Show WEEKLY NEWS ANALYSIS wait and see attitude follows devaluation of pound walkouts Wal kouts plague major industry coal steel cars editors editor a N note ol 01 e when opinions would be affected are r eap exp expressed lesse d in ID these columns they hey are r tho those so of western newspaper r U unions n to n 6 news near analysts and not necessarily if strikes general e essa rily of this new newspaper american industry fighting to regain prewar pre war stability was facing alous times john L lewis coal biners f ners had left the pits the united automobile workers union had handed the ford motor company what amounted to a strike notice and now the steel industry was next WITH these basic US industries all down production suspended millions of workers out of jobs the national industrial and economic picture appeared dim indeed president truman was coming in for some blame in the steel industry dispute with critics charging he had fumbled the ball in efforts to prevent a strike four days before the deadline for start of the strike federal conciliator cili ator cyrus ching had reported no progress in negotiations neither side would bud budge bude e on the key point uthe fa negotiations the union contended that since tt it had agreed to forego its demands for a pay raise the steel makers should accept the presidential fact finding boards recommendations for or a company financed welfare fund while this seemed to satisfy steelworkers steel workers it please the ON the other hand the steel industry was buying newspaper space to claim that it was agreed at the outset that the presidential boards findings would not be binding on either party and that if a strike resulted the union would have to assume the responsibility steel leaders took the position too that the workers should contribute to the pension insurance plan costing 10 cents an hour fox for each man ARMS BILL meddling feared the billion dollars arms aid bill had a stalwart supporter in sen arthur R mich who termed it a bargain price peace insurance policy against communist aggression he said he feared that any meddling with the bin bill might impair its force and effect c chief h I 1 e f republican spokesman in the senate on foreign policy declared that the arms aid program might be regarded either as life insurance or fire insurance and said that in any case it is a bargain policy as far as peace is concerned referring to the north atlantic defense pact he said that pact included a pledge to maintain forces that can resist armed attack too he pointed out european allies have weaknesses that the arms bill would help overcome er conie declared that it would oe de in honorable keeping with US treaty obligations to adopt the arms bill 1 I think it is definitely and specifically in the interests of our own national defense he went on 1 I think it is a discouragement to war I 1 think it is prime and vital peace insurance he argued that the plan pan to 10 send american tanks guns and planes to europe falls squarely within the commitments of the north atlantic pact which the senate ratified by a vote of 13 he denied sending arms abroad would mean the start of an arms race between the east and west Vanden bergs active support tor for the measure was expected to help it materially in winning final adoption n the senate since many dissident republicans republicans would probably go along on the basis of Vanden bergs admitted stature in the field of foreign policy and because of his prestige in the senate BOMBERS gives reds pause the declaration came from a man whose qualifications entitle him to the rating of expert gen henry H arnold wartime chief of US air forces the statement made in a book global missions was that it armies or navies that russia fears but only tar far reaching bomber strength lets put it this way the general wrote russia has no nc fear ear of an army she thinks hers is just as good and bigger than any other in the world she has no fear of a navy since she cant see how it could be employed against her but she does fear our long range strategic air force which she cannot as yet match or as yet I 1 understand in the strategic air force coupled with our atomic bomb at this writing we hold the balance of power in the world but he warned by tomorrow the picture may change arnold minced no words in the dim view he takes of the russians the russians he says would have none of the american proposal that the american air force be allowed to build B 29 bases in siberia to attack japan similarly he recalled that agreement for bases in russian territory to be used for shuttle bombing of germany was ended after a short time by moscow the air force in the current squabble over armed service prestige as a result of the unification bill could take much solace and encouragement from general arnolds statements I 1 importers predict loss on inventory at t former prices to say that reaction to britaina Brit ains devaluation of the pound sterling was mixed would be an understatement instead reaction ranged from hope to fear from confusion to jubilant 1 I told you sos from all those who had held that devaluation was the only answer to brit ains current economic crisis AND that was the chief rub was the solution one that would solve just the current situation or was it the entire answer the bulk of the thinking on that angle was that it was not the long range panacea with most observers preferring to wait and see before committing themselves to any analysis of the deval devaluation devaluate uati on effect meanwhile canada had joined the parade of english connected nations de valuating the pound THE devaluation move was a two edged sword in the british dollar crisis for just as it might result in increased buying of british goods by americans because of lowered costs it would mean too that the english would have to pay more for the items they bought at home while expressing fear the move would cost them a great deal of money most traders said they know a thing yet and speculate until they had some