Evening star., 1937-11-10
ROOSEVELT SEEKS
PRIVATE BUILDING
AS BUSINESS SPUR
Stimulation of investments
in Housing Projects to
Be Discussed.
PRESIDENT WILL TALK
WITH EXPERTS TODAY
Reiteration of Balanced Budget
Intention Seen Precluding Fur.
ther Federal Spending.
By the Associated Press.

By the Associated Press.
Stimulation of heavy private in
vestments in housing construction de-
veloped today as one means the
administration may seize on to aid
business and employment.
President Roosevelt called Federal
officials and private business men to
discuss the possibilities with him this
afternoon.
White House attaches, emphasizing
any new undertaking would be apart
from the Governments slum clear
ance and low-cost home building pro-
gram, said the conference would be
concerned with methods of inducing
private capital into the housing in
dustry.
The impression prevailed that sug-
gestions for general increases In Gov
ernment spending as an aid to busi-
ness would get nowhere.
U. S. Pump Printing Seen Ended.
The Presidents reiteration at his
press conference yesterday that he
intended to balance next years budget
led informed observers to believe there
was little prospect of more Federal
pump printing.
The group called to the White
House for an afternoon conference
has been making study Of housing
possibilities for the President.
1t included Mariner S. Eccies, chair
man of the Federal Reserve Board;
j. M. Dagger, special assistant to the
board; Robert E. Wood, president of
Sears -Roebuck; Edward F. McGrady,
director of labor relations of the
Radio Corp. of America; Gerard
Swope, president of General Electric
Corp; Henry c. Turner, president of
the Turner Construction Co. of New
York; Samuel S. Colt, New York
banker, and Isador Lubin, chief OF
the Bureau of Labor Statistics.
Confers With Jones.
The conference followed one late
yesterday with Jesse H. Jones, chair
man Of the Reconstruction Finance
Corp. at which it was understood
the same subject was discussed, but
IN broader way to include ways to
bring about industrial construction
as we'll as housing.
Secretary Morgenthau may bare
some Of the administrators inten-
tions in relation to present business
conditions in a speech in New York
tonight.
Talks on Pump Priming."
He has indicated this speech. on
Pump Priming," might be an official
answer to advocates of heavy Federal
expenditures to offset any slowing in
the business pace.
Mr.. Roosevelt himself may touch on
business conditions when he speaks
over the radio Sunday night in an
appeal that the unemployed register
IN next weeks special census.
He continued. meanwhile, his study
Of economic developments, with con-
1erences on taxes, spending, relief
and allied topics. Into these he
dropped a hint that the public utility
industry might win some Federal
assistance If it would change its sys-
ocnA VI eVdiudtlnS property.
No Specific Pledges.
He gave no specific pledges to the
industry, but his remarks were in
terpreted in some quarters as bear
ing on complaints that administra-
ton policies have frightened" utility
firms from proceeding with construc-
ton programs.
The Committee of Utility Execu-
tives recently said it has "a vast
untapped reservoir of jobs outrival-
ing the programs of the P. w. A. and
w. P. A." and that the industry
has fallen $2.600,0O0,O0O behind its
normal construction schedule.
If utilities would adopt what he
called the common law method of
valuation and capitalization, Mr..
Roosevelt said, the administration
would be able to go along.
At the Capitol, there also was news
OF interest to business. A House Tax
Subcommittee tentatively proposed
that the present capital gains levy
be eased by permitting a carryoyer
OF losses from one year to the next.