Evening star., 1938-02-03
Business
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trained their cameras on the Philadel-
phian. shouts of Throw him out"
echoed through the hall.
Called Publicity Hound"
Hes nothing but publicity
hound! Throw him out!" came an
other voice.
The guards were little slow in ac-
ton and the members of the confer
ence anticipated them. Still sticking
to his chair. Mr. Shafer was trundled
out into the adjoining hall.
Then the conference went on to ad-
journment.
The conference steam roller that
put across the legislative program de-
sired by little business also was
responsible for avoiding another fight.
1t developed today that the delegation
|. which had been chosen to visit Presi-
dent Roosevelt and present the con-
ference program was to be composed
Of chairmen of the group sessions.
Nine Of the groups dealing with
specific problems appeared to have
met on harmonious basis. Their
reports came from their chairmen to-
day with no indication that in these
groups there had been serious differ
ences Of opinion.
Center of Disturbances.
The tenth group. which concerned
itself with miscellaneous" PROPOSE
tions, was that presided over by Mr..
Roth, and was the center Of the two
main disturbances. There we're no
recommendations formulated from its
deliberations.
With reports coming from 50 many
groups, there was noticeable amount
OF overlapping, but it was evident that
little business is committed to the
principle of lowered taxes and less in
reference from Government.
In addition to an omnibus resolu-
ton, which called for financial aid
for small establishments and tax re-
lief, principal proposals included the
following:
Abandonment of efforts looking
toward Federal regulations Of wage
and hours.
Amendment or repeal of the Wag-
ner Labor Relations Act.
Repeal Of the undistributed tax and
modification Of the capital gains tax.
Amendment Of the antitrust laws
to provide increased penalties and an
increase in the appropriations for the
Federal Trade Commission and the
Department of Justice to spur prose-
cutions.
Passage of the Patman bill for q
graduated tax on chain stores, and
rigid enforcement Of the Patman act
regulating chain stores and the Mil
ler-Tydings Price Fixing Act.
Simplification Of tax collection ma
chinery.
Reduction of the unemployment tax
on stabilized industry.
Sound principles for installment
buying.
The various reports which came
from group sessions were to be
whipped into final form by a resolu-
tions committee composed of the COM
mittee chairmen and presented to
President Roosevelt this afternoon.
The move to break the conference
up into regional meetings, collapsed
overnight.
A. B. Comstock of Boston, who with
other New Englanders had proposed
this as more efncacious means of
accomplishing the conference aims.
said this morning that his group had
been unable to line up others and
that 1t was mistake"
The conference went into great de-
tails as to the loan machinery which
Is sought. There were two main prin-
ciples in this, as follows:
"A procedure for the purpose Of en-
oouraging and facilitating loans to
smaller businesses, including pro-
visions for loans on inventories and
accounts receivable on machinery and
equipment, and on buildings, with
provision for consideration Of char
acter as prime factor in conjunction
with the ability to pay.
Conditions Of Loans.
"1naugurate and promote such leg
tslation rs may be needed to accom-
plish such Z program, through the
existing banking system preserving
the freedom Of action and judgment Of
the national and State banks, and pro-
viding substantial protection with re-
spect to the principle of such loans tc
national and State banks, within rea.
sonable restriction. Such legislation
should also provide that loans agains,
fixed assets be subject to retirement
within . period related to the reason.
able life Of the assets acquired ant
that rate Of interest which Will moi
b bur6ensome, but which viii return