Excerpts of the President's News Conference

I had a very agreeable call from Charles M. Schwab yesterday. I could not help but think as he came in and went out how well he represented the result of America. Beginning, as he did, with no property and with meager opportunities he has developed a great manufacturing plant for the service of the people of America and is doing considerable business abroad. He told me that he started the Bethlehem Steel works with $12,000,000 capital and now it represents $800,000,000 capital. I have forgotten how many employees he said, they run into the scores of thousands.