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The stockholders were asked to give their views to their directors as to. what could be done in the situation.
After calling attention to the hardships encountered in establishing the plant, the letter adds:
“Your directors felt that in view of the financial position of the plant and the fact that it was just getting started, they could not endanger the very existence of the business by giving employees something the business did not have. Wage increases cannot continue to be paid by borrowing more money.”
The board of directors letter, in' tended primarily for the stockholders who live at a distance and are not familiar with the situation follows:
“After weeks of negotiating between the management of the company and the Union (American Federation of Labor, Local No. 393) without satisfactory results, your board of directors met Saturday, August 2, iwith the conciliator, appointed by the government as the arbitrator in this base, and after careful consideration and due deliberation made the Union an offer covering wages and working conditions for all employees of the company.
“This proposal offered would have established va job classification system with i common labor rate of 93 cents per hour for men and 88 cents per hour for wom$n with a 4 cent increase between job classification above common labor, there being six of these job classifications. This would have given every employee with the exception of eight or ten an increase in pay. Those individuals not given ’ an increase would have taken no
.—,-.
Medium _..
Common _ Hogs, 180 220, top
Heavy _
Light _ Shoats _
Coiws __ Stocker cattle_ Baby calves_ 'Pigs ---
31.95- 33.00
26.50- 31.10
21.40
20.75
20.85
18.00- 20.20
per head
- $160-$272
--- 57- 117
- 8- 27.75
- 9.75- 14.75
70.1%