SALARY LIMITS FORECAST
POSSIBLE UNITED STATES ACTION.
FEDERAL COMMISSION’S INQUIRY. By Telegraph—Press Assn.—Copyright. Rec. 7.45 p.m. Washington, Oct. 18. Action to limit the high salaries of big business leaders was privately forecast in official circles to-day after the Federal Trade Commission’ announced that it was asking 2000 companies to furnish data on the salaries of their executives and directors. The inquiry, which was authorised by a resolution of the Senate, is immediately concerned with gathering facts for Congress. What will be done with them will remain for Congress to decide. There have been demands from some members for a redistribution of wealth but how far the President is inclined to go in this direction has never been definitely disclosed.
A ruling by the Reconstruction Corporation that no public money be lent to railroads whose executives were receiving £20,000 and over per year unless the pay was cut soon brought the compensation of three men, all well known in the railroad field, down to the maximum allowed, £12,000.
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Bibliographic details
Taranaki Daily News, 20 October 1933, Page 7
Word Count
167SALARY LIMITS FORECAST Taranaki Daily News, 20 October 1933, Page 7
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