word from british manufacturers SOME DEALERS and importers declared they would take a beating on the reduced values of their inventory of british goods already bought and paid for at to the pound UN TOP MAN soviets object over soviet protest brig gen carlos P communist anticommunist anti campaigner from the philippine islands was elected president of the fourth united nations general assembly only the five nations of the soviet bloc opposed his election IGNORING the soviet attitude romulus first act was an appeal appeal that the delegates make this gathering a real peace assembly according to newsmen yugoslavia apparently voted against the soviet bloc for the first time in the secret ballot for president but declined to admit it publicly the new president acknowledging that many obstacles to peace still exist said the danger of a new war had abated and that the delegates must press this advantage HE CALLED upon them to move forward boldly in the spirit of international ter cooperation called for by the mexican resolution approved unanimously in paris last year romulus choice as chief of the assembly was seen as indicating friction in debate on issues as the soviet bloc could be expected to fight the communist anticommunist anti leader at every turn where opposition could be maintained top russian delegate had also spoken out for harmony but on the basis of past performance by the russians his attitude was open to do doubt abt TRADE BODY corson carson okayed oklyed despite some vigorous republican opposition john J carson was confirmed by the senate as a member b er of the federal trade commission the truman appointee was confirmed by a vote of 45 to 25 carsons economic views came under heaviest fire from the republicans with many charging him with lack of sympathy tor for the american free enterprise system carson 59 is a former newsman among the arguments against carson was one by senator reed R kan who said here is an unfit appointment if I 1 ever saw one senator bricker R ohio declared that carsons thinking was fuzzy and that there was nothing to show he has any comprehension of the problems of the trade commission senator magnuson D wash led the tight fight for carsons confirmation and argued that carson was fully qualified for the post because of his experience as a newspaperman and a senatorial secretary RAILROADS one fireman the brotherhood of locomotive firemen and Engi nemen like it but nevertheless there would be only one fireman on diesel locomotives the presidential emergency board had ruled that a union demand for a second fireman on these locomotives was out of line rejected the demand THE BOARD said simply that there is no need for an extra fireman on diesel powered locomotives now in use COAL STRIKE spontaneous perhaps it was a fact perhaps it was preliminary to an alibi for united mine workers chief john L lewis if court proceedings should develop but whatever it was called the nations coal miners had quit work with the statement that the action was just an individual protest against cancellation cel lation of all welfare benefits LEWIS HIMSELF had cancelled the benefits charging that the tha mine workers welfare and benefit fund paid for by the operators had dwindled to a mere 14 million dollars lewis had stopped benefit payments until southern operators resumed royalty payments it was reported that the fund had been used at the rate of 10 million dollars a month a result operators charged of profligate spending by un union 10 n controlled trustees there has been no formal notice of a strike it if the walkout was a strike in fact officials stated that the spontaneity of action was not sponsored by the high command HOWEVER the no welfare pay ments no work walkout took hold in kentucky west virginia and pennsylvania fields and quickly spread across the country how long the individual protest would last depended apparently on whether lewis could come to some agreement with operators when negotiations were resumed RUSSIA A sweet note the russian theme in al accord was growing a little sweeter if andrei Y soviet foreign minister could be taken at his word WEARING a broad smile had urged united nation members to cooperate the gesture was made by the chief delegate as he arrived in new york by plane to attend the fourth united nations general assembly sessions disdaining ining the usual brusque no comment for reporters was almost voluble the soviet delegation he said is fully confident that the united nations is as the head of the soviet government stalin said a serious instrument for the maintenance of peace and international security then he added there can be no doubt that the general assembly would be able to solve the important problems before it providing the nations of the UN show a sincere desire to cooperate with each other and in accordance with the principles of the UN charter other delegates advised of this and remembering the almost innumerable russian vetoes in matters where cooperation might have been most valuable decided to await development at assembly sessions to see just how far the russian affable manner would go TALKS ford makes offer the ford motor company had made an offer in negotiations effecting a contract with the united automobile workers union the auto company offered a pension plan in line with that recommended by the presidential fact finding board in the steel industry dispute FORDS proposal would give workers pensions of 50 a month or more at age 68 exclusive of social security benefits and without employee contributions union sources estimated the value of the offer at about 8 vt cents an hour the seem jubilant over the offer it was reported holding out for either a better pension offer or more in the torm form 0 of f health insurance INDUSTRY GENERALLY was following fords actions closely because if the automobile manufacture ing firm followed the steel tact fact finding boards recommendations it would be the first large company to do so others thus far had refused released by features feature |