Newspapers / The Charlotte Labor Journal … / May 8, 1947, edition 1 / Page 11
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• Compliments of CHARLOTTE BASEBALL CUR & AMUSEMEHT CO. 514 MacMli* St 6. S. HIUIRII1 & ASSOCIATES TAX CONSULTANTS Photic 2-2756 Cmplimenta ef HURT'S HEARERS, IK. = A COMPLETE CLEANING SERVICE O.D.’s DYED ALL POPULAR COLORS I 717 Nerth Graham Street 4-5194 MU I. HffiSCH & COMPANY 111 Saath Coileg* St. PkMM 2*1159 Charlotte, N. C. Distributors of Schrafft’s Chocolate* and Royaliat Cigars COCHRAN & ROSS COAL COMPANY Ml West Sixth Place ' Phone 7149 Charlotte, N. C. »■■■■* Dealers la COAL AND PIT GRAVEL TUNE IN WBT Fir These FAVORITES » % TAKE IT OR LEAVE IT LUX RADIO THEATER INNER SANCTUM TOUR HIT PARADE VOX POP KATE SMITH BABY SNOOKS Local GRADY COLE THE BRIARHOPPERS JOHNSON FAMILY SINGERS SPORT SPOTLIGHT ARTHUR SMITH AND HIS CRACKERJACKS FRED KIRBY CAROLINA HAYRIDE AND MANY OTHERS 5MM Walts CHARLOTTE, N. C. 1110 Ob Twr Dial Unless Prices Drop Recession Is Feared Washington, D. C.—Response to President Truman's appeal to bus iness to clash prices has been “here and there,” with no indica tion of a general recognition of his request. So far it seems to have evoked individual scattered reaction, but little concerted co operation. This was the over-all observa tion of economic experts who carefully awaited the reaction of business leaders to the Presi dent’s warning that prices must come down or wages must ' rise. - Mr. Truman’s Council of Eco nomic Advisors, at a recent con ference with the President and his Cabinet, warned that the threat of a recssion has grown since the first of the year and that im mediate adjustment of the key prices is imperative to avert a serious economic slump, it was learned . It was the Council’s report, contained in a confidential mem orandum to the President and discussed in a special Cabinet meeting, that led Mr. Truman, according to informed sources, to issue his urgent call for volun tary price cuts by business at his press conference the following day. The Cabinet agreed in prin ciple with the analysis presented by the Council and showed dif ferences only on points of em phasis, it was reported. An even gloomier Outlook than that of the Council was presented by Marriner S. Eccles, chairman of the Federal Reserve Board, who attended the meeting. The price structure was ailing and misshapen, the meeting was told, and there was no remedy except voluntary action in such key industries as steel, automo biles and building materials, in which prices respond more read ly to formal decisions than to suuply and demand. The President was advised also that voluntary price cuts to date had been far from adequate. The leaders in these cuts ware, never theless, praised for their pioneer in*. The President was also informed of the sharply rising rate of prof-1 its, which was described in this1 fashion: Profits in 1946 were 30 per j cent greater than in 1945. In the last quarter of 1946 they were 30 per cent higher than in the year as a whole. In the first quarter of this year, ending March 31, profits were 30 per cent above the rate for the last quarter of 1946. Profit after taxes in January, February and March of this year were at an annual rate of $15, 000,000,000, compared with a 1946 level of $12,000,0003)00 and. on a comparable basis. $7,000,000,000 in 1929. The danger, according to the Council’s statement, lay not in the rising rate of profits aver the years, since national income had also risen, bat in the tendency of profits to outstrip buying pow er on the incline. As a result of rising prices, purchasing power was dropping but profits mount ing, it was sai<L It was also asserted that prof its were exceeding the point which economists believe to be the rate of accumulation for which there was foreseeable capital expan sion. LEO E. KELLEF HIES AT 54; EDITOR FOR RAIL WAVNEN Detroit.—Leo E. Keller, one of the beat-informed men in the railroad labor movement, died here of a heart ailment at the age of 54, aftei a lifetime de voted largely to the interests of sectionmen on the ra Is. . He knew thetr problems first hand. Born at Falmouth, Ky., he was literally reared in a ’’sec tion.” His father was a mainte nance of way emloye who later rose to division roadmaster. At the age of 16. Lo was already working as a sectionman, on the Louisville A Nashville. This was between school terms. A few years later, he became a fence gang foreman and then an extra gang foreman. He then switched over to the train serv ice for two years, but returned to his old craft as a relief fore man at the Cincinnati Terminal. A member of the Waymen since his youth, Keller was elected sys tem-division secretary-treasurer in 1919 and three years later was brought in to headquarters as grand lodge statistician and re search director by former Presi dent Fred H. Fljoidsl. Keller was largely self-edu cated, but became a first rate economist, with a great flair for presenting the case of workers in an elfsctive, colorful manner. He literally could make statistics “talk." Hs helped in many a na tional rail wage movement. Just a few weeks ago he was appointed associate editor of the Waymaa’s “Journal,” upon the death of his friend, “Tom Dow nie. He eras also named director of public relations, and had groat plans for promoting the interacts of his organization. These wore cut short by his dsat.h SUBSTANTIAL DIETS AND JTARM COTHES FROM AFL REACH NORWAY ft AUSTRIA New York, N. Y—Mere suO stantial diets and clothing than they have had in a lone time has been provided to hundreds of workers’ families in Norway and Austria by presentation of 2,400 CARE food and blanket packages contributed by the Labor League for Human Rights, official relief arm of the American Federation of Labor. Matthew Well. AFL viee presi dent and head of the Labor League, announced the packages had been delivered in Oslo and Vienna by trade unionists of those cities, in co-operation with rep* resentatives of CARE (Co-opera* tive for Amerjpan Remittance^ to SIX—JOURNAL __ Europe, Inc.), a non-profit Gov ernment-approved organisation of which the Labor League is one of 27* member agencies. In Norway, 200 CARE food packages aad 200 blanket parcels went to widows of men killed lighting la the resistance move ment durta# the Nasi occupation, la Austria, 2,000 food packages were delivered te those active la in building democratic trade union organizations, Mr. WoQ said. Fourteen war-torn European countris are now open to CARE packages, which may be ordered from CARE, 60 Broad Street, New York 4, at $10 each. Avail able now are food, blanket, cot :on and woolen packages. De livery is guaranteed to individuals or groups in Austria, Belgium, Czechoslovakia, Finland, France, ilreat Britain (food only), Greece, Hungary. Italy, Netherlands, Nor way. Poland, Rumania and Ger many (American, British and French Zones and all Berlin). L K. mm, GROCER I03& Harrill Strwt MSN Send in Your Subscription Today. We Need Your Support. Greetings Mitchell & Becker Co. Iron Works 1916 SNA Boutemd Hal 2-4473 CtarMta, Mrtk Caroliaa GREETINGS ■ .& 600 West Sixth Street PHONE 3-11«4 Compliments of LAXTON CONSTRUCTION COMPANY, Inc. 127 Irmrt Cart TttopfeMM 4-5916 CHARLOTTE, I. G. r
The Charlotte Labor Journal and Dixie Farm News (Charlotte, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
May 8, 1947, edition 1
11
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