Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-12-05

to resume their old place as buyers of
lumber, farm equipment, automobiles
| and the thousand articles of Industry
which would thus be aided by a more
secure farm market"
The big business" parley was called
70 order by President Butterworth, who
paid high tribute to President Hoover
for his leadership in the business
| problem.
| AT time when men were pausing
| 70 see II others were pauSing," he said,
the President assembled at the White
House leaders In the several fields of
! american economic life and voiced con-
hdence that through co-ordinated
planning unfounded rumorS could be
made to give way to facts, and fears to
| calm Judgment, so that confidence
might further vitalize the creative spirit
! and high courage, which characterize
American business in. its mood of
| achievement"
Mr. Butterworth explained how to-
days meeting resulted from the White
House conferences, and he asked the
business leaders to continue their CO.
operation lin the public interest"
Many Delegates Spoke.
Following the addresses this morning
and the selection of Mr.. Barnes as
permanent chairman, the conference
| developed into an open forum, in which
many of the delegates spoke optimist-
ically Of the prospects in various fields
of endeavor.
John G. Lonsdale of ST. Louis, presi-
dent of the American Bankers Asso-
citation, and Will Hays, So-called GEAR
| of the movies" were among those who
| reported encouraging trends in bust
ness.
1.-THE beneficial effect of President
! II 1fo,.1
in initiative growing out of them,' Mr..
Lonsdale stated, already are noticeable
| in the Middle West and in other Sec
| tons OF the Nation that have visited
| in the last few days. Public confidence
IN the future is being rapidly restored.
Business is becoming more stabilized
Facing facts and discounting unfounded
rumors, the Nation apparently is setting
to work with increasing energy and
| optimism"
Mr. Hays disclosed that the attend
ance in motion picture theaters today
as compared with one year ago has
increased 100000 persons per week.
or approximately is per cent. He told
of great expansion planned by the
movie industry and predicted still
further increase in theater attendance
during the next six months, due to Gin
creased production of the quality sound
pictures"
Utilities Healthy.
Matthew S. Sloan, president of the
National Electric Light Association, as
serted the utilities of the country were
in a healthy condition and reiterated
that the estimated expenditures for
this group would amount in the next
year to So, o0,000,0o0.
He told of the growth of the industry
saying that over 100000 new domestic
customers were added during 1929 and
that during the last three years 100000
; farms have been reached by electric
energy.
Speaking conservatively," Mr.. Sloan
said, mo business with a more bril-
liant future can be SEEN"
The conference was told by r. H
. Ashton, chairman of the executive
committee of the Association of Rail-
way Executives, that the present finan-
cial program of the class l railroads
of the country for 1880 called for ex-
penditures of S1,O50,000,00O for new
/ equipment and betterments to property
: He said that $370,O00,000 of this
would be spent for equipment ano
: $500, 100000 for roadways and struc-
lures. He estimated that $500 100000
: would be spent during the first six
months of 1880 as compared to $780,
; 100000 in the corresponding period Of
1929.