Washington, Jan. 22.
The conversations which were held recently at the White House between Mr. Adolf Perle, one of the leading New Deal advisers, and various prominent industrialists, will be followed up shortly by consultations between the President and financial and economic leaders Despite the President's insistence abolition of holding companies, well-informed circles here are of the opinion that the atmosphere is maag in a greater degree for a eneral compromise, with President Roosevelt agreeing to yield to the demands of the business leaders in he matter of lowering the tax on undistributed profits, while the indus-rialists would accept the principle of economic regulation by means of legislation inspired by the New Deal severe form.
Mr. John L. Lewis, Chair-an of the Committee for Industrial Organization, may agree to moderate temporarily the claims of the working class.
It is believed that both parties will recognize the fact that the problem of an increase in production should precede all others owing to the importance of increasing national Thus, without abandoning the programme of social reforms, the Administration seems to be determined to do all in its power to obtain the effective collaboration of business circles.
Among the prominent business men attending the talks at the White House were Messrs. Thomas Lamont, representing the banks, Owen D. Young, president of the General Wlectric Ca. and Charles Taussig, president of the American Molasses Ca., Messrs. John L. Lewis and Philip Murray represented the CIO—Pavas. cent, and some as much ins 75 per cent. The standard tariff on piece-goods has been cut from 50 to 60 per cent, of which the duties on woollens are reduced by 45 per cent. and artificial] silks by nearly 75 per cent. The duties on metal wares are cut by half, and those on fish products and fish, all of which are supplied by Japan, have been cut by 40 50 per cent.
The tariff on all cereals is now 5 per cent ad valorem, compared with the former 15 per cent, while the duties on all kinds of sugar have been cut by approximately 75 per cent. The duties on gasoline, in some cases, have been reduced from 21 gold units to 1.6. The tariff on sawn wood and timber hes been cut by 50 per cent ad valorem to 25 per cent, while that on cement has been reduced by more than 75 per cent. The tariff on rubber boots and shoes has been cut by one-third and that on rubber tyres by two-thirds.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.