LABOUR MATTERS

Waikato Times, Volume 94, Issue 14613, 14 March 1921, Page 5

LABOUR MATTERS

SCOTLAND'S IRON INDUSTRY. A GLOOMY OUTLOOK. (Australian and N.Z. Cable Assn.) LONDON. March 11. The Scottish iron and steel manufacturers report tliis week's business as the worst on record. Continental quotations were much below those ruling at home. There was no alternative to closing' down, unless wages and the ecst of raw material were immediately greatly reduced. THE PINCH IN AMERICA. REDUCTION OF WAGES. (Australian and N.Z. Cable Assn.) NEW YORK. March 11. Probably 150,000 men are affected by the wage reduction in Chicago. It is ar.nouneed that practically every Western, and several important Eastern, railways are making reductions, in many cases to of 22 per cent, and never less than- 12J per cent. The movement is the result of extraordinary efforts to enable the railways to reach a Profitable basis, following their return to private ownership. After the war wages were greatly increased during the Government management, and when they were returned by the Government the companies were compelled to take up huge deficits. The workers' organisations are protesting by all available means, and plan to take a strike vote. The Federal Board controlling wages, must give its approval before the rerii ctions can-be enforced. The Board, in one or two cases, have refused to permit reductions, but it is felt that it probably will he compelled to approve of general reductions in order to save the railways from inevitable bankruptcy or at least acute financial stringency.