Evening star., 1933-11-03
CONTRACTORS SEEK
UNISON ON CODE
100 Per Cent Voluntary
Backing Will Be Urged as
Way to Recovery.
BY CHAS. P. SHAEFEER.

One hundred per cent voluntary COM
pliance to the construction code is to
be urged on the building industry as the
surest means of fastening a general
construction revival at the annual
meeting of the Associated General Con-
tractors OF America here this month.
Public confidence in the soundness of
| construction as the basic capital invest
ment can be restored quickly through
strict adherence to the reformatory
measures that have been written into
the construction code and its supple
ments, the association believes.
Sterilization Predicted.
Edward j. Harding, manager of the
association, declares that although no
attempt at price fixing, aside from labor
| costs, Is made in the codes, stabilization
OF construction values is bound to fol-
low general adoption of the fair-trade
practices which place competition en-
tlrely upon basis of skill and mana
gerlal resourcefulneSs.
once this stabilization is realized"
he said, "pent-up capital that has long
! been seeking a safe outlet will once
again flow into construction"
Construction leaders are represented
as believing that unless capital can be
| induced to flow into construction in in
creasing volume, there can be no recoY-
cry and the "priming of the pump" by
the Public Works Administration will
prove futile
The governing board of the Associated
General Contractors, therefore, will lay
particular emphasis on the necessity of
soundly self-regulated industry TO re-
gain the confidence Of private investors.
r. F. c. Expansion Hinted.
1t is becoming increasingly evident to
some Capital observers that there will
be renewed pressure in the new Con-
gress for direct Government loans to
private business.
1nasmuch as President Roosevelt
stated that the Reconstruction Finance
Corporation act would have to be
| amended and extended by the new Con-
gress, it appears that this corporation
will be the logical agency for the pur-
! ton embarks on that course.
An amendment OF only few words
to the present act would accomplish
| this purpose. Loans are now author
, lied to ANY bank, savings bank, trust
company. building and loan association,
insurance company, mortgage loan COM
pany"
| Some Of the proponents of direct
loans to private business are now sug-
! gesting the addition of the words: "Or
to any other corporation operating any
plant. mine. mill or factory constitut-
ing an economically sound and useful
number Of persons and important to
the economic welfare of any comnu-
nifty in any State"
Rails Blamed for Coal loss.
The responsibility for the enormous
loss in bituminous rail tonnage in New
England is directly upon the carriers,
in the opinion of Edward Page, presi-
dent Of the New England Coal &
Coke Co.
Commenting on the situation there
he said an annual coal requirement OF
about 100000 tons has been displaced.
number OF domestic and commercial
oil heating installations and declared
that while everything possible was done
at the mines to meet this competition,
the railroads freight rates not only re-
manned at pre-war Levels, but were &C
tua1ly increased.
a temporary iuil in in the Shift from BIZ
luminous coal, he said, but Its certain
that this condition will be temporary
as the coal operators are faced with
higher labor costs under N. r. A
Third quarter earnings reports made
public thus far reveal in majority of
cases an improvement over the CORE
spending period of last year.
These reports reveal an increase in
the number of companies. formerly
operating in the red" which have re-
turned to a profitable basis during the
last two quarters of this year.
In addition, it is indicated that more
dividends are now being earned with
definite trend toward restoring or in
creasing common dividends. as well as
paving up on cumulative dividends
which have fallen in arrears.