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Newspaper
Labor World
Location
Alton, Illinois, United States of America
Date
Aug 20, 1948
Page
2
The July issue notes large swings in corporate profits after taxes and employee compensation, with 1999 figures cited for quarterly annual rates and ratios to national income. It highlights rises in undistributed profits, consumer credit expansion from 1946 to 1948, and employment gains in the second quarter versus 1999, alongside stockholder trends.
The session approved twenty two million for a new public building space for U S Senators. It notes 96 senators and details wage hikes from ten thousand to fifteen thousand dollars a year for Senators and Congressmen plus a two thousand five hundred dollar tax exempt expense account. It mentions a tax reduction benefiting higher income levels and emphasizes strong rent control for the District of Columbia with localities gaining rental power.
At Lakewood Maine Republican State Committee meeting Congressman Hugh D Scott Jr of Philadelphia warned the Taft Hartley Act as a new test to liberty. He said the GOP will enforce the act and push further improvements under a new Republican administration. Scott noted he voted for the measure in the 6th Congress.
A report shows gains across 30 major companies from General Motors to Spiegel. Notable surges include Lehigh Valley up 248 percent and Skelly Oil up 141 percent, with many others posting double digit gains versus the previous year.
A sharp tone notes that the United States and Russia struggle, Britain faces severe financial strain, France wobbles, Germany nears collapse, and Mary and Britain’s uncertain role loom. The piece reports U S division on Russia policy and inconsistent diplomacy with Molotov, with broadcasters in the dark.
An elderly man walking before a couple spoke aloud in a serious, admonishing tone. He overheard a wife mocking her husband and slowed, tipping his hat with twinkling eyes, saying he must talk to someone sensible sometimes.
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