Business: Waldorf Conversion

In the grand ballroom of Manhattan's Waldorf-Astoria Hotel last week took place the year's most spectacular conversion. Having assimilated last month's election returns, 1,800 high-powered U. S. citizens convened for the 41st annual meeting of the National Association of Manufacturers. Loudly they declared that henceforth their aims and those of Franklin Roosevelt's New Deal were to be one & the same.

When U. S. bankers made their peace with the Administration in 1934, the manufacturers stepped into the breach, became the President's most violent non-political detractors. That the Nation's industrialists were now...

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