The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-12-30
BUSINESS SEES
RAYS OF HOPE
FOR new YEAR
Improvement, Steady But
Slow, Forecast by Indus
trial Chiefs.
EXPECT NO MIRACLES
Depression Is at or Near
Bottom, Belief Expressed
in Interviews.
BY RICHARD l.. GRIDLEY
United Press Financial Editor
fCopvriQht 1892 bv United Pressl

NEW YORK, Dec 30-American
business is looking forward to the
new year with considerable conf
dence and hopefulness. despite the
current abnormally low level of
business activity.
Year-end forecasts of leaders in
the country's major industries show
a growing belief that the depression
has reached or shortly will reach its
low point.
While promising no miraculous
restoration of prosperity, business
leaders are far more hopeful than
they were q, year ago. They believe
improvement next year will depend
to a large extent upon early solution
of economic problems, such as bal
ancing of governmental budgets,
settlement of domestic and inter
governmental debt questions, and
restoration of the normal flow of
goods throughout the country.
LOree Expects Improvement
Excerpts from year-end business
statements made to the United
Press by the nations financial and
industrial leaders follow:
L. F. Loree, President Delaware
d Hudson Railroad Corporation
| am of the opinion that we have
reached the low point and that we
can look forward with confidence
to improvement which, even though
slow, will be steady.
F. A. Merrick, President Westing-
house Electric and Manufacturing
Company-The processes of def1a-
ton have about run their course,
leaving the way open for widely
fe-- realization of this fact to start
all the wheels turning and to keep
them turning in an orderly, suS-
tanned return to normal.
Alvan Macauley, President Pack
ard Motor Car Company-It is with
the finest product in it's history, a
sound financial structure, low in
ventories, and an enormous poten-
tial replacement market that the
(automobile) industry enters 1888.
Railroad Chief Doubtful
F.. f. Williamson. President
New York Central Lines-A survey
Of the conditions facing us, and I'M
der which we will enter the wear
1888, makes it exceedingly difficult
to predict, with any hope of being
right, what course business will
take during the coming year.
Gerard Swope, President General
Electric Comparative are hopeful
that this trend Tin electrical manu-
factureS) will continue upward.
w. B. Storey President Atchison.
Topeka e. Santa Fe Railway-The
various difficulties which have be-
set business seem to be working out,
one by one.
John j. Pelley, President New
York, New Haven e. Hartford Rail
road Company believe that the
improvement in business which
started this fall should continue
gradually.
Thomas J. Watson, President In
ternational Business Machines Cor
poration-More encouraging reports
continue to be received from bust
ness offices throughout the coun-
try.
Petroleum Head Hopeful
c. B. Ames, President American
Petroleum Institute-The petroleum
balance sheet for 1882 presents a
more optimistic picture than did
that of 1881.
American Bankers Association and
Vice-PreSident Guaranty Trust Co.
of New York-The American bank
ing system as a whole begins the
new year stronger that it was
twelve months ago.
G. F. Swift, President Swift e.
Cove hope to have substantial
improvement in our results in 1888.
A. r. Erskine, President Stude-
baker Corporation-Sales of motor
vehicles, both passenger cars and
trucks for 1888 should show a sub
stantial increase over 1882.
William ONeil. President General
Tire and Rubber Company-Pros-
pect of increases in the prices of
crude materials in the near future
is one of the most encouraging
signs in the outlook for 1888 in the
tire and rubber industry.
j. Howard Pew, President Sun Oil
Company - If congress and the
forty-four legislatures of 1888 will
find means of removing the tax
discrimination, they will do much
toward opening the way to better
business and better times.