Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-01-29

~ no program mere, and tic
do something about it." was
made today by John r. Reilly
president of the Second Ma
tlonal Bank.
Mr.. Reilly was a speaker be-
fore the Board of Trade bust.
>--------~-~-
Cholk Urges Rush Hour Bon on Auto.
downtown. Poee B.
Keneipp Suggests Dropping Toxicol
Group Riding Rule. Pooe B.
ness outlook conference. He
and others who addressed the
meeting at the Willard Hotel
foresaw favorable business con-
ditions for 1857, at least in the
first half of the year.
Thornton w. Owen, chairman
OF the board of the Perpetual
Building Association, told the
meeting the Washington area
will not see as many new houses
constructed as in 1856. But he
said he did not believe the drop
will be as great in percentage
as IN the rest of the country.
Bay E. Estes, jr., director of
commercial research for the
United States Steel Corp. adj
dressed the conference at
luncheon.
Reviews Plans
Mr.. Reilly recalled that four
years ago the District embarked
on a 10-year program of public
works expected to cost more
than a third of a billion dol
lars. He remarked that costs
have advanced substantially
since then.
He said what he remembers
most about that effort was that
there was not an objection to a
single item by Congress, the Fed
eral Government, the business
community or the taxpayers. To
defray the costs. he said. taxes
were increased by about 10 per
cent and the Federal payment
by nearly 100 per cent.
He said the citizens were
united behind the program which
he had described as tagging now.
He asserted that the District
government now needs the sup
port of taxpayers and prominent
citizens.
IF We are going to preserve
Washington as a world center"
he said, II urge the Board of
Commissioners again to enlist
the support of citizens asSocia-
tons, businessmen representing
enterprises small and large, and
professional and business leaders
Leadership Urged
They can have all of this
talent without cost and those
who want to preserve the down.
town area will welcome the OPP
portunity to serve. suggest to
the leaders of the Washington
Board of Trade that they spear
head this movement. 1t is a
project worthy of your best ef-
forts"
Mr.. Reilly said that he looks
upon 1857 in this area as a
period of real adjustment to the
economic facts of life."
For the first half of this
year." he said, Il look for a con-
tinued strong upward move in
the total economy. Most signs
point to a slowing down during
the second half. The overall
should compare favorably with
1856"
Mr.. Owen, discussing building
prospects. said that since there
are no appreciable vacancies in
the Washington area the de-
mand for mortgage money to
buy and build homes will be
high.
Opposes Rate Rise
"There is some feeling that
mortgage interest rates may 90
higher in 1857 in order to in
sure an adequate supply of
funds" he said. This dc
not concur in"
Mr.. Estes, who discussed chiefly
the situation in steel, said it is
expected that the year will be q
record one for steel and for the
economy as a whole. He added
however, that before the year i:
over I'VE do anticipate a tempo.
rary slowing down of the growth
rate Of the economy and an &C.
tual decline in certain segment'
Of it, including steel production.