The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1938-01-20
By HARRY WILSON SHARPE
Press Staff Correspondent

United Press Statt NorcSponoShe
WASHINGTON, Jan. %. (UP).
Fifty of the nations business
leaders las. night promised Presl-
dent Roosevelt their cooperation
in combating the trade slump but
specified that limited wages
hours bill. q truce with public
utilities. no general purge uj hold
ing companies ami no further
tinserirg with the currency are
necessary to aid in tn struggle.
The conicryeS, all members of
the department Of commerce
business advisory council, spent
an hour and a half with the presi-.
dent. Afterward Avcrill W. Har-
riman, chairman Of the group, is
sued a statement which embraced
the views of his colleagues and
which was read 10 Mr.. Roosevelt.
The statement said reemploy-
ment In private industry is the
critical problem now before the
country and that uncertainties
that exist in "the hearts of men"
must be eradicated.
I've wish to record with you
our faith in the efficacy of the
principles Of democracy, and yet
our grave concern over the pos
So,e far-reaching effects of our
present situation" the statement
concluded. Tolerance and under
Standing must be used by all sec
tons and interests in the coun-
try"
On leaving the White House
some OF the conferees went TO the
fashionable Mayflowcr hotel
Where they were seen in CONVEX
A,lon with J. P. Morgan, famed
International banker. Morgan
all atterward that his presence
naa nothing to DO with the Roose-
VET meeting.
Inc advisory council touched
OIL the most important parts of
.-e Aew Deals many-aided reform
an. a.. recovery program. II rccog-
Ile1 President ROosevclt's con-
t'A''on that there is a "ncw
nora. climate" in America and
Promised 20 Join with the govern
~sHt IN curing business and fl
'a.clai inequalities.
: Views expressed by the CON
.yTSes together with Mr.. Roosc-
vets observations included:
Wages and Hours: A fresh
s,sG[ Of he subject was RECON-
y by the council which said
I S."- any wageS-hours bill should
y SeStIctcd 20 one ending "star-
Sa''"h wages and intOlcrable
S SSlrS. The president said he
.oped the proposed study would
-: ds'ay action on measure at
va" n session Of congress.
q, BUSINESS practices: The coun-
4. promised full cooperation in
~ ~. Presidents anti monopoly
I;.Ge. 1t held that cooperation
p.'oIh Industries as attempted
Inuer NRA, however, "held much
~ ,a' ], Is desirable to preserve.
'"g president rad no comment.
81 aoIalng companies. the coun-
|" agreed to work with the presi-
,sIt toward geographic decen-
,as''zatlon of industry" and de-
.,eu the use of the holding COM
=, 4nF Tor financial manipulationS.
'-l u viewed with grave con-
81 s." any general move such rs
It. Roosevelt recently suggested
outLa wall holding companies.
iaNy Of these business units, it
os S He!d, have many advantages
= tne public good and there
aaOuid be no interference with
Is operations of mass produc-
va industries" The president
seed that some holding compan-
:, enjoy a certain amount of
.a<" efficiency and otherwise OPP
'%Se IN the public interest.
BUSINESS Laws: The council
4'I II was "our sincere convic-
.oN that the first objective of
u administration in the present
,.'atlon must be the reestablish-
.eht Of business asctivity and
employment and that reform
! abuses must be conducted
''a a systematic understanding
ne functioning of legitimate
tCOntinued on nape threel