The Washington times., 1929-11-27
]. s. RESOURCES
NOW BEING
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tive plans which might have been
postponed to an indefinite future
date in the absence Of concerted
action such as has been brought
into being by the meeting Of the
master minds at Washington.
Will Spend Billions
Briefly, the contemplated pro
gram, funds for which are de-
finitely in sight, covers the
following ground:
/. An aggregate expenditure Of
81, 100, 900, 900 by the American
railroads for needed equipment,
duplicating If not surprising the
largest annual outlay for this
purpose in the history Of Amer
ican transportation.
Prominent contributors to this
expansion program are the
Chicago mad Northwestern rail-
road, with an outlay Of $70,000,-
900 for new engines. cars, tracks,
etc.; Southern Pacific. with $50,-
OOO, 900; New York Central with
$50 900 900; Pennsylvania railroad
with 100000, 900; Rock Island
$50, co. 900; Atchison, with an
estimated expenditure Of $40"
0O0, 600; Great Northern and
Northern Pacific, $50, 1000, 1000 each.
2. Special residential construc-
ton and improvement, involving
a total expenditure Of $4,000
900, 900 from funds made avail
able in large measure by the
release of three and half billion
dollars from the call loan market.
This by no means covers the
whole field of construction,
which in 1880 will reach a total
of $4,000 900, 900 if it does moth
ing more than equal the record
of the last two years.
Highways Are Pledged
3. Pledged expenditure of ST.
000, ,000,0 900 for State highway con-
struction and an equal amount
for country roads and city streets.
New York City will be represented
to the extent of 100000, 900;
Chicago is drafting plans for a
81 100000 municipal improvement
project and a score or more of
prominent American common
wealthS will make their contribu.
ton to the aggregate.
4. Specified expe end t ure Of
$3.50, 100000, some of it long de-
ferred, for the expansion Of
American utility concerns supply
ing light, heat, power and other
essential services to the people
of this country. Pacific Gas and
Electric Company is ready to
appropriate $5,000,0O0 for work Of
this kind; Standard Gas and
Electric Company, $63 900, 900;
Utilities Power and Light Com
pany. $60.000,O00. and New York
Telephone Company we'll in ex-
cess of $150,000.000; Common
wealth and Southern, 10000 900.
S. A 100000 outlay for
the enlargement of producing and
manufacturing facilities of the
giant American corporations be-
tween now and the end of 1890.
The American Telephone and
Telegraph Company sets the pace
with budgeted, outlay of S700..
100000. The steel industry as
whole will spend $500 100000; the
DUPONT enterprises, $4,000, 900.
To Build Ships
6. A Federal Shipbuilding pro-
gram of close to $3.50 0,000,00 over
10-year period, with annual ap-
preparations in addition for spe-
cific Government service, includ-
ing the transportation Of the
mails. of $25,000,000; a Federal
road-aid fund of $125. .000, 900 to
be appropriated among the vari-
Gus State road-building bureaus.
The projects listed above take
no account of the thousands OF
large and small enterprises con-
Quoted with more or less prompt
ness by individuals and corpora
tions throughout the country.
They have been specifically un'
earthed the inspiring conferences
of industrial and financial lead
ers sammoney by President
Hoover in response to the general
feeling that special efforts we're
necessary to combat the paralyz-
ing effects of a fearful cataclysnl
in the stock market
Skillful execution Of the plans
will provide employment to thou
sands of workmen, and energi2e
the industrial fabric of the whole
country. The industrial utlook
!; is brighter than it was month
ago.
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