New Britain herald., 1929-12-17
BARNES OUTLINES
 BUSINESS SURVEY
Message Broadcast to Europe for First Time in History

minute transatlantic sales talk. the first one in history, was made yes terday by Julius II. Barnes, head of the executive committee of the Ma tional Business Survey conference.
 Barnes voice. as he reviewed bus mess conditions in America. was car ricd over a network Of the National Broadcasting co. and was rcbroad- east hy station WGY. Schenectady over its short wave 10 London. Thera tho British Broadcastiug Co. carried the message throughout the British Isles.
 His statement was made at the specific request of the London Daily Express and the United Press asso- citations.
 Only Brief Halts
 "The progress of America can be halted only for brief spaces, if at all," said Barnes, after reviewing the recent stock market decline and the Intervention by President Hoover to stimulate business conditions.
 "It is the earnest wish of all Americans that out of our natiOn- al experience. out Of even the suf- fering and loss occasiOned by the correction Of national enthusiasm eN- cesses. we shall ourselves learn the methods of progress with stability, and that we may contribute some thing helpful to other peoples as well"
 Barnes spoke from q room in the T. s. Chamber of Commerce whose board he heads.
 The complete text of his short talk follows:
 "The year 1929 will prove 10 be almost without exception through all industries the most active and prosperous year in their history. As late as for the month Of October the majority of American industries were making new high records of volume of earnings. Employment was good and high level of wages maintained by efficient production per worker. Industries which had been tagging were recovering, such as oil which by voluntary organiza- ton and cooperation with state leg islation has attained measurable stability after a long period of de liberalization.
 a "Coal was better in spots and tex tiles somewhat improving. A major influence was G more prosperous agriculture with index comparison showing that it had reached a praC- tical parity with their industry, this aided by a steady rise in the table standards of our city populations There was constant expansion of the number of stockholders in in dustrial nterprises-indivdua ac- counts in our savings banks had risen to fifty-fiye million people, while life insurance in a continual rise of favor as a savings medium had reached siXty-ftve million policy holders and exceed one hundred billion dollars of open life contracts.
 People Entered sock Market "On this extraordinary showing of prosperity and progress. the natural enthusiasm as always of all new pcO- pies entered the stock market on q vast scale. There is now a general opinion that the level Cf aycra ge stock prices rcacl I. more than dis counted the pro. At though inrreas- ing earning poW,r of American in dustries. After some mortha' hesi- tation developed in the stock market and tlen declining tendency which Ggain with c.'ccsSiVc c%"h rance, ran into demoralization. No such shrink- age in va'1es co T take place with out affecting a great many people either with actual or paper losses.
 Prom this 'tuaiion cam" tho Gmgcr nat the spirit of confident enterprise in the conduct of every dly business would be affected ny t'midity and hesitation. lcrc were grs early in November that this tight be q real menace. The presi- at of + Uni I States acted Tron9ptly. Business leaders were call, Cl into consolidation with him. Fron these conf renccs came the "N aordinary an signticar action by which president cf the Unite, States stat that the organization O business had dey 'opcd in merle. to q point which rendered if ar Immediately available agency. itself for mobili ing the forces of business stability. Ii is h.. ..e@t that no suci action could be ta.en by prcsi dent and be received with the mani