Prince Benefits in Wage Control Struggle
New Steel Demands; C.I.O. Protests on Wage Policy
Demands for wage increases in the nation's steel industry, in excess of what can be granted under the formula laid down by the Wage Stabilization Board, present the most serious challenge yet offered to the government's efforts to hold inflation in check on the side of labor costs. Although there is leeway under the W.S.B. formula for a steel wage increase of no more than five cents an hour,1 the wage policy committee of the United Steel workers made it clear, at the close of a meeting at Atlantic City on Nov. 15, that the union would seek an unspecified but substantially larger increase. Existing labor contracts in the steel industry expire ...