Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-17
HOOVER CONFERS
WITH B. NJ. BARUCH
Business Situation Discussed
in Series of White House
Talks With Leaders.

PreSiuent hoover conferred Tor several
hours last night upon the general bus
iness situation with Bernard M. Baruch
/ New York financier and nationally
prominent Democrat. Mr.. Baruch was
guest at dinner at the White House.
and afterwards he and the President
talked in the latter's study on the Sec
ond floor until the time arrived for Mr.
Baruch to hurry to the station to catch
the midnight train back to New York.
Last nights conference Is looked upon
as Of real Importance, not only because
Of Mr.. Baruch's position in the financial
world, but because it was one of g
series Of such conferences Mr.. Hoover
will hold from time TO time with finan-
cial and business leaders.
Keeps President Posted.
According to the President himself
| these conferences are for the purpose
OF keeping him posted as to business
conditions and possible trends. Also
the President Is known to have advices
to the effect that a business revival is on
the horizon and to substantiate this he
is seeking the opinions of those men
whom he believes are in positions 10
advise him correctly.
Additional Importance Is attached to
last nights conference as well as to the
/ one preceding it because of the specu-
lation to the effect that President
! Hoover is eager to do what is possible
to steady the stock market, particularly
under the repeated attacks of short
sellers.
1t is known that the President has
been advised by administration asso-
ctates that the Federal Government is
without power to take any direct action
to curb bearish assaults and therefore
1 I.ak 10 ~ 40
| ton to do something helpful Mr.. Hoover
| is calling men of finance and business,
not only to get their views but their
cooperation.
Other Leaders Seen.
Mr.. Hoover's conference with Mr..
Baruch followed close upon the heels of
other conferences held last Sunday
night at the White House with Richard
whitney. president of the New York
stock Exchange, and Allen Lindley,
chairman of the Business Conduct
Committee of the New York exchange
Other prominent figures who have con-
ferred with President Hoover since he
initiated these conferences about three
weeks ago are Alfred p. Sloan, presi-
dent of the General Motors Corporation,
and Charles Hayden, Boston and New
York banker and broker.
\ re-
Gently with Eugene Myer, jr., the new
governor of the Federal Reserve Board.
Mr. Myer, by the way, Is one of the
Presidents associates who holds that
the Government can do nothing ON
cially to steady the stock market If he
so desires
Other than to say that the general
business situation was discussed during
the Presidents conference with Mr.,
Baruch last night, the White House to-
day would make no further comment.
It did state, however, that the Presi-
dent expects to hold more Of these con-
ferences from time to time. MIR. Baruch
was advisory commissioner of the
Council of National Defense during the
World War and chairman of the Com
mittee on Raw Materials for the War
Industry Board and otherwise promi-
nently identified with the Wilson adj
ministration throughout the war.