New Britain herald., 1929-11-20
OPTIMISM RESULT
 OF HOOVER SCHEME
Railroad Men to Confer With
 President on Business

Washington. Nov. 70 LP--A more optimistic psychology, induced by the prospect of easier credit condi- lions and extensive railroad, ship yard and governmental contraction. was forseon today as tho first prod net Of President Hoovor's program for increascinG the stabilizinE Amer ican prosperity
 Those close 10 the administration looked forward 10 q prompt and beneficial reaction from the chief executives conferences with the presidents of the great eastern rail roads and bankers from all sections of the nation and from assurances Of large orders for railway and ma rine equipment that have grown out of Mr. HooVcr'S campaign in tn" few days that have elapsed since the original announcement Of his plans.
 Owing 10 the funeral of Secretary James W. Good of the war depart mcnt, Mr. HooVer'S schedule Of con ference with the leaders of American Economic Endeavor was postponed until tomorrow, when there will be discussion of what tho manufac- turing and industrial field can do to advance his plans.
 Through the operation Of mail contract awards and loans from the $25Q,000.0O0 fund established by the JOneS-White law 10 assist in the cX- pansion Of the merchant marine, the administration expects the ship yards 10 be humming with activity within the space of siy months.
 Plans Announced By Brown
 Plans 10 bring this about Wcr. announced late yesterday by Post master General Brown. speaking fo. the inter-dcpartmcntal committee oU ocean mail contracts
 Contracts will go 10 tho lo~..' bidder, Mir. Brown said, and tl, construction of q total Of 4o ner large and fast vessels is planned l., companies which have indicated au intention of submitting bids.
 Tn all probability. " the postmas ter general asserted "another Si months will s"c the ship yard capa, i iLs pA llit 'ChiAtiN NpiII ll1't' lN IIlIf '' | Mr. Brown revealed that new l;i 1 CTS for the North Atlantic service ct. timated to cost approximately $25. 1 0oo,000 and planned and with vr- ! SelS contemplated for other rOut, 1 which will be tho la~t word in mos crn marine architecture and engir i cering
 From tho Jonos-Whito fund r. constructing Companies can borro% at low interest rates uD 10 T5 l'' cent of the amount 10 he oxpent : for new tonnGgc. Tho fund is a' ministcred by the shipping bou; and the navy department
 But while contract awards arc : go to the lowest bidder. a degroc z favor is 10 b" extended 10 thos~ c0' panios which contemplate immcdia construction.
 It Wae pointed ont that thc pro, p"Ctive marine construction shoL' mean much to many branches ( American commerce. through t.. variety and cXtonsivence5 of tho ar. ticles which go into the makn~ z a modern ocean liner. These inclr[ such widespread needs as stoi. plumbing fixtures. electrical aDpI anccs, upholstery, draperios 2" furni@hings and fittings of all kinf.
 Mr. Hoover yesterday cOnfcrr .- with the railroad presidents and {" members Of the advisory council the federal reserve board. and r. cofved assurance Of the support ( the transportation chi"ftans and i~. dications Of prospective decreases ir collateral rates through a reduction in the rediscount rates of all the federal reserve districts.
 The construction plans and pros pective equipment orders Of tn,
 railroads was outlined to the chic
 executive and estimated 10 aggregate
 considerably more for the next si,
 months than for the corresponding period q year ago.