WAGES REDUCED.

New Zealand Herald, Volume LXVIII, Issue 20986, 24 September 1931, Page 9

WAGES REDUCED.

LARGE AMERICAN CONCERNS PRESIDENT DISAPPROVES. GRAVE TROUBLE PREDICTED. By Telegraph—Press Association—Copyright. (Received September 23, 5.5 p.m.) NEW YORK, Sept. 22. The United States Steel Corporation today announced a wage reduction of about 10 per cent., to be effective from October 1. The Bethlehem Steel Company and the \ oungstown Sheet Tube Company have also announced equal salary and wage reductions, to start from October 1, while General Motors states that all - salaried employees will receive cuts of from 10 to 20 per cent., with the possibility later of wage reductions. The United States Rubber Company has instituted a five days working week, with a 9 per cent, wages cut. The United States Steel and the Bethlehem Steel Companies' moves affect a total of 281,000 persons. The President, Mr. Hoover, and his associates are, it is alleged, highly disappointed that the reductions are made, and the Administration will continue its opposition to reductions. The Secretary of Commerce, Mr. R. P. Lamont, and the Secretary of Labour, Mr. W. N. Doak, both expressed disapproval. The Secretary of the Department of Commerce, Mr. J. Klein, reaffirmed his recent assertion that there would be grave trouble throughout the United States if wages generally were reduced.