Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-12-04
BUSINESS FARLEY
FACES VITAL TASK
Industrial Leaders Gathering
Here Must "SeII" Plans
to U. S. Trade.

Business men throughout the coun-
try are watching anxiously for the out
come of the conference which will
gather here Thursday at the instance
of President Hoover, the Department of
Commerce and the United States
Chamber of Commerce. The gathering
will bring together more business execu-
tives of really large caliber than ever
before have been assembled in this
country. Indications are that the 260-
odd delegates who represent 80 indus
tries or branches Of industries are
pretty we'll sold on the idea of an adj
viSory council, perhaps temporary at
the start, but which eventually may
act as q permanent body, whose Serv-
ices are to be invoked to stabilize con-
ditions in any emergency which may
arise in the business world. It Is likely
that the conference will agree on such
q council. The chief task both Of the
members of that council and Of the
delegates who attend will be to SELL
the idea to the divisions of industry
and the organizations they represent.
Task Of Conference.
There is a general opinion expressed
among the gathering delegates that the
business body must be sold" thor
oughly on the idea or the council will
prove Of negative value. The delegates
may be raised to a high pitch of en-
thusiasm. They may see before them
as . result Of this meeting q great era
steady employment, but all they can do
to bring it about is to inject some OF
their own enthusiasm into the stay-at-
homes. None OF the delegates can
pledge his industry to any DEFINITE
course of action at this time Some of
them cannot speak authoritatively even
for their own corporations.
The delegates are by no means un-
aware that any advisory body they
might sponsor would be left without
an enacting clause. 1t could not en-
force action. It could not compel any
line of industry to curtail production
to meet demand nor could 1t force any
construction. All 1t could do would
be to give advice. and business-like
individuals are notably disinclined to
take advice.
Belief is expressed by the delegates,
however. that q council. such as Is
contemplated today, would and could
give good advice and that business,
commerce and industry in this country
is far-sighted and open-minded enough
to take it: They admit. however, that
1t must be advice such as follows along
the main ideas of business endeavor.
When all Is said the business Of bust
ness is to make profits. If the council
can bring business men to the belief
that a policy will return more proffe
over a long general period they win
follow it even at the expense Of i'm
mediate returns. But they must be
thoroughly convinced.
Petroleum Industry.
One Of the delegates heavily inter
ested in the petroleum industry cited
this theory today with his own industry
as an illustration. The leaders of the
oil business, he pointed out. have long
been agreed that curtailment of pro-
duction to q point commensurate with
demand was q necessity II prosperity
was to be attained. Despite that fact
the industry has not been able to
achieve curtailment because certain
factors found that they could not fol-
low this policy and still get the oil and
the money out Of the ground to which
they felt they were entitled. He pointed
to the increased success which the
petroleum industry was showing in the
gain of voluntary regulation as an ex-
ample of what the proposed national
council might be able to do over q
period Of time in much larger and
more widespread way.
Some of the Stay-at-homes have q
feeling that they may be placed in the |
position of q man In. the dentist chair |
who is being told 1T won't hurt" while
he can feel the agonizing twinges rae
ing along his nerves. When they be- |
come actually convinced that the poll |
cies and advice of an advisory council |
won't hurt they indicate they are /
perfectly willing to follow them.
Those are some OF the things which |
the delegates will have to accomplish |
when they report to their constituents. .
Some will not be easy to convince |
Chairmen of the boards of modern |
corporations are chosen now for their |
ability to keep their eyes fixed on q /
single goal-proflts for their share
holders. If they could give more than
they would not be chairmen of the |
boards Moreover most modern boards /
have at least one "bellyacher." as the |
genus is technically called, whose sole |
duty it is to throw wet blanket on |
every proposition which Is not headed |
directly and by the shortest route
toward added earnings
Conference Important.
These facts must not be taken as
indicating any lack of value in the |
coming conference. 1t is the largest |
and most important business meeting |
ever held. The biggest men and the |
best statesmen in the world will be be. !
hind any action 1t may take and they |
are convinced they can "sell' the re- !
mainder Of the business world the ideas |
evolved. The hundreds of thousands |
OF business men throughout the coun- |
Try hope they can, too, but q good !
many say that while they are willing |
prospect, they have to be shown"