Evening star. [volume] (Washington, D.C.) 1854-1972, 1954-01-27
Trade Leaders
Are Optimistic
On 81 Outlook
Businessmen See
No Reason for
Talk of Recession

NO Reason tor
Talk Of Recession
There were no prophets Of
economic doom or gloom yester-
day at the second annual eco
nomic Outlook Conference Of the
Washington Board of Trade.
More than a dozen leaders in
varied business activities, from
banking to building to retailing.
conceded that 1854 will be q
year of challenge to the business
men.
But all agreed that problems
to be faced. including a read
justment," minor recession" or
change from sellers market to
a buyers market. are not in
surmountable.
Comments of some of the
speakers during the day-long
session in the Shoreham Hotel
follow:
Ralph Goldsmith, president Of
Lansburgh g. Bros: 1T is very
evident that a fear psychology
has dominated the buying habits
of a great many people here.
Reports of stabilizing Federal
employment and other activities
will have a marked effect in dis
pelling those fears. Alert, in
telligent marketing and retailing
will enable local businessmen to
either match or go ahead of last
years sales figures"
L. Gardner Moore, managing
director of the Shoreham Hotel:
THE hotel industry here has
gone through real change.
Washington was the center of
the Governments emergency OPP
erations and the hotel business
benefited because of big firms
keeping representatives here.
This has ended with the emer-
gency. To fill the vacuum thus
created will not be easy but we
are going after the convention
and tourist business for 1854
with good results so far"
Bruce Baird. chairman Of the
board. National Savings & Trust
Co.: THE banking situation is
more healthy than ever before.
We are equipped to render un-
limited service to business and
professional people of the city.
It's very wholesome and happy
situation in which to find our
selves. Talk about a recession
should be stopped cold, it could
bring on such a situation if left
unanswered"
James Allen, executive vice
president. Henry B. Gilpin Co.:
The drug sales business has
great potential in Washington
and vicinity. The total drug sales
for 1854 will be very close to
1858. The future looks good"
Hugh Duffield, Washington
manager, Sears, Roebuck & Co.:
washington business life exper-
fenced slump last spring while
the rest of the Nation was still
riding a crest. The situation is
now reversed: that is, Washing
ton business activity has taken
an upturn while the rest of the
Nation is experiencing a slump"
He predicted local sales for the
first six months here this year
would exceed sales for the same
period last year.
Abner L. Roe, vice president.
William P. Lipscomb Co., con-
tractors: The volume of heavy
construction will continue to in
crease in Washington this year.
The city has never been able to
keep pace with its needs from a
construction standpoint. Archi-
tects' drawing boards are full of
projected plans for Developments
OF schools, stores, parking ga
RACES and other projects. Labor
costs will be higher this year and
so construction costs will DO
higher also
Thomas L. Phillips, president,
Washington Real Estate Board:
AT the turn of the century it
was predicted that the bottom
would drop out of the Washing
ton real estate market. That
prediction has cropped up time
and again. But the bottom is
still holding solidly. I'm an opti-
mist. The real estate business
Will be good as tourist business
develops and expansion of BUSH
ness into industrial and research
lines progresses"
William Dyer, secretary, Per-
petual Building and Loan Asso-
citation: District of Columbia
building associations ended 1853
with $50 million in assets, Is
per cent over the preceding year.
We should have more money
than ever before available for
financing of new homes"
Edward Il. Carr, president,
Edward r. Carr. Inc, builders:
There will be more housing
built this year than in 1858. Re-
Mobilization of present housing
will account for a great deal Of
work. see good outlook for
the next two years in the build
ing industry. think there will
be considerably larger produce
ton of lower-cost houses, in the
$4,000 bracket"
j. M. Sanders, vice president,
Hill & Sanders. Inc: THE year
1854 will present a challenge to
automobile retailers. We have a
stable employment in both Fed
eral and private industry here
and the challenge will be for us
to sell more cars than we did in
1858 think we can do it,"
Arthur Linn, vice president Of
Hamilton National Bank: Credit