OCR Text |
Show on sale May 1, the Treasury said. Stamps can be bought for as little lit-tle as 10 cents and bonds as little lit-tle as $25. Appropriation! President Roosevelt signed legislation le-gislation authorizing additional Navy expenditures of $340,526,-383, $340,526,-383, including $66,050,000 to complete com-plete air bases in British poses-sions. poses-sions. Congress voted $75,000,-000 $75,000,-000 more for defense housing and $22,500,000 for the National Youth Administration to train 450,000 youths for defense industries. in-dustries. The House passed and sent to National Defense Activites the senate the fitth supplemental defense appropriation bill providing pro-viding $4,073,810,074 for the Army Ar-my and Navy in fiscal 1942, including in-cluding $1,000,000,000 for 3,600 Army bombers. Labor Strikes The OPM Labor Division announced an-nounced the settlement of eight strikes in defense industries: Bethlehem Steel Corporation, Bethlehem, Pa-; American Chain and Cable Company, York, Pa.; Todd Shipbuilding Company, Galveston, Tex.; Union Electric Company, St- Louis Mo.; Dolese Brothers, Wichita, Kans.; Walworth Wal-worth Company, Boston, Mass.; Ray Day Piston Corporation, Detroit, De-troit, Mich.; and the Indiana Steel Products Company, Valparaiso, Val-paraiso, Ind. Secretary of Labor Perkins asked Defense Mediation Board action on four strikes: International Interna-tional Harvester Company, four plants, involving 24,000 workers; The Condenser Corporation, So. Plainfield, N. J., 2,200 workers; Vanadium Corporation, Bridge-ville, Bridge-ville, Pa., 225 workers; and the Universal Cyclops Steel Company, Com-pany, Bridgeville, 1,400 workers. The Board asked the disputants to resume production and pre- The National Defense Advisory Advis-ory Commission charged the office of-fice of Production Management Plant Site committee with "the main responsibility" in selecting locations for new defense production pro-duction facilities. The committee commit-tee will attempt to choose un-congested un-congested areas and regions suffering suf-fering a decline in peacetime industries in-dustries to distribute defense contracts more widely, and increase in-crease subcontracting to utilize all human and natural resources. It will also review plans already formulated. The Maritime commission announced an-nounced it favored extension of existing shipbuilding facilities rather than building new plants in order to avoid fly-by-night financing and further "dilution" or scattering of experienced management man-agement and labor. Defense Housing pare, to negotiate with the board. Shortly afterwards the Cyclops Company strike was settled- Congress authorized a defense housing insurance fund of $10,-000,000 $10,-000,000 with which to underwrite $100,000,000 in mortgages on defense de-fense homes. Construction contracts con-tracts for 2,400 new defense housing hous-ing units, largest number in any week, brought the total to 43,357 of which 25,377 are for civilian workers, 17,980 for enlisted personnel. per-sonnel. Defense Spending and Financing The OPM announced scheduled schedul-ed defense expenditures total nearly $40 billion, including $7 billion for British aid- Nearly $110 billion represents appropria- tions and authorizations already made and the rest is in bills now before Congress. Actual cash spending from last June to March 17 amounted to $3 5 billion, The Treasury announced income in-come tax returns reached $1,139,-000,000 $1,139,-000,000 in the first 20 days of March, far exceeding estimates. U. S. savings bonds and stamps' to help finance defense will go |