MR ROOSEVELT'S PLAN

Press, Volume LXIX, Issue 20961, 15 September 1933, Page 9

MR ROOSEVELT'S PLAN

ENTHUSIASM IN NEW YORK MANY OBSTACLES STILL ARISING PRESIDENT'S ATTITUDE FIRMER VCMiiKa rp.r.ss 4»sociAii'm—or I T.l EGHJ.PH tOPTRIGin .) (Received September 14, J 1.26 p.m.) i NEW YORK, September 13. ! New York observed a National Recovery Act holiday to-day, as more than 1,000,000 spectators applauded 250,000 marchers who streamed ■up Fifth Avenue in a great procession for more than 10 hours. It was late night before the last marcher passed the reviewing stand. Thousands of banners proclaimed the success here of the Roosevelt recovery programme. A few attacked Mr Henry Ford, and urged that no more of his motor-cars should be purchased until he had signed the code. General Hugh S. Johnson has indicated that he intends to allow the Ford situation to remain as it is. He stated that Mr Ford had not yet actually violated the code. If he did, action would be considered. Meanwhile, in Washington, Mr Roosevelt's attitude appeared to be stiffening. He made an important executive order clarifying the petroleum code and again threatened punitive action against the bankers and coal operators. The technical price-fixing pro- ; visions of the petroleum code have been abrogated, and in their place Mr Roosevelt assumes the power personally to l'ix the minimum wholesale and retail prices ol petroleum and its products. I itordered the incorporation of all retail dealers in petroleum and its products under the original code.

Banks Threatened. As an indication that the banker:-, had not fulfilled his earlier plea, the President announced that tlie Government was considering making direct loans through the Reconstruction Finance Corporation to industries working under codes to meet their increased pay rolls. However, he added, tne Government was anxious to co-operate with tiie banks if they were willing to perform this service. The deadlock in the negotiations over the coal code continues. It is estimated that at least 30,000 miners are out of employment in Pennsylvania. It is now revealed that an over-production crisis exists within the industry, and may nullify the National Recovery Act even if a code is agreed upon. The railways, utility companies, and other large consumers have been storing great quantities of coal in anticipation of higher prices, and it is feared that increased unemployment in the fields is inevitable.

CODE FOR RETAIL MERCHANTS ADMINISTRATION'S MOVE OPPOSITION EXPECTED (Received September 14, 11.39 p.m.) NEW YORK, September 14. The Washington correspondent of the "New York Times" says that the National Recovery Act administration has drafted a master code for retail merchants, including pharmacists, which it hopes will replace the unsatisfactory one presented by the dealers on August 24. It includes an effort to eliminate severe pricecutting. It is expected that the code will meet much opposition from large New YorK department stores, not only because of its price control features, but because of its elaborate provisions regulating advertising.