“OIL” SCANDALS

Greymouth Evening Star, 23 March 1928, Page 7

“OIL” SCANDALS

REPUBLICANS FRIGHTENED MAY LOSE ELECTIONS (Australian & N.Z. Cable Association.) (By Cable—Press Assn.—Copyright.) WASHINGTON, March 22. With the trail of corruption and dishonesty, apparently broadening every day, tire oil investigations continue, and the promise that Mr Fall is now ready to tell all on the question of malfeasance of office may radically alter the character of the Presidential campaign, which is becoming the most uncertain in the present generation of American politics. Republicans in 1924 were frankly surprised at the oil investigations, which in no way embarrassed their Presidential aspirations, and when the Democrats re-opened the oiil investigations a few months ago, some Republican leaders boasted they “would not change a single vote.” But the revelations of the past few weeks have apparently not left a single prominent Republican individual untouched.

The assertion is even being made that Mr Coolidge “benefited from it all.” It is moreover only too obvious that the Republicans now lack a central figure around whom to rally such as Mr Coolidge in 1924. His third pronouncement seems further to strengthen the belief that he will not run - again, and the bitter sectional feelings and enmities that bis personality kept below the surface are now clearly cutting cleavages in the Republican ranks. The Republicans are frankly frightened. Senator Robinson, of Indiana, yesterday launched an attack on Governor Smith in an attempt to show the Democrats themselves are not free from the oil taint. Senator Robinson alleged that Sinclair, who is a noted racing man. was appointed to the New York Racing Commission several years ago by Governor Smith. Democratic senators came to the support, of Smith, while Robinson was unsupported by ony of his Republican colleagues, and shouted “birds of a feather flock together.” The Republicans, in facing charges of corruption, are hampered by disunity. They are hardly likely to keep the campaign at a high level, and enraged by the onslaughts of the delighted Democrats, their campaign is not an appealing spectacle, or one likely to he clearly understood abroad. Conditions in the Democratic Party are also too good, since their traditional inability to agree among themselves is still alive to-day. There is, however, a drift toward forgetting differences by reason of the fact that the Democrats see their chances to attain more to-day are brighter than in many Presidential years. It is interesting to note that Senator Harrison led the defence of Governor Smith yesterday. Mississippi, which Harrison represents, has been notedly anti-Smith hitherto. It is too early, however, to predict the Democrats can overnight become a unified ’party, but above all these considerations remains the fact that the American people will during the next few months be treated to a spectacle of muck raking on an unprecedented scale. .

* WALL STREET DEALINGS

NEW YORK, March 22.

Tremendous trading continued on Stock Exchange, sales reaching 3,927,600 shares, which is the second largest day in the history of the Exchange, and hut slightly under the four million share day reached on March 13. Heavy buying continued in such issues as the General Motors, General Electric and Hupp Motor, all reaching new peaks, but the upward movement has been definitely arrested in the late dealings when heavy profit taking caused large recessions from the high levels in a. long list of issues. This is the tenth consecutive day when over three, million shares have changed hands. LATER.

It transpires that to-day broke the record, with the sale of four million seven thousand three hundred shares. This is the first time more than four million shares have been sold in one day in the history of the Exchange.