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Show Southern Pacific Plans Huge Orders; Officials Optimistic , . - i President of Road Says Confidence Confi-dence Iieinu Restored; ISuy Supplies.- . SAN FRANCISCO. Feb. 5 (ll:-Huiie (ll:-Huiie orders for supplies and materials ma-terials will be placed at once by the Southern Pacific company in "doing "do-ing its share in pettins back to prosperity road," President Paul Shoup announced in .a. Istatement today. "Orders will be placed this week for 20,000 tons of steel for delivery later in the year." Shoup said.-"We are also poing into the'market for ties in a substantial way." Recent developments in the country's coun-try's economic situation, as viewed by Shoup on an eastern trip, indicated indi-cated "Confidence is being restored," re-stored," he said. Constructive Events "That is all that is necessary now to enable us to look forward with equanimity." he said. "Two very constructive events in January were unquestionably the establishment establish-ment of the national Reconstruction Reconstruc-tion Finance corporation and the voluntary agreement between railroads rail-roads and labor organizations tinder tin-der which a reduction of 10 per cent in the railway pay schedules is ' effective for a period of 12 months beginning Feb. 1. "The action of the steamship companies within themselves to find a regulation that will sympathize sym-pathize and stabilize their own rates and practices through the Panama Canal so that they can make some money will, if- It works out, be incidentally quije helpful to the transcontinental railroads." |