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Newspaper
Cincinnati The Sun
Location
Cincinnati, Ohio, United States of America
Date
Aug 07, 1947
Page
1
New York reports steel monopolists announced price increases amid claims to boost profits. The move follows rising costs and targets broad market sectors, with industry sources citing aggressive pricing strategies and expected consumer impact.
An analysis questions a steel price hike as costly to users, noting 11 top producers earned over 104 million in Q1 1947 after taxes, versus 18 million in Q1 1946. U S Steel alone saw profits jump from 10 million to 39 million, with wage rises cited as a key factor.
Cincinnati living essentials for moderate income families rose to an all time high from mid May to mid June as the CPI gained 1.1 percent. Major groups aside from fuel electricity and ice drove the increase. The mid June CPI was 158.5 percent of the 1935 39 average and 62.9 percent above August 1939 level with a 19.9 percent year over year rise.
Reported secret Cleveland gathering July 10 hosted by the American Institute of Bolt and Rivet Manufacturers drew 200 Midwestern industrialists. Hartley touted a new law while Taft later disputed its coal contract interpretation. Critics note lobbyists and judges shaping the Taft Hartley era amid price-fixing and railroads reforms.
Cincinnati council delays action on Everett rent control plans and PR proposal on proportional representation until September 6 or a special session. Everett seeks emergency hotel rent caps and urges Gov to pursue eviction law fixes as rent hikes impact low income renters. The measures were sent to the Law Committee for study.
Nashua Mfg. Co. owned by Textron to lay off more than 2,500 workers, half the workforce, as weaving operations shift to southern mills in Alabama and other states. President Royal Little cites inefficient operation and higher New England labor costs, noting older workers and lower southern wages.
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