| Show v PROSPERITY PR ON RETURN TO US U.S. U. U S. S SCHWAB AA SAYS Sq I Sees es Better Tithes Times p. p SS 4 y r 5 1 k 4 4 t 4 t S c Y r t St t fr fri i a.- a. I 1 f CHARLES SCHWAB M r Steel Magn Magnate te Declare Declares Industry Facing BigI Big I 0 Business Business' Failures Temporary Not ot Basic H He Says Says' NEW YORK Oct 24 Unite United Th Press Press The American steel indus indus' industry industry try a cornerstone of lof the n natron t on is ow meet meela now preparing to mee a greater future demand for it its iti products ta than ever realized r i in th thipa the thi pa past t and and will lead the tho mar march h t to tc property President Charles M M. Schwab of the American Iron Iron and arit Steel institute declared today at thc th Hie semiannual meeting of the institute The steel Industry Schwab asserted as as- I as-I has hs h s held true tru to its pledges pledge of ot six months ig ag ago that it would no not cut wag wages and has substantially old a avoided d the traditional n l practice p or ol wholesale layoffs ot or The far fit sighted and sound handling of or our Oui workers workers' interests interest during these le past as m months of r trying conditions he saId sald wll will I stand out in bold bold as the th ma maJor jo ae nt of Amerl American n r man man- today j an-j OTHERS SEE HOPE HOPE- r Otlie l r i strained tri d In t el pt than h n Schwab so found Q nd signs signs' j of bette f times ahead K E. R. R Grace Bethlehem n Steel t t sir th ho Industry was oh on an and rid should find improvement after the turn turn turn-of or of the y year ar L. L LE Eo E. BI Block k chairman of ot Inland Steel pointed out but ut that inventories inventories- are now low Ion ow and prices stabilized There Th re arc nrc h bo great many signs ui that t things nr arp aro getting betters Ji J 1 Si l int ny directions Thomas homas Girdler president of Republic Steel St said KEYNOTE KEYNOTE- SOUNDED SOUND D Jt it was w Sch Schwab q cr who s sounded the kc n tc tb or of the thc mc l ing Veteran of t m many mapy py t timen times time In n his RO 10 O yc years years' rs' rs service ser In tho Iu In- In the tho chairman of ot assured red hIs Ills colleagues colleague's s that t the th C same 1 kind ln of leadership which ha has brought tho tho- steel Industry through many mariy a trying tr drig battle is- is carrying carr i It orward today pushing ah ahead ad sn sarie saneLy sane sane- Ly y and forcefully l laying the tho basis j. e for or or ora a greater and more solid pros pros- oh on page aJo 4 I S. S fJ PROSPERITY O ON 4 RETURN W O U. U j. j Sj I SCHWAB All S SAYS y t I I Continued d trO p l 1 rl th than woo h have b before fore p T. T y n wo to v. v e ever enjoyed Progress la born out of atthe the pains of ot economic adjustment the veteran veteran vet vet- eran erlln steel teel executive said In In discussing die dis cussing the general business situation situation situ situ- Tho The past twelve months hold the first real test wo have had I of our new American prosperity by which I mean the tho basic baslo factors underlying our higher standards standards' of living including mass production and distribution and high wages NO BASIC DASIC FAILURES It t Is significant that thero there has hn not riot been uncovered In our our economic foundation any basic basla structural failures Because of ot this I believe that business business' revival will bring to this country a a. larger measure of ot prosperity prosperity prosperity pros pros- than the American people havo have over ever before known Admitting that there thero Is marked unemployment in ce certain areas and lines of ot business Schwab called attention attention at at- at to tho the fact that a I number of tho the largo large Industries have parceled parceled par par parceled out their work and kept most of ot their employee on tho the payrolls The situation as a whole Is much Improved over ove what It Jt would be If It largo large Industrial layoffs were the ho practice he said STEEL INDUSTRY ACTIVE The steel Industry today is more actively engaged than ever before In my long experience with it it ft InI in inthe inthe I the cultivation and expansion of ot its markets in the tho stabilization of ot its policies and in the Improvement of ot Its plants and organization Moreover Moreover More More- over it is preparing to meet a greater future demand for tor our prodUcts products prod prod- than we have bare ever realized In Inthe Inthe inthe the past And when I say that wo We are moving forward I am not overlookIng overlook overlook- Ing lug the fact that there a aro aro o many at nt home hom and abroad who can see lee things only through spectacles darkened b by Immediate but butt transient tran transient alent gloom November Election Problems Offer Aid v WASHINGTON Oct 24 2 CAP CAP- AP Colonel Arthur Woods government go unemployment unemployment relief director s said ld today that approval of ot public works proposals total totaling InS InS' approximately to bo be vo voted ed Jn n about bout twenty states In November No would result In stimulation of ot Industry and go far fill toward relieving un Un- employment These issues Colonel Woods said sald are for varying activities and d g generally germ gen n- n orally would entail the employment o of a n. largo large number of or men men roods Woods said eld in his Ills opinion n the bond market was favorable avor ble for tor such Issues Nine states he ho said have before thorn m rn issues aggregating and cities counties or special die die- have ha issues totaling In addition lon to furnishing more work ork he said Industries pr materials and equipment for the projects would bo ho directly Other Industries and wholesale whole whole- wholesale sale and retail trade he ho held would be bo benefited by tho the increased purchasing purchasing pur pur- result chasing power that would t Colonel Vo Woods ds said while white ho h could not eo consistently give a recommendation as to tho the s sor of or each bond proposal h he did lI urge i tho the broad looking forward local loca cal leaders to study the Issues Issues' and If they were deemed sound to urge upon tho voters their pass passage |
