Evening star., 1933-06-25
BUSINESS LEADERS
CONFER TOMORROW
ON RECOVERY PLAN
Industria|ists, Responding to
Roper Bid, Will Take Up
0verproduction.
CABINET COMMITTEE ITO
MEET WITH JOHNSON
Near Crisis Reported Over Price.
Fixing Provisions of Control
Administration.

With business indices revealing con-
tinued resistance to adverse seasonal
factors and activity reported well main
tanned along the major domestic fronts
industrial and financial leaders will as
semble here tomorrow to plan a system
to keep industry on an even keel after
the national recovery program pulls it
from its low depth.
The leaders were called here by Sec
retary of Commerce Roper, who Is
chairman of the Cabinet Advisory Com
mittee on Industrial Control, to act
as advisers for the Commerce Depart
ment's program on long-range planning
for industry.
They also will lend helping hand
to President Roosevelt's aides in per-
fecting the organization of the recov-
cry administration, as several of them
have been selected as advisers on in
dustry's part in checking the downward
spiral of buying power by spreading
employment throughout the Nation.
Crisis Looms in Industry.
At the same time this board Is in
session, members of the Cabinet Com
mittee will confer with Brig. Gen. Hugh
S. Johnson, industrial control admin
istrator. on policies and organization of
his staff. This session Is regarded as Of
extreme Importance because a near cri-
sis is reported to have arisen in indus
try over the administrations price-fix-
ing provisions.
Among the business leaders who have
s1gn1f1ed they intend to be present at
tomorrows conference are Melvin Tray
lor, Chicago banker; Fred I. Kent of
the New York Federal Reserve Bank,
Walter S. Clifford of the American
Telephone & Telegraph, Walter c. Tea
gle of Standard Oil, Alfred P. Sloan
Of General Motors and Gerard Swope
OF General Electric.
Roper will request the business lead
ers to make studies of problems of de-
centralization of industry, adjustment
OF international trade between coun-
tries having nationally planned econo-
mics, the relations between the funded
debt and the growth of the capital
equipment OF the country.
Stresses Wage Angle. :.
Administrator johnson has ruled that
profits, as we'll as wages, will be among
the main concerns of his administra-
ton. So far. however, he has stressed
the wage, rather than the profit angle
In laying down the basic principles
which will guide the administration in
trade agreements of fair competition,
it has been stipulated the codes must
carry either the definite provision or
clear understanding that the products
of the industry concerned must not be
sold below the cost Of production.
Also 1t has been emphasized that
price rises should be postponed as long
as possible to allow the present de-
pressed purchasing power to gain mo-
mentum Business leaders are express
ing their dissatisfaction over this and
are now demanding that they be al
lowed to share in the first upturn of
the dollars purchasing power, along
with the wage Garner.
Industry, according to many trade
association representatives here, will
watch for this issue to arise at the pub
lie hearing on Tuesday on the code
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