Show THE DAILY NEW YORK YORI F. F Financial i n a n cia I W Whirligig h i r I i 9 i 9 Written for tor The Telegram ram by JAMES McMULLIN NEW YORK YORK The The Iron and nd Steel institutes institute's broadside against the 30 hour week h had d a double objective Apart from furthering the thc campaign campaign cam cam- against one of industry's pet bugaboos it was designed to stir aUr up labor d discontent on the ground that this will thc remedy would leave the workers worse off arc offin in lii terms of real earnings Michael TIghe's prompt disclaimer disclaim er of oC steel labor opposition to the Federation c of or Labors Labor's grail fitted nicely into the institutes institute's m maneu ver vcr The latter said sald Steel mill mUt are reported generally against the thc me measure ure I If the thc Amalgamated Amalgamated Amal Amal- denies it it doesn't it imply that the union is 13 a a minor clement among the Workers There's Theres no point the institute would rather score Expert opinion holds that the hour problem hinges on re readjustment readjust readjust- ment meat of at world Wages to an equitable h ble level Forcing Forcin U U. S. S wag wages down to meet foreign competition would bring n a crisis at home The informed predict that If It this happens happens happens hap hap- pens by br 1938 1936 or 1940 the administration adminis will face a major political reckoning So the new deal has the terrific job o of fortifying the tle American position n in such a way as to compel a rise In the world wage vage level Instead Insiders say the current excitement excite excite- ment meat about the hour 30 week Is a trifle premature Labor started pushing for the hour eight day back in the but it didn't gain national national na na- na re recognition until 1918 This doesn't imply th the hour 30 week is 30 years Cars away but it unquestionably has a long pull ahead Meanwhile it gives labor leaders lenders a conspicuous target to shoot at and lots of publicity That comes in handy when you need to convince convince convince con con- vince restless followers that youre you're on the on-the the job Theres There's plenty brewing behind the scenes in the motor industry as the zero hour for code extension February 1 approaches The Federation of Labor hasn't yet said so publicly but Its It's preparing to cancel Its agreement to deal with the auto labor board The possibility of a strike to enforce majority majority ma ma- rule lurks behind this move The boards board's alleged favoritism f forthe forthe for forthe the Industrial viewpoint has ruined its usefulness On the other side note Donald significant statement that the industry should take steps to eliminate seasonal unemployment ment and ment-and and Chr Chryslers Chrysler's announcement announce announceS ment of a new production policy to that end The Industry Is anxious anxious ious bus to avoid the role of for the annual wage experiment and advice to step on the gas is taken seriously The auto makers are arc determined that their new code code if if any shall any shall protect minority representation and confirm the merit clause The Federation of Labor Laboris is equally determined to the con con- Both sides arc are read ready for lor fora lora a showdown It looks as i if a bitter bitter bitter bit bit- ter deadlock will be tossed in lap GoThe Go e eThe The American n Liberty leagues league's warning to congress against per per- le legislation is 3 another phase of industry's campaign to check labor Clay W Williams llIams and most if it his board agree with the league end and insiders understand that rg is lending strong moral support on the principle of meeting business business' wishes as far as possible Beneath the high sounding verbIage verbiage verbiage ver ver- biage about a time limit on emergency emergency emer emer- genc gency legislation is the Idea that labors labor's new deal gains can be more easily nullified when prosperity returns if they arc are kept on a tern tern- basis Labor knows this too too hence hence its strenuous fight for permanent enactment of or section in a stronger form wants to lo reassure business but dont don't make snake an any bets bet that he will hamstring labor to make a Liberty Liberty Lib Lib- erty league holiday S New York learns that the administration administration administration ad ad- ministration has scored a quiet but notable triumph on the bonus Th The dope is that the method of payment payment pay pay- ment meat will not be specified by congress con con- gress but left to This means borrowing or perhaps special taxes not not the printing press money desired de dc- sired by the Patman crowd Conservatives Con Con- are duly grateful S No January since 1930 has shown steel operations at such a n high level The best part put of the expansion Lj fj the Improvement it reflects in other industrIes Experts believe the high rate rale activity wilt will continue at least lest until April unless Interrupted interrupted interrupted inter- inter b by strikes Current production at 50 per cent of ot capacity Is actually closer to 53 58 per cent if iI obsolete plants arc are counted out No wonder steel leaders leaders lead lead- ers feel chestier than they have In years cars Old time Wall Vall will pill rate the depression de really ov when U. U S S. S Steel restores its ils full fuU preferred preferred preferred pre pre- dividend This miracle is In sight and may happen in April if it current gains are arc held Observers ers doubt t that tat al will be satIsfied sat sat- with so simple a symbol unless unless un un- un less les reemployment Jn In the Industry keeps pace S 9 Rigid regulation isn't the only grief in store for the holding com corn panics Insiders hear they will also be socked with a thumping tax on the dividends paid them by their operating subsidiaries Comment runs that the government is certainly cere doing its best to make hara hara- kiri kin attractive Copyright McClure Newspaper NewspaperS S. S Syndicate |