The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1908-05-29
DETROIT BOUND TO
Be | INDUSTRIAL
CENTER
&C. M. scHWAB,
STEEL MAGNATE PREDICTS
GREAT FUTURE FOR THIS
CITY GREAT PROSPERITY
WAVE COMING, He SAYS.
&C. M. scHWAB,

Optimism marked the speech OF
Charles NJ. Schwab. former president
OF the United States Steel Corpora
ton. at the banquet Of the Interna-
tional Master Boiler Makers associa-
ton In the Pontchartrain Thursday
night.
This great country. which leads
in industry. Is bound to go ahead IN
spite OF this temporary depression;
nothing can stop IT," he asserted.
THE steel trade is regarded by bust
ness men generally as the barometer
OF trade. The depression in the steel
trade has been the greatest in the
memory of living man. But. as great
as was the disturbance. the reaction
will be even greater. Just SO quick
will be the wave OF prosperity"
He took occasion TO make a predic-
ton in regard to the future Of De-
troit also.
From my study of the industrial
situation, | would say that Detroit
and other cities similarly situated on
the lakes are bound to be the future
manufacturing and Industrial centers
OF this contry," he said. THE energy,
hospitality and charm Of Detroit =
citizens will make any industry To-
Gated here successful"
In opening, Mr.. Schwab talked for
time OF his earlier days. Of the days
when the sound of the whistle was an
20
ingman, and later when 1t was well
come one.
There Is no time In life SO sweet
as when you are doing something In
the workshop" he said.
He declared that the people OF the
United States demand the best and
not the cheapest things and said that
employers In trying for economy
should never sacrifice quality. Speak
ing OF the laudable ambition OF every
American to advance and do better,
he declared that 1t Is the possession
OF the ability to do work little bet
ter than others which determines the
success OF such endeavor.
Whether you will be millionaire
depends on yourself" he said.
Jack" Duntley. president Of the Chi
cago Pneumatic Tool Co., who had
risen from a position In the shops.
I'VE will get industry first and art
later" was another remark
In 1880, when | first became con-
nected with the steel business, this
country made 100000 tons OF steel;
in 1890 this had risen TO 100000 tons
and in 1907, 1t was 25,000.000 tons
predict that In ten years this coun-
try will produce 40,000O00 tens, and,
when II does, the railroads and mines
will not be able to supply 1t fast
enough"
Three hundred persons sat down 10
the banquet. which was given by the
Chicago Pneumatic Tool Co. The
menu was an elaborate one and music
was furnished by an orchestra and
the Clipper quartet, which made big
hit. Schwab took occasion to send
a message OF approval to the singers.
j. F. Duntley. In charge OF the en-
and father OF j. w. Dunt-
ley. president of the Chicago Pned-
matte Tool Co., was presented with a
gold-headed cane. and George Wag-
staff, the retiring president Of the
Boiler Makers. was presented with
handsome badge.
Geo. T. Moody made farewell
speech In behalf Of the Board Of Com
merce and Secretary Wright OF the
association, expressed thanks for the
warm welcome received here.
At the closing business session OF
the convention P-J-Conrath,r of st.
Louis. was elected president. n. d.
Vought, New York, was chosen Sec
rotary and Frank Gray, treasurer.