Evening star., 1938-01-25
LOANS FOR SMALL
INDUSTRIES SEEN
Speculation Revived After
Roosevelt Talks With
EccIes and Douglas.
Bv ]. RUSSELL YOJyNG

President Roosevelts conferences
with William o. Douglas. chairman Of
the Securities and Exchange Com
mission. and Mariner S. Eccles. gov
ernor Of the Federal Reserve System.
this afternoon revived specula ton that
some plan may be expected shortly
to provide Government loans for small
industries.
Chairman Douglas. who has been
studying this subject for some time,
conferred with Mr.. Roosevelt in .he
early forenoon and Gov. Eccles' con-
ference with the President was over a
desk luncheon.
Loans 10 small industries will neces-
state legislation, it is felt by those
who are studying the subject. 1t has
been pointed out that many Of the
small industries have been unable to
finance themselves and that they have
found it Improbable and virtually i'm
possible to float stock issues.
intermediate Credit Bank.
Therefore. Mr.. Douglas believes 1t
would be feasible to set up a Govern
ment agency such as an intermediate
credit bank to which these needy in
dustries could apply for financial help
in the form Of moderate-sized security
issues.
The President also conferred today
with = group Of House leaders on
his national defense plans, particu-
larry for expansion of the Navy. which
he will outline in special message
to Congress shortly. recommending
additional appropriations.
In the House group were Repre-
sentatives Taylor Of Colorado, chair
man Of the Appropriations Committee: /:
Vinson Of Georgia, chairman of the
Naval Affairs Committee; May Of
Kentucky. chairman Of the Military
Affairs Committee; Snyder of Penn
sylvania, chairman Of the Appropria-
tions Subcommittee on Military A.
fairs, and Umstead Of North Carolina,
chairman Of the Appropriations Sub
committee on Naval Affairs.
May Ask Army Funds.
Coming on the heels of the Presi-
dents talk yesterday with Secretary Of
War Woodring and Gen. Malin Craig,
chief Of staff of the Army. this confer
ence created the impression that the
supplemental appropriation bill for
the Navy may include some substan-
tial provisions for the Army. The
President was anxious to obtain the
views Of leaders Of the House commit
tees concerned after discussing this
subject with the Army heads.
The White House announced today
the President would see Gov. Browning
Of Tennessee on Thursday to discuss
formally with him his plan for the
purchase Of all privately owned utili-
ties In Tennessee by Federal and State
agencies. It was pointed out that only
the President and the Governor will
attend this conference, and that on
this occasion they will decide whether
to hold later conference to be at
tended by q large group interested in
this subject.
Senator McKellar. Democrat, Of
Tennessee, who does not approve of the
proposed utility purchase, explained
his opposition to the President today.
After his conference at the White
House. the Senator said he protested
in his own behalf, but he believed 4
large part Of the people of his State
thought as he did about it.
Mrs, DOuxIas9 Is Visitor.
Mrs. Malcolm Douglas, national
president Of the American Legion Aux
iliary, called on the President today to
present to him q set of unusual naval
print china plates pictorially commem-
Grating American naval heroes and
the founding Of the American Navy.
Mrs. Douglas said her organization Is
sponsoring . movement to raise money
to be devoted to the national defense
by the public sale Of plates similar to
the set she presented to the President.
Among the Presidents other callers
were BENJAMIN Smith, New York
stock broker; o. Max Gardner, former
governor Of North Carolina; Senator
0uffey and Gov. Earle Of Pennsyl-
vania and Judge Joseph r. Jackson Of
the United States Court Of Customs
and Patent Appeals. The latter took
this occasion to present the President
with An old ship print entitled "sov-
ereign Of the Seas"
The White House said today the
President Is still working on the spe-
ctAl message he will send to Congress
recommending an expansion Of the