In 1929 the IBEW moved into its new office building at 1200 West 15th Street, NW, Washington, D.C., in January, and the IBEW Convention held in Miami, Florida, re-elected President James Noonan, and adopted a retirement plan for International Officers and Organizers, as they were referred to at that time.

It was the last convention held until 1941 because of the Great Depression bearing down on the nation. Herbert Hoover, the third consecutive Republican President beats the Catholic Democrat, Al Smith of New York, 21 million to 15 million, and announces his intention to fulfill his campaign promises to widen existing prosperity, promote relief for farmers, strengthen protective tariffs and continue prohibition. His anti-labor, pro-business philosophy called for aid to big business in order that money would "trickle down" to the people, reducing income taxes, and stressing economy measures.

The economy is slowing quickly now, steel and automobile sales slowing monthly, although the common stock price index peaks at 216 in September, the climax of a three-year bull market. On October 24th and October 29th, twenty nine million shares are sold at declining prices on the New York Stock Exchange. Some, who have seen their fortunes vanish, kill themselves.

By January 1930, with the economy sinking, agriculture and commodity prices falling, national income from taxes collapsing, four million nationwide are unemployed. Local 103 has about 300 men unemployed, about 33% of the membership, which is also dropping quickly. Unemployment will climb to 37% in February. In slow, cold periods in the past, unemployment never reached 25%. Unemployment averages nationwide are running about 51%.

The lower figure in Boston is due to the work on the Weymouth and Woburn Edison stations. Business Agent Capelle, after many meetings with Edison, wrangled an agreement to let 103 men do the finish work after the completed roughing of conduits, and fibre duct work. It is the first time union electricians are working inside Edison property after the construction is completed. From its inception with the first Edison station, (capacity of 150 H.P. in 1886) through 1930, (capacity 400,000 H.P.), all the finish and maintenance work was done non-union, when let out to contractors. Until now, union contractors were not allowed to even bid this work.