Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-26
CLIFFORD HOPEFUL.
FOR TRADE FUTURE
T.&T. President Foresees
Long Period of Pros
perity in U. S.
aueclaI Dispatch 70 The Star.

Special Dispatch to The Star.
NEW YORK, November 26,-In the
historical little city of Salem, Mass, q
home town boy, Walter 8. Clifford, now
president Of the American Telephone &
Telegraph Co., told his friends that
the United States Is about to enter q
period. Of prosperity. the like, Of which
no country has ever seen before; new
era Of big business working for the full
fillment of its social obligations; new
development In industry to work out
the problem of distributing what we
have on the basis that we have plenty
This" Mr.. clifford added, lis more
or less typical Of what is happening In
business today That is. big business.
It is the spirit Of service which Will
have the effect of making what goes on
today look inflnitesinal compared with
what Is to be in the next so years"
And that statement Is worth think
ing over.
Conference Urged.
Another business leader, j. D. Mooney.
president of the General Motors Export
Co., has suggested the calling Of an
international economic conference TO
discuss all of the basic problems relat-
ing to the economic recovery OF Eu-
IODS, ana lG8 T6ldIlOIl W bL11o COuAAUiy.
Call such q conference, let America
participate Fundamentally, and abide
by the results which are worked out at
the conference, Is his suggestion.
mo nation can sit back in isola-
tion," Mr.. Mooney thinks, and look
from the sidelines on the worlds
trouble, for sooner or later every nation
Is affected. Only by cooperating with
Europe Is 1t possible to solve not only
the problems Of Europe, but the eco
nomic problems confronting the United
States as we'll"
Thinks Worst Il Over.
John z. Edgerton, president Of the
National Association Of Manufacturers,
= one Of those business men who be-
Eeve that the present depression Is
basically due to the forces which were
unleaShed by the Great War. So far as
the United States Is concerned, he
thinks the worst is over, and that the
late Winter or early Spring will wit
ness q stable and gradual Improvement
generally"
I'VE are nearer real sterilization than
ct any time since then" says this
manufacturer. ''If all the people, pro-
ducers and consumers, viii demonstrate
their faith in cur industrial structure
by producing and buying normally
and now-tl1is viii do more than any
other effort to carry the country well
out of its spasmS Of inertia and into
practical action and better timeF."
Why not try it-for . change.
Case Fit for Big Fob.
J. Herbert Case, chairman Of the
Federal Reserve Bank Of New York,
selected to head the giant billion-dollar
New York bank merger in the making.
Is Q big, broad-stouldered deep-chested,
athletic looking individual. He IS serv-
ing as president Of the National Asso-
citation Of Community Chests and has
given literally Of his time to various
social and religious activities.
While Mr.. Case Is not college man,
having gone to work at an early age,
he has the scientific approach to the
problems which interest him. He is
treasurer Of Elmira College and gives
much time to its financial Affairs.
A close associate Of Mr.. Case gives
this description Of him:
Mr.. Case must have been q red
headed boy, although he is bald today.
He Is q splendid executive and extreme
~ popular hrst-claSs mixer. He u
round faced, with, clear blue eyes,. Q
student Of business statistics, Sympa-
thetic 70 bank research, q good public
uDeaker--far better than the average
fluent, able to express himself without
difficulty. He Il . home man, as dis
tinguished from club man. He has
two sons and one daughter, both sons
being graduates of Princeton University.
One Of them Is now private secretary
70 Owen d. Young.
Mr.. Case dresses conSefvatively and
plays business mans gol-yes, about
loo il his scorel The Federal Reserve
Bank Of New York will greatly miss
him, for he is one Of its most popular
employees"
Mr.. Case is expected to resign shortly
from the Federal Reserve Bank to enter
upon his new and important duties.
Morgan HOnored
DR.. J. p. Morgan! That's what it is
now-for yesterday oxford University,
England. granted to the powerful head
Of the house of Morgan the honorary
Judging from the editorial comments
IN the English press, the British people
approve heartily Of granting this high
est honor that ancient university can
bestow to this well known American.
As one editorial says, He Is . business
man and . gardener, an international
nnancier and an English squire"
Mr.. Morgan, So, Is the third genera
ton In the House of Morgan. A grad
honorary degrees by several American
MISUNDERSTANDING College, Harvard,
Princeton and New York Diversity, Is
well as by Cambridge University, Eng
land.
Much Of his time has been passed In
England in recent years. He has 9
large country estate at Aldenham, and
he is usually TO be found in Scotland
during the hunting season. He has
contributed literally to the English arta
and sciences.
Foreign Loans.
Look over these flgureSl They repre-
sent the amount of money American
business men have invested or loaned
outside the United States. They are
the ofacial figures Of the United States
Department OF Commerce at the end OF
1929:
Canada 81 $50 1920, 600
South America. .......... 1,o41 ,093,OOO
europe 4,ooz, tooSOOu
Cuba and the West Indies loss, ISL ,000
Mexico and Central Amer
lea. ................s. - I,VoS'Ovv
ASIA S0F,01OJVOo
Australia and New Zealand LAC, l54000
Africa aluminium. lUZ,zzS,VVu
Total. .................$ 7,477,735. 000
North and South America together
have over 70 per cent Of the total. Can
ada has more than double that OF any
ether country.
The United States today has twice