The Washington times., 1929-12-18
HOOVER POLICY
IS WATCHED
CLOSELY

The policy of the Hoover admin
Istration regarding business gem
orally is under constant scrutiny
BY financial leaders here, it was
learned today from number of
internationally prominent finan-
ciers.
It is their opinion that the
policy will act as the savior Of
business, which was sorely hit by
the recent stock market crash.
They pointed out that President
Hoover's calling Of conferences
between large industrial headers
had acted as stabilizing influ-
ei1ce upon business and CONNER
cial interests throughout the
whole country.
With the Administration stand
ing directly behind a stupendous
building program and road en-
largfng propect, these leaders say
that commercial interests will be 4
able to weather the storm which
they were affected due to the
crash Of the stock market re,
Gently.
All Fan In Line
Practically all large corpora
ttonS have fallen in line with the
policy Of the present AdniniStra-
ton, it was pointed out by the
financierS.
Those interviewed concerning
the effect of the Administrations
program said they did not anti
cipate any direct results from it
for at least six weeks more, but
that at that time it should have
noticeable effect on general
conditions.
1t was shown that the DOGGY"
Of q market crash had now been
swept away and that, although
the exchanges were Still rather
shaky, their recovery was i'm
ninent.
Determining factors In the sue
cess of the policy of President
Hoover, it was explained, are
what steps the States win take
In supporting the policy Of the
Administration and to what ex-
tent national financierS viii 60
to aid 1T. Another factor which
Is especially important is that of
the interest of the working classes
throughout the entire nation. IT.
was declared that If the working
classes swing into line on the
policy, the slump which has been
eating at the heart of American
business win be broken.
They Must Follow
Explaining that some Of the
States, due to political difference
with the Administration, viii not
swing into line, the bankers
anticipated that the greater ma
I 5Ofity would follow the lead Of
the Federal regime. National
I firanciers viii have to follow the
lead Of the Government, it was
shown. That places the entire
question up to the working and
smaller salaried classes OF the
country.
Offices in the main office of
the American Security and Trust
Company are il, the process Of
1 REIMBURSEMENT. President Cor
4 coran Thorn has moved into the
office once occupied by the late
Charles .. Bell, former chairman
Of the board, while Howard
Moran, vice president Aof the In
stitution, is occupying Thonn's old
office. Other arrangements are
also being made.
at the meeting Of the board Of
directors Of the Capital Traction
Company held yesterday 1t was
voted that the regular dividend
Of Z per cent be reduced to s per
cent for the last quarter OF this
year, 1T was explained that for
number of years the company
has been paying its dividends
from surplus, having failed to
earn sufficient funds to pay q
/ per cent dividend since 1925.
Edward j. McQuade. vice presi-
dent Of the Liberty National
Bank, yesterday attended d meet
ing 81 the board Of directors Of
the Mergenthaler Linotype Com
pany III New York city,
Paul Clay, economist, formerly
connected with Moody, viii dis
clIsS prospects for 1880 at the.
meeting of the washington Bond
Club on Friday.
Herbert Bayard SWope, former
executive editor Of the New York
World and widely known in.
washington, was yesterday elected
to the board Of directors Of the
Radio Keith -Orpheum Corporation
at their meeting in New York.
Luxury Apartments in
London GIut Market
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