The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-11-28
Optimism Rings Loud, With
Pledges of Billions for
Business Expansion.
STOCK B0GIE ROUTED
Federal Departments Join
Private Industry in
Forward March.
BY LAWRENCE SULLIVAN,
United Press stan Correspondent

WASHINGTON, Nov. 23.-Ameri-
can business paused for its annual
Thanksgiving today with pledges
OF more than $9,00O,0 100000 in con-
struction and expansion under the
turkey platter
1t also has the promise of cheap
er money from the federal reserve
advisory council, an agreement be-
tween capital and labor assuring
maintenance of present wage lev
els and the word of more than
800 of the foremost leaders of in
dustry and commerce that both
production and buying will continue
at high levels throughout the
winter.
Looking back on the series of
White House conferences aiming
at the uninterrupted forward march
of prosperity, President Hoover
feels the country has achie"ed an
other step more encouraging even
than the figures which tell of the
expansion plans for 1880, in that
the business world has freed itself
from the psychological domination
of the stock market.
Prosperity Is Forecast
Seated around the conference
table in the cabinet room, leaders
in every branch of commerce, agri-
culture. and labor discovered the
underlying economics factors which
forecast prosperous times.
The national business machine is
primed for progress and prosperity,
labor has cleared the track ahead,
and the banking world has assured
ample fuel in its pledge of reason
able money rates.
Although hundreds Of kilograms
and letters have given the chief
executive most gratifying national
reaction to the recent conferences.
he confidently expects even greater
results from the meeting of in
dustrial leaders here on Dec. 5.
The InduStrialist's committee,
headed by Julius Barnes chairman
of the Chamber of Commerce of the
United States, will report then on
its nationwide canvass of business
plans within the commodity trades.
The President plans to address this
gathering.
Hoover Sees Lenders
In his recent conference. Presi-
dent Hoover has met with keymen
of railroads, public utilities, farmers,
labor, the banking world, the major
manufacturing industries and sup
ply associations.
The President has ordered all
branches of the government to lay
their plans for a steady forward
march in building programs.
The war department already has
responded with a program for eX-
panion of it's housing program in
1880, and Postmaster General
Brown, in behalf of a special inter
departmental committee, has an
nounced a foreign mail contract
policy which is expected to call out
some $200,000,000 for development
of the American merchant marine.
The treasury department will
push Ito publAC OuA4ulAlSS PAO6I d4Ai
both in the capital and throughout
the nation. The commerce depart
ment will continue its quest for new
trade opportunities abroad.
Oppose Wage Cut
Both governmental and private
organizations have pledged them
selves to stand against any reduc-
ton of wages. A general wage in
crease policy has been announced by
Henry Ford. Representatives of
every branch of the industrial or
ganization have assured the Presi-
dent their cooperation in main
tenance of employment.
Governors of practically all states
have indicated their determination
to stand against any slowing up in
their plans for highways and public
works.
Public buildings and highways
alone assure more than $4,000 900 900
worth of construction in 1880, ac-
cording to the reports from the
White House conferences.