The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-11-27
Confer With President on
Expenditures Involving
Billions.
REC0NDITI0N SIX SHIPS
Export Increases Loom;
Hoover Now Ready to
Step Aside.
BY RAYMOND CLAPPER
United Press staff Correspondent

WASHINGTON, Nov. 27.-HeadS
OF the nations great utilities repre-
senting billions of dollars in street
railways, gas and electric power
plants were invited to confer with
President Hoover today to lay be-
fore him their program for assisting
in the general stimulation of bust
ness activity in the coming year.
Utilities are expected to spend
nearly $4,000 100000 on new street
cars and tracks, and gas and cleo
trio plant extensions providing con-
struction and machinery work IN
dozens of localities which will give
employment to thousands.
This gigantic program will supple
ment the billions in expenditures
planned for railroads, roads, public
buildings and shipbuilding as out
lined in the series of conferences
which President Hoover has held.
It practically completes the PreSi-
dents share in aiding business to
gain momentum. The federal gov
ernment is assisting in addition by
pushing down interest rates on both
industrial and agricultural working
capital.
Last Scheduled
After today's conference the last
now contemplated, the President
will prepare an address to be deliv-
cred at the general conference OF
business men under the auspices OF
the United States Chamber of Com
merce here Dec. 5, when business
will take over the responsibility of
carrying the Presidents program
forward.
President Hoover is highly gratl-
fed at the response his efforts have
evoked throughout the country. But
it is his hope now that the White
House will be able to turn over the
responsibility of carrying on to
business itself.
The President feels that the prob
lem essentially is one for business
to work out. He was glad to throw
the influence of his office into the
situation as a means of bringing out
the underlying facts of the situa-
ton. But the continuing activity
necessary to push through must, he
feels, come from business.
Utilities heads invited to today's
conference include:
Many in Attendance
Owen c. Young, chairman Of the
board of directors of the General
Electric Company; Samuel insult,
Commonwealth Edison Company,
Chicago: Charles L. Edgar, Edison
Electric Illuminating Company. Bos-
ton; w. A. Jones, vice-pres- dent
Cities Service Company; John B.
Miller, Southern California Edison
Company. Los Angeles; Guy A.
Richardson, general manager Chi
cago Surface Lines; N. B. Sloan,
president New York Edison Com
pany; Paul S. Clapp, National Light
Association, New York; J. N. Shana-
han, Omaha 81 Council Bluffs
Street Railway Company, and J. P.
Barnes. Louisville Railway Com
pany.
Expectation of additional exports
during the coming months was re-
vealed by the United States ship
ping board today.
Recondition Ships
I'm anticipation of substantial in
creases in the movements of grain,
cotton and flour from gulf ports to
Europe during the next several
months, the shipping board has au-
thorized the reconditioning of six
steel cargo steamers now in layup,"
an official announcement said.
These ships, to be ready within
sixty days, will be reconditioned at
q cost of $414,000.
The federal reserve board reported
today that industrial activity in Oc-
tober continued at higher level
than a year ago and retail sales were
sustained. In addition, the board
reported that money rates declined
throughout the period.