Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-11-24
cial nisnatch tn rhe star.

Special Dispatch to The star.
NEW YORK, N. Y, November a.
Mobilization of the Nations best brains
and business ability, backed by vas
sums of capital, insure TO the United
States period Of immediate and sub
stantial activity in commercial fields
reacting to the material benef1t of every
wage Garner, 1t is stressed by executives
| of corporations. bankers and leaders
of business and industry in all fields
whose opinions were obtained today
! In q countrywide survey by The Star
and the New York Herald Tribune.
THE Hoover conference has produced
| the country's most striking exhibition
Of team work since the World War;" 9
New York banker states. Other views
emphasized the effects of the confer
ence an having completely restored
confidence" and of having healed sore
spots caused by an unwarranted and
unprecetiented decline in stock market
prices"
The opinions obtained by telegraph
and by personal interviews follow:
A. r. Giannini, president Trans
America Corporation: THE action OF
Mr.. Hoover in summoning business
leaders of the Nation has resulted In
expressions that helped to establish the
confidence of the people in the strength
and solidity OF American industry and
commerce"
w. b. Storey, president, AtchisOn,
Topeka e. Santa Fe: II feel tina:
President Hoover's conferences have
been reasSuring to industry and that
they will 90 forward with much greater
confidence with projects which other
wise would have been held in abey-
ance because of uncertainty as to the
future"
Lamont du Point, president e. !. du
Point de Nemours & Co.: President
Hoover's conferences have been con-
structive and helpful, resulting in get
ting together facts, exchanging views
and defining weaknesses that exist The
beneficial effects resulting will be the
elimination of the tendency toward I'M
warranted steps urged upon the indi-
vidual through fear and the stimula-
ton of courage in industrial managers
to take only those steps which are con-
structive and helpful"
r. O, Watts. chairman, First National
Bank of st. Louis: Conferences such as
President Hoover is holding with trade
and labor groups will have good effect.
Such cooperation should enable busi-
ness to institute sound measures which
will moderate any tendency toward an
activity A survey of the actual facts
and needs at this time, when depressing
psychological factors are prevalent, is
the sound method Of procedure"
Charles Hayden, Of Hayden, Stone
Co.: "At the present time the economic,
financial and industrial situation is in
the most sound condition that any one
could ask for In my opinion there is
nothing in the recent stock market
break which should in any way deter
the industrial growth and progress Of
this country. Mr.. Hoover's confer
ences are showing to the public that
every one should 60 ahead normally in
the development Of his individual bust
ness"
Thomas N. McCarter, president. Pub
lie Service Corporation Of New Jersey:
The Public Service Corporation Of New
Jersey and its operating companies see
no reason for eurtailing any Of their ex-
panSive plans, as I feel that business is
strong in a business sense. believe
that the action of the President of the
United States is timely and viii result in
unquestioned benefit"
A. w. Robertson, chairman, Westing-
house Electric and Manufacturing Co.:
THE outcome of President Hoover's
conferences is a determination on the
part of Government, business and lahor
to carry on as usual for the very good
reason that nothing was found that
would lead any one to expect anything
unusual except the decline of stock
prices. And business as usual in Amer
lea means good business. General bust
ness is good. except for seasonal let
downs here and there. Labor Is well
and gainfully employed. Money is no.
scarce. In a very substantial way
think the conference satisfied the STOP
look and listen attitude of business, and
now we are ready to go back to work
with enthusiasm and confidence"
Julien H. Hill, president, State Plant
ers' Bank & Trust Co., Richmond:
President Hoover deserves the COM
mendation Of the entire country for his
constructive program in holding con-
ferences with business leaders. Aside
from the tangible results of a gather
ing Of some of the ablest men in the
United States, representing as they do
Varied industrial activities, there are
many intangible advantages in the eff
feet the meetings should have on the
public in restoring confidence in the
fundamentals of business to offset the
state OF mind caused by the unexpected
and sudden recession in stock market
prices. Already, in our judgment, a
measure Of good has been accomplished.
and we believe the ultimate result will
be very beneficial to the country"
Gerhard M. Dahl, chairman, Brook
lyn Manhattan Transit CORPORATION:
President Hoover's conferences have
modified the constructive thought and
energy of business and labor leaders and
OF the public in general His financial
atc viii
Of the recent stock market debacle to
Its necessary minimum economic conse-
quences without the multiplication and
tntenstflcation thereof by pessimism and
fear OF the future. The morale of the
economic army of the country will re-
main unimpaired."
w. r.. Seigle. chairman, Johns Man
Vile Corporations: Every indication
from our offices throughout the United
States and Canada indicates that bust
ness Is progressing as usual, and we ex-
pect good business to continue for the
balance OF the year. Sales for the
frst 10 days of November show a rate
OF increase over last year no less than
our year TO date figure. Sales and
profts In 1929 will be the best in Johns
Mansvilles 20 years of business. Resi-
dental and speculative building has
been seriously curtailed all this wear
! and we believe deflation Of the market
VIII bring cheap money and a renewal
OF building programs. Public confidence
and optimism for the future has been
greatly restored through the able lead
ershlp Of President Hoover's business
| leaders conferences, We are laying ali
our plans for Increased business next
year"
y. A. Campbell, president, Youngstown
sheet and Tube: While business is
quiet at present, We are of the opinion
mat the assembling and cooperation
OF the business leaders of this country