Salt Lake Telegram | 1935-06-06 | Page 5 | Broker Urges Trade Security

Points Way I I g j ir lir 1 S Charles R. R Gay BROKER URGES TRADE SECURITY NEW NEV YORK June 6 A UP-A gigantic gigantic gigantic gi gi I gantic jam of accumulated wants and buying power waits to be re released released released re- re leased Charles R. R Gay president ol of oC the New York stock exchange said sale today The The The- only way in which this re release release release re- re lease can be accomplished he said In n an address prepared for delivery before beCore the chamber of or commerce of the state of New York is by satisfying satisfying satis saUs the conditions under which I private business can afford to take I risks s. s Three conditions he named Freedom for management a a greater great great- er sense of oC security and an abatement abatement abatement abate abate- ment of ot the hostility toward prof prof- its Ho cited studies of the durable goods goodz backlog The most conservative conservative conser conser- estimate showed a capital capita goods deficit for the depression o of The highest estimate was Between these two we find the estimate of the national national na na- na- na lional Industrial conference board with an aggregate of he said These figures Gay said indicate an assured pathway out of tho the dc do- n. n Assuming a a. 1929 rate of output it would require over three and a half years to meet the deficiency in private residential construction am and practically three years to compensate compensate compensate sate for tho the pause In commercial and industrial construction Gay i declared no substitute can adequately adequate adequate- ly Iy replace the natural action o of I private enterprise Pointing out that the N R It A decision decision decision de de- de- de of the supreme court had suddenly changed the whole trend of oC our economic outlook Gay said sard its full tun meaning as yet cannot be fully appraised He urged sobering considerations considerations lions to those who have exultantly exultant nt- nt ly hailed their constitutional triumph triumph tri tri- and asked them not to question the motives or disparage the efforts of those who planned and administered the tho N R It A. A