U.S.A PRESIDENCY

Greymouth Evening Star, 25 August 1928, Page 11

U.S.A PRESIDENCY

MR. J. J. RASKOB’S POSITION.

There has been considerable speculation in America as to how far big 1 usinfess lias been interesting itself in Hie Presidential campaign. It appeared at one stage as if General Motors Corporation was likely to become involved through Mr John Raskob, Chairman of the Finance Committee i nd a member of the Executive of that Corporation accepting the appointi lent of Chairman to the National Democratic Committee. A statement re-, cqntly issued by Alfred P. Sloan, Jnr., President of General Motors Corporation is therefore of interest..

"The resignation of John J. Ra&kob, Chairman of our Finance Committee, has been under consideration and it being to the interest of both the Corporation and Mr Raskob to accept the same, Jhis has been done with the greatest regret oil the part of the entire Organisation. The attached cprresflbnd'ence states the facts in the case. ■ , ,

“ “Alfred P. Sloan, Jnr., President General Motors Corporation, • New York. Dear Alfred, —1 am tendering you herewith my resignation as Chairman of our Finance Committee", as a member thereof and as a member of the Executive .Committee, effective aS of the date thereof. In the first place I find that the duties imposed upon me as the Chairman of the National Democratic Committee are .such as to take all of my time and effort during the ensuing Presidential campaign. Moreover it is desirable for the public to know, as everybody in General Motors should appreciate, .that the Corporation is not, and in the nature of things cannot be in politics. While all of its officers and employees are, of course, .entitled to their individual political views, the Corporation must not be put in the. .light of taking sides for or against political parties, personages or questions. Lest, therefore, there should' be the slightest misapprehension in the public min'd on this score, and in order to enable mo to devote all of my energies free from any restraint to the very arduous political duties which I have assumed, I am asking to be relieved of all of my duties in connection with the Corporation’s affairs.”—Sincerely yours, John J. Raskob. “John J. Raskob, General Motors Corporation, New York. , Dear John, —I beg to acknowledge receipt of yours, of July 23, tendering your resignation as Chairman of our Finance Committee, as a member thereof and as a member of the Executive Committee. In view of your conviction that your duty as the Chairihah of the National Democratic Committee will monopolise your time during the. Presidential Campaign and on account of the importance to the Corporation as well as to yourself 6f making it unmistakably clear that the Corporation takes, no part in political affairs, we are constrained to accept your request to be relieved from all of your duties in connection with the Corporation. It is the unanimously expressed hope and expectation that you will resume your duties after the Presidential campaign is over. On our part as a Corporation we recognise the necessity of always keeping clear of politics which is no concern of ours, at the same- time recognising to the full the right of all our officers, employees, dealers and stockholders to take their individual stand on political question as they think best.” —Sincerely yours, Alfred P. Sloan, Jnr.