Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-11
BUSINESS LEADERS
CONV|NCEDU.S s. HAS
WEATHERED Storm
Former ST a Year Men Pre-
dict Era of Prosperity for
Nation in Spring.
CONSERVATIVE OPTIMISM
IS THE DOMINATING NOTE
Daniel Willard Sees Readjustment
of Methods and Expenses of
Railroad Systems.

VI mctuOQS anu Expenses VI
Railroad Systems.
Predicting early rehabilitation of
the nations industrial life. leaders of
capital and labor. who are in Wash
ington for the second annual reunion
of the War Industries Board. today
joined in a message Of confidence to
the country, expressed in interviews
to The Star, that an era of substantial
prosperity is at hand.
More than hundred of the nations
leading business men. who served the
government for a dollar a year dur
ing the war. have returned to the
capital from, a years graphing with
peace-time problems. convinced that
the forces which made America indus
trially strong in war will make her
equally secure in peace.
Conservative optimism is the domi-
nant note of the views of these men,
who. without exception. believe that
the clouds of readjustment are break
vealed before many months have
passed.
Daniel willard Hopeful.
Baltimore and Ohio railroad, is one of
the former War Industries Board
members who today stated to The Star
his reasons for believing that the ma
tion soon will be restored ito sound
economical basis.
I'm this country we have everything
we need" said President Willard. 1--WE
have not been crippled by the war.
We have not passed through any dis
asters. We have not lost a million
men. We produce more than any ma
tion in the world; We are the richest
country on earth and have the small
est debt. With all these factors max
for prosperity. what reason can there
be for pessimism?'
The railroads have not felt any
great recession of business and do
not anticipate any, President Will
ard continued. He said that the
amount of business handled by the
railroads in the first week of Decem-
ber showed falling Off Of only 20
per cent as compared with the great
est volume of business done in any
''There 10 no transportation short
age" he said There Is a large BUR-.
plus of box cars and thesSr1llr0nds
are generally able to handle all busi-
ness offered"
CsnsiAer Rates Fair.
Referring to the Increase in rail-
road rates, President Willard said he
considered that the rates had been
adjusted fairly. but that the public
should bear inrmind that this increase
was from so to 70 per cent. whereas
the railroads have stood an increase
Of 400 per cent in their pay rolls.
Mr.. Willard stated that there will
be a readjustmeflt of methods and ex-
penses by the railroads which will
enable them to meet the new condi-
tions. He said the roads will have
as prices go down on materials, par
ticularly coal and steel.
'The Baltimore and Ohio system"
he continued. has placed an order for
SIS, 900 tons of steel rails for next year.
After the first Of the year. the rail-
literally. and their buying program
will be expanded az they adjust them
selves to the new conditions"
T. c. Powell. vice president of the
Erie system, agrees with Mr.. Willard
that the outlook for the Eai1roads is
nations transportation problems will
be made through orderly and satis-
factory processes.
VIII Continue to buy.
THE railroads have been buying
large supplies all along. and will con-
tinue to buy" he said. "The rolling
stock Is in much better condition than
it has been at any time since the war.
and Improvement will continue in this
direction"
Vice President Powell thinks there
should be a revival Of salesmanship in
this country. "Our manufacturers and
business men," he said, have been
content to sit back and wait for busi-
ness. The time has come when we
must get down to work and go out
and sell what we have. The sooner
we realize this the sooner will we re-
turn to normal conditions of pros
perity."
while confident the nation is in no
danger Of industrial etagnation, Alex
ander Legge, general manager Of the
stated that he felt concern for the
farmer who,i Of all the countrys in
dustrial factors, he said, has been hit
hardest by the processes Of readjust-
ment.
, Farmers commodities" said Mr..
Legge, have declined SO per cent in
value in ninety days. This is the
most drastic slump that has come in
any line. It has left the farmer dazed.
Relief will be gradual, but it will
come along substantial and enduring
lines It will come through a broad
ening Of the market for farm produce" :"
Bernard Baruch Optimistic.
Bernard M. Baruch; formerly chair
man Of the War Industries Board.
also talked in an optimistic vein.
Capital usually Is most fearful
when conditions are safest" was his
observation. Capital was confident
when prices were highest and condi-
tions most unsatisfactory. You will
recall that I predicted last spring
there would be break in prices. It
has come and the nation has endured.
think we have passed through the
worst OF our troubles. .Pessimism is
overdone. There is nothing to prevent
the country from experiencing pros
perity."
Hugh Frayne. labor. leader. also lined
message to the country is:
do not try to bring wages Of labor
down, but call for full services. BY in
creasing production we ought to be able
to put prices down and keep wages up''
]. Leonard Replogle, who was difec-
tor of steel supplies during the war,
thinks the nation can look for decided
ly better business conditions by April
or May. In fact he believes the inaugu-
ration Of President-elect Harding will
bring about an immediate feeling Of con-
fidence in the country's commercial
stability.
Urges Railroads to Buy.
sThe rualrcads cnn Materially expe-
dlte the return . normal conditions, -
usid Mr.. Aaplogfe. c( they will 20 into
the market now and purchase to the
limit Of their ability the supplies they
require. This is an obligation the rail-