Evening star., 1938-11-01
u. U.S.-business
Amity Is Seen
By Utility Head
Electric Bond & Shore
Chief Tuiks Peace
At White House
By the Associated Press.

By the Associated Press.
Clarence E. Groesbeck, chairman
Of the Electric Bond l. Share Corp,
said after a White House conference
today the "rapprochement between
the Government and the utilities is
most heartening and its implications
are of far-reaching national sig
nit1cance."
Mr.. Groesbeck, talking with re-
porters after his half-hour con-
ference with President Roosevelt,
added:
I'VE need only recall the negotia-
tions between the National Defense
Power Committee and the utilities
eliminated at the meeting here last
Friday. to realize that mutual un-
derstandings and cooperation has
advanced beyond the theoretical
stage.
THE successful outcome of those
negotiations should point the way to
working out satisfactory under
standing with government of the
other problems of the industry"
Talked of Expansion.
Mr.. Groesbeck referred to The
agreement last week whereby the
private power concerns, with Fed
eral financial assistance, will pro-
ceed with $4,000, ,OO0, 900 expa nsion
program to fit in with new national
defense plans.
He said he told the President that
all OF his companies had ALREADY
complied with the wage hour bill
in full"
The utilities Official said he also
talked about plans of Electric Bond
& Share to file reorganization
plan under the so-called death
sentence of the Holding Company
Act.
Withholding details of this plan,
to be filed by December l with the
Securities Commission, Mr.. Groes-
beck related that he had outlined
the plan to the President in general
terms as he had previously outlined
them to officials of the commission.
Utilities Stocks Pick Up.
They still are in the formative
stage" he said, land I think any
further public discussion of them
now would be premature"
In parting with reporters, Mr..
Groesbeck said the market for COM
mon and preferred utilities stocks
was beginning 70 pick up"
Mr.. Roosevelt Also held q confer
ence with Treasury and housing ON
cials to discuss reported new hous-
ing plan.
Called to.tiie White House for the
meeting were Secretary Morgenthau
and Undersecretary Hanes of the
Treasury and Stewart Mcdonald,
Federal Housing administrator:
Gerard B. Lambert, special adviser
to the F. H. A.; Abner H. Ferguson,
F. H. A. general counsel, and j. M.
Dagger, F. H. A. financial adviser.
The President also had on his call
ing list several businessmen for sep
arate conferences. White House off,
clals said, however, no new business
move was in the making and that it
was mere coincidence that so many
business leaderS were calling In one
day.
Among the business men who had
appointments with Mr.. Roosevelt, in
addition to Mr.. Broesbeck, were:
Louis E. Kirkstein, Boston merchant;
Charles F. Kettering of Dayton,
Ohio, president of the General Mo-
tors Research Corp, and Henry l.
Hartman, former president of the
United States Chamber of Com
merce.
The President invited to lunch
Associate Justice Stanley Reed of
the Supreme Court. Other callers
were Senator Pope, Democrat, of
Idaho, who was defeated for renom-
lnation in the primaries, and Paul
Van iceland, former prime minister
of Belgium.