BETTER LABOUR SITUATION

Southland Times, Issue 23140, 5 March 1937, Page 7

BETTER LABOUR SITUATION

OPTIMISM IN U.S.A. STEEL STOCKS HIGH ON WALL STREET (United Press Assn.—Telegraph Copyright) (Received March 4, 10.35 p.m.) NEW YORK, March 4. Forty organizers of the Committee of Industrial Organization met at Pittsburg to plan a concerted drive to attain a universal contract with all steel workers for a single huge industrial union which would rival in size the United Mine Workers’ Union. The number of steel workers is now 550,000. It is announced that the General Electrical Company has agreed to hold a collective bargaining conference with the United Electrical and Radio Workers, who are affiliated with the Committee of Industrial Organization, on March 15 to establish a formula for a national agreement on a wages policy, recognition of the union and working conditions for the company’s 15 plants. Approximately 60,000 employees are affected.

In one of the most “bullish” demonstrations in recent history, stocks climbed over six points as a result of heavy public buying inspired by growing optimism over the labour situation in the steel and other industries. Brokers also reported a large increase in foreign buying. United States Steel (123 points), Allied Chemical (240), and Chrysler, (133) were among the stocks making notable gains, although the list as a whole responded to the improvement.

THREAT OF FURTHER COAST STRIKES EMPLOYERS’ ULTIMATUM TO LONGSHOREMEN

(Received March 4, 7.25 p.m.) SAN FANCISCO, March 4.. A new shipping tie-up was threatened when the president of the Waterfront Employers’ Association (Mr Plant) presented an ultimatum to the San Francisco Longshoremen’s Association that unless work was resumed on the coastal steamer Rochelle this morning the employers would suspend relations with the longshoremen, which would mean the closing of -the port. The Rochelle has been delayed since February 23 by a jurisdictional dispute between the unions.