leaked out to indicate that he lee
lures them sharply on the need Of
waking up and ~loosening up.
In negotiating direct RFC loans
to business and industry Chairman
Jones has found instances In which
he thinks bankers have fallen down.
He pulls the record on them when
they plead that they want TO make
loans but can't find sound invest
ments. He insists that some are too
Old -faShioned to 20 after business
which lies outside their revolving
doors. The bankers. OF course, re-
ply that he can take more chances
with Uncle Sans money than they
can with their ~depositorS.
Banker Jones rifles UP az this an
Swer. He names names and lists
loans first denied and then granted
As a result Of RFC Intervention.
Hustlers 80 Jesse points out that
the RFC lends only after a borrow
er has been turned down by his bank.
al also requires that other creditors
subordinate their claims To the gov
ernment's. 1t has advanced about
$50. 000. 900 to 100 borrowers a
comparatively small amount 80 un-
der this system.
Jones investigates the borrowers
condition. earning possibilities, over
head and character before he hands
out a penny. Sometimes he submits
his analyses TO the local banker who
originally refused to advance money.
In many instances involving millions
of dollars the bankers have made
loans or the basis OF these RFC
studies. The Federal Reserve Banks.
which are canvassing highways and
bywayS for borrowers. have authoriz-
ed loans totalling more than SSS.-
600 900 In this same way. III has.
ike Jones, brought together bank
ers and borrowers.
What Jones wants to know Is why
the bankers don't get out and hus-
The business Is small but u Is
he says. II they will 20 after
* In a big. brotherly way like he
Toes.
Typical - An important manu-
iacturer OF aluminium 80 not Andrew
Mellon has been sitting be-
meath the palms In Washington ho-
Tel Hobbies for weeks. He intends 10
move his industry 10 Bonneville as
soon as he discovers what the cost
Of power to be supplied by that
northwestern project will be.
But delays In fixing the rates are
d~iscouraging. They may turn him
from his plan to inaugurate the in
dustrlal trek to the Northwest which
President Roosevelt anticipates
through construction OF great power
cams at Bonneville and Grand Cou-
lee. Involved In the same program
AZ the decentralization or industry.
Army engineers say privately that
they can fix an approximate rate
between , and 3 mills per kilowatt-
a. soon as "a few MISUNDERSTANDING
are ironed out.
Bonneville will be ready for op-
a. alton In eighteen months. But an
executive order provides that It's
rates shall be comparable" To those
at Grand Coulee. Grand Coulee will
not be completed for several years.
Nor have work-relief planners de-
cided whether to approve the appli-
cation that a high power-and-irri-
gatiCa dam be built instead OF the
proposed low dam. Until those
questions are settled no authori-
tative Bonneville rate lis possible
And the aluminium maker may
change his haraSsed mind.
Women - A recent White House
visitor interested the president with
a theory about political shifts which
warrants a checkup. He informed
the chief executive that men were
heading back to their traditional
party affiliations 49, Jeffersonians
like Glass TO theirs. republicans TO
theirs 80 but that the women we're
sin preserving an open mind. II was
his opinion as q result OF talks and
travels that the distaff majority
still favors the president and his poll
cies.
Feminine leaders among the dem
ocrats make the same claim. Al
though slightly p~rejudiced. they say
that reports from the field verify
the survey given the president.
Never were democratic political