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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
May 05, 1948
Page
2
New York 125000 General Electric workers resume contract talks with United Electrical Radio and Machine Workers. Union seeks substantial wage boost citing a $13 weekly erosion in buying power amid rising living costs. GE says wage hikes would fuel inflation and hinder price cuts.
The government works on draft rules to shield hard to replace aircraft industry workers from conscription. Manpower director James O'Brian and plane makers were asked to list jobs that merit deferment under a possible future mobilization.
The Veterans Administration announced GIs in training or attending school will see pay raises up to $90 monthly, retroactive to April 1, with first increases by July 1 and further increases by August. The change raises monthly income ceilings for combined pay and federal subsistence under the GI Bill.
China faces a yuan collapse with a 1,000,000 to 1 ratio against the dollar. The currency’s value has tumbled, eroding former parity with 50 cents per yuan a decade ago. Reports from Nanking note dramatic shifts amid ongoing conflict and economic upheaval.
Death notices list Reuben Alexander Lewis 52 founder and publisher of Finance magazine and former NYC and DC journalist and Chicago banking official. Exeml Waldo Beacu tz widow of a clergyman and mother of Leonard Bo Breach head of Oklahoma English. Robert F librarian at Evanston Methodist Divinity School. W Waldo Duke University ethics professor in New Haven. Dr Boris Rapoport 60 leading anesthesiologist dies in New York City from heart ailment.
New York cap price index at the highest level since February 3 with a weekly rise from $6.76 to $6.86. Breadth of gains spanned flour wheat corn rye oats barley beef butter and coffee while declines appeared in ham sugar hogs milk.
John T. Lewis petitioned a federal court to block a pension payment ban sought by soft coal operators. Trustee Fara Van Horn backed the move to halt $100 monthly miners’ pensions under a compromise plan approved by Lewis and Bridges but opposed by Van Horn.
United Mine Workers leader said Van Horn acted with unclean hands as a trustee and failed to present any pension plan under the works contract reached last July after months of negotiations. The federal court was urged to throw out the petition.
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