Salt Lake Herald | 1907-10-20 | Page 1 | Schwab Evokes Much Applause

EVOKES APPLAUSE I Capitalist Has Faith in San Franc sc Remodel Union Iron Works San Francisco Oct 19 Charles M lI Schwab addressed a meeting of the most Influential men in San Francisco at noon today in the board room of ot the Merchants Exchange His Hla subject was San Industrial Situ Situation SItuation atlon and Her Commercial Future The most Important of the direct statements made by Mr Schwab was that after looking the ground over carefully he has decided d not only to continue the Union Iron works but to modernize that ship building and structural structural structural tural plant at a cost of or more and enlarge its capacity of out output output output put This announcement threw his au audience audIence audience to a turmoil of or and cheers The Labor Question Mr Schwab declared that the condi conditions conditions conditions of industrial warfare existent in San Francisco cannot survive that the unusual and abnormal scale of prices for labor Imposed by the unions on capital in this city must fall that con confidence confidence as between themselves and the integrity of at the courts must be restored re among the people of San Francisco that he Is not an enemy of oC organized labor but Is opposed to the way labor unions are administered today that San Son Francisco cannot help succeed succeeding succeedIng succeeding ing and that this city has before It Ita ita I a future greater In Industrial commer commercial commercIal cial and economical achievements than thanin thanIn in Its Us past Criticism cism Not Understood After his address Mr Schwab In re reply reply reply ply to a question asked the Associated Press to make for fo him the following statement My recent criticism regarding Ne Nevada Nevada Nevada vada have been misunderstood I have not criticized and do not criticize tho citizens of that state My criticisms were directed solely rolel against the men who have brought the mines of Ne Nevada Nevada e evada vada to New York