The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1921-05-28
Return OF
Prosperity
ToBeSlow
Gary, Schwab, Campbell and
Others Participate in Sym
postum Of Captains Of In
dustry.


New York. May 27-aptains OF in
dustry participated in a symposium on
the country's financial future at the an
nual meeting OF the iron and steel in
stutc today.
Elbert II. Gary. chairman Of the Init
ed States Steel Corporation, declared
that patience. courage and fair dis
position would bring satisfactory con-
ditions in due time and that general
conditions were slowly Improving.
Charles NJ. Schwab. chairman OF the
board Of the bethlehem Steel company.
asserted this was n time for encourage
ment. time 10 be hopeful. time to
be optimistic. and tho country would
come out all right.
James J. Campbell, president OF the
Youngstown Sheet Tube company. en-
dorsed Mr.. Schwab'S views. but pointed
out that farmers must receiver more or
purchase less.
The meeting closed tonight with n
dinner and important talks by members
on business conditions.
Judge dAry's Views
New York. May 21.--Full return 10
satisfactory business conditions VIII be
slow until the minority OF business men
and workmen who have ignored the
principles nr common honesty arc
aroused to the necessity or sound ana
decent standards OF conduct. according
,o Eibcrt II. Gary. chairman OF the
United States Steel CORPORATION.
Speaking today before tho American
Iron and steel institute, Nr. Gary. who
is its president said the American poo
pie arc not buying enough 10 supply
themselves fully with the ordinary COM
. forts Of l!fe although they hav" the
disposition and tn" means To do so.
This ne explained. was due 10 the opin-
ion OF the purcha sing public that ther"
has not been complete and proper re-
adjustments Of prices.
There is an abundance oe new bust
ness ne said. with both ability and
, Inclination 10 place It. waiting ro- fur
ther adjustments which will put costs
OF living. selling prices wage rates AID
other genera! incomes on relative par
ity.
"paticnce, courage ard a fair dispo-
sitlon will bring satisfactory conditions
! In due time"
Present steel selling prices Mr. Gary
declared will not permit any reduction
until wages are further decreased. 1t
would b unjust. he said. to further re-
duce wage rates before the costs OF Nv
ing are lowered.
Retail Prices TOO High.
Retail prices for many commodnie 3
arc much too high. declared Mr.. Gary,
adding that without justification voIE-
mems wages have been advanced through
recla sification so as to designate thSh
as skilled men" 81 thinX," no continued.
there have been and still arc CHARGED
and collected for. certain commodities.
4 ~ o.
tomato prices" These apply TO paru-
cular lines and persons.
The public is aware Of the facts.
Different products hayo been purchased
from the farmer. manufacturer or others
at low costs and then passed on IN one
way or another and finally sold to the
consumers at outrageous prices.
The vast majority or business men
and workmcn are sincere and fair but
there is and perhaps always Will be
common honesty. They are sufficient In
number 10 seriously effect the whole sit
uation."
He urged that the observance and en-
forcement Of law be insisted upon
throughout the world as a necessity TO
the improvement OF the general s!tua-
tinn.
IF laws shall be enforced and peace
maintained" added Mr.. Gary. the other
questions relating to economic progress
and achievement will be solved.
III II should be deemed necessary ana
wise to have governmental supervision
over organized Industry In order 10 pro-
tect the public interest I personally
would not object. provided the laws and
rules shall apply alike to organized cap
ital and organized labor
The speaker asserted that ono OF the
most hopeful signs OF the times was tho
apparent disposition Of tho present nd
ministration at Washington to aid
rather than obstruct the natural and
legitimate progress Of business.