Profits Rise While Wages Lag In 1920s Era Outlook
The SUN summarizes inflation driven by monopoly and production restraint as labor economists warn of rising prices. The Economist Federated Press notes inflation in coal and steel, with profits at record highs. The Wall Street Journal cites an 84 percent surge in quarterly U S industry profits and Commerce Dept data showing 8.7 billion in after tax profits for the first half, more than double 1929 annual profits. Real earnings for wage earners trail profits.
MENTIONED IN THIS ARTICLE
America
Ing
Wall Street Journal
U. S
The
Commerce Dept
FTC Charges Steel Firms With Price Fixing Conspiracy
The Federal Trade Commission accuses American Iron and Steel Institute and related companies of a wrongful combination to fix and publicize identical price quotes for iron and steel products. The complaint names U.S. Steel, Bethlehem Steel, and other major subsidiaries as part of a scheme harming competition. A U.S. Steel spokesman reacted with shock.
MENTIONED IN THIS ARTICLE
Washington
America
Federal Trade Commission
FTC
American Iron & Steel Institute of New York
GR Wes Corp
Bethlehem Steel
Elnment Agency
U.S. Steel Corp
Steel price boost triggers 14 million jobless claim
The Journal of Commerce says steel price hikes were excuses to raise profits. It notes UMW wage gains raised coal costs but coal operators boosted prices, allowing steel firms to lift steel prices by 5 to 10 dollars a ton. Auto prices rose by about ten dollars per car, while GM added 60 to 168 dollars per model.
MENTIONED IN THIS ARTICLE
Journal of Commerce
U. S. Steel
Olds
United Mine Workers
UMW
Nati City Bank of New York
Iron and Steel
General Motors
Also Mentioned on This Page
Sumers
Economist
Federated Press
Reuther
New York City
Bey Youngstown Street & Tube
Nail. Steel
Weirton
Inland Steel
Jones & Laughlin
Gov
Detroit
Walter Reuther
United Auto Workers
5. Pollack
Drs. Schantz and
Stephen
Vine ST
Enquirer
Fanger & Rampe, Inc
Pearl & Broadway
All the Family
C.A.R.E
Britain
Europe
Austria
Belgium
Czechoslovakia
Finland
France
Great Britain
England
Scotland
Wales
North Ireland
Greece
Italy
Netherlands
Hungary
Poland
Rumania
Germany
Berlin
C.A. R.E
Pogue's
H. & $. Pogue Company
Cincinnati
Pogue
Pogue’s
H. & S. Pogue Company
United States
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