Evening star., 1955-01-25
Business Boom
Predicted Here
For This Year
Speakers Cite
Favorable Signs
For D. c. Area

For D. c. Area
A rosy picture Of business in
the Washington area this year
was drawn today for the WASH
ineton Board Of Trades Busi-
ness Outlook Conference.
Hubert T. Bisselle, jr., senior
vice president of the Riggs Ma
tional Bank. based his optimistic
view fundamentally on these two
factors:
The apparent leveling OF Of
Government employment, with
no significant cuts expected for
the balance of the year.
The prospects, of Federal and
District Government 5 per cent
pay increases. If the pay rise
is effective for the last half Of
1856 only, he said, it would add
about $40 million to the public
pocket book. "Such a prospect
is a shopkeeper's dream" he
added.
Panel Discussions Today.
Mr.. Bisselle was the initial
speaker at the Board Of Trades
third annual outlook conference,
held at the Shoreham Hotel.
Panel discussions were sched-
uled during the day and w. B.
Murphy, president Of the Camp
bell Soup Co., was the speaker
ut a luncheon session.
Mr.. Bisselle listed these addi-
tional factors favorable to Wash
ington business in. 1855:
/. An estimated increase Of
from 2 to 5 per cent in total
retail sales.
2. Continuing strong construc-
ton activity. equal to or even
exceeding moderately the 1854
record.
3. The activities of the Rede-
velopment Land Agency, which,
he said, will be of increasing
economic Importance.
4. A Somewhat better year"
for automobile dealers.
S. A possible increase in Wash
ington's second largest industry
conventions and tourists. He
quoted the Greater National
Capital Committee as saying
Washington may enjoy "its
greatest convention year in
1856" S
Stronger Than 1854.
"We have gone into 1855 with
more elements of strength than
we possessed at the beginning of
1854, which in itself proved to
be the second best year in our
economic history Mr.. Bisselle
said.
IF there is one single thing
about 1865 which appeals to me
most 1t is that / think 1t will be
harder to be a poor prophet this
year than it was last year. The
unanimity of favorable forecasts
is almost startling"
Mr.. Muphy in his speech at
the luncheon meeting said it
seems likely that 1855 will
nudge out "a from its position
as our second best year and may
turn out to be our No. / peace
time year."
Favorable Factors.
He said behind today's healthy
economy are:
/. A high rate of technical
development in industry which
Is producing a kind of revolution
in products and processes.
2. Important shifts in home
life. particularly in the urban
areas, which might be called "a
kind Of revolution in living
Mr.. Murphy cited the movement
OF families to single-family units
and predicted that last years
construction Of IL million new
homes may be exceeded this
year. n
The revolution in products and
processes, he said. has been aided
by automatic controls and mech
anized processes in production,
new electrical, chemical and
atomic discoveries and new con-
cepts Of management.
Among the effects he listed in
creased industrial spending.
lower production costs and higher
wages and salaries, and output Of
new products.
AS for the Campbell Soup Co.,
Mr.. Murphy said it expects to
increase net sales from 1888 mil
lion In the year ending last July
!, to $500 million by 1860. To
do this 1t plans new buildings
and new machinery costing more
than 500 million.