ACTION IN AMERICA
TO LIMIT HIGH SALARIES
BIG BUSINESS LEADERS
WASHINGTON, October IS.
'Action to limit high salaries of big business leaders was privately forecast in official circles today after the Fed» era! Trade Commission announced that it was asking 2000 companies to furnish data on the salaries of executive! and directors.
The inquiry, which, was authorised by Senate resolution, is immediately, concerned with gathering facts for Con« gress. What will be done with them will remain for Congress to decide. There have been demands from some members for a redistribution of wealth. How far Presdent Roosevelt is inclined, to go in this direction has never been definitely disclosed.
A ruling by tho Reconstruction Finance Corporation that no public money will be lent to railroads whose executives arc receiving' 100,000 dollars and over per year unless they cut the pay soon brought the compensation of three men, all well known in the railroad field, down, to tho maximum allowed—6o,ooo dollars.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19331020.2.110
Bibliographic details
Evening Post, Volume CXVI, Issue 96, 20 October 1933, Page 9
Word Count
160ACTION IN AMERICA Evening Post, Volume CXVI, Issue 96, 20 October 1933, Page 9
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in