Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-12-07
BELIEVE MESSAGE
Will HAVE GOOD
EFFECT ON BUSINESS

/, New York, Dec. 6.-Wall Streets ap-
proval of President Coolidge's first
message to Congress was reflected in
higher stock and bond prices and ex-
pressions of a favorable nature from
leading business and railroad execu-
tives. Special emphasis was placed
by all commentators on its clarity.
L. II. Gary. chairman of the board of
the L. S. Steel Corporation. described
it as masterpiece"
THE presidents message" he said,
will be. generally approved. for it is
hon-partlsan, conciliatory. frank and
lar to every section and every inter-
est. 1t is able, clear. comprehensive
ana convincing. 1t will have a good
erect upon business progress. Up to
date Mr.. Coolidge seems to be the
KIND and quality of president that is
needed TO guide the destinies of the
United States under the present COM
plicated and difficult conditions.
NO single sentence is susceptible
OF two constructions" added Mr.. Gary,
who with other executives of the steel
corporation heard the address bv radio
in his office. 1T was not intended to
lnruence the presidential election of
1874. However much influence it may
nave in that election by reason of its
real SOLD value, it does not favor one
polltlcal party or another. 1t is not
antagonlstic to any political party.
1t does not favor capital or labor as
they are commonly designated, nor is if
ahtagonlstic to either. 1t evidences
the fact that Mr.. Coolidge intends
while he is in office. to be the friend
ana the protector of every person and
of every interest without prejudice or
discrimination. The message is strong
by reason of it's simplicity. Another
strong feature of this message to my
mind is that the president undoubtedly
mas Keen. conSiderate conception of
all the pending economic questions,
mas grasp of business affairs. of HUI
man interest and of the wants and
efforts of the general run of people,"
Mortimer l.. Schff, a partner in
. Kuhn, Loeb s; Co.. said:
THE recommendations contained in
it would appear to me to be generally
sound and to form basis for con-
structive legislation.
Taking President Coolidge's recon-
mendations to railroads. as a whole,
properly qualified as they are. | do not
see any cause for anxiety either to
shippers or to investors" declared Rob-
ert ). Lovett. chairman of the Union
Pacific executive committee. Il still
believe that consolidation, while gen
| orally desirable, will prove disappoint-
ing if regarded rs a solution to the
/ railroad problem.
Julius Kruttschnitt. chairman of the
Southern Pacific executive committee.
, said the message "Soems sound from
i every angle" adding that from n rail-
| road standpoint it is fair and very en-
| uraging."
The strong points of the MESA ge
! are the powerful plea for the reduction
of taxation and elimination of special
war taxes. the insistence upon the va
| lidity and payment of the debts owing
to us by continental countries and fair
! treatment asked for the railroads, -
| commented Laurance Twcedy. presi-
| dent of the Consolidated Stock EN-
change. The president shows his po-
litical courage in coming out tlat-foot-
| cdly against the bonus
president Coolidge has outlined n
| very constructive policy" said Hubert
T. Parsons, president of the +. w.
! Woolworth Company.