The Waterbury Democrat., 1938-06-09


 Eccles' plan was to have Roose- velt shoot special message to Congress asking it to sit one more week in order to consider the ominous rail situation.
 Eccles based his worried plea on the ground that unless the government steps in immediately, a number of major lines will go into bankruptcy within a few months. This would gravely af- feet the slowly reviving business picture, possibly with serious po- litical repercussions in November.
 Another bad economic upset, Eccles argues, would be disastrous to the Administration. .
 Other Presidential advisers concede this, but differ with the Federal Reserve head on the desirability of trying to prevent the railroads from going through the wringer". They argue that this would be the best possible thing both for them and for the country; that it should have been done long ago.
 They agree with Eccles that the process will be painful, but they differ with him that it will seri- ously affect business as whole. They content that the value of rail securities has depreciated so much during the past eight years that. it will make little difference to investors if the lines go into receivership.
 These White House advisers be- lieve the roads should be forced to purge their fiscal structures, then start anew on a firmer foot ing.
 Rocker
 Justice Hugo Black is the "rocker" of the Supreme Court in more sense than one.
 He not only pioneers his col- leagues in left wing dissents-prob- ably shocking some of them-but he is the only member of the bench who consistently rocks back and forth in his high-back chair during sittings. This is an old habit of the Alabaman. As a senator he constantly rocked in his seat.
 A friend joshed him about this, saying that it made him nervous to watch Black.
 "That's easily solved" retorted Black. Don't watch me and you won't get nervous. I like to rock when I'm concentrating. I got in that habit when I was a boy tending country store and played checkers between cus- toner's"
 Dangerous Error
 Secretary Henry Morgenthau nearly got himself into hot water with his Tennessee mountaineer cabinet colleague Cordell Hull, the other day.
 Asked at a press conference whether it was true that U. s. business had suffered as a result of the recent depreciation of foreign currencies, Morgenthau re- piled that on the contrary the one bright spot in the business picture was export trade.
 "Our favorable balance" he said, "is now around $100,000, ,0O0 a month. I attribute that di- rectly to the stability of the dol lar, which is due to the opera tions of our 5000, 100000 sta bilization fund.-"
 What about Secretary Hull,s much vaunted trade agree ments" inquired reporter. Seems to me he claims that they are responsible for increas- ing our foreign trade"
 "Oh, yes, yes indeed" ex- claimed Morgenthau. "I am very glad you called that to my at tention. You may say that three factors are responsible for our favorable trade balance: the re- ciprocal trade agreements, the trlpdrtlte monetary agreement (between the U. S., France, and England), and the stabilization fund.-"
 Condolences
 Here are some remarkable CO., 1ncidences under the heading: "The President is not interfering in primary contests"
 l. On May 31, White House Secretary Marvin Mcintyre spent the day in Atlanta, Ga, for the ostensible purpose of receiving an honorary degree from the Atlanta Law school. Next morning, a few hours before the deadline for fil- ing nomination papers expired, Lawrence Camp, 45-year old U. S. attorney, announced his can-