davidaulloa/AmericanStories huggingface dataset:
The Birmingham age-herald., 1923-08-16
NEW YORK COTTON FUTURES
 NEW YORK, August 15-The marke; closed barely steady. Spots 25 s5c. un-
NEW ORTFANs COTTON

NEW ORLEANS August l5.-Rapid fluctuations carried the cotton market to- day, both above and below the level of yes terdays close, there being no decided trend. The close was characteristic of good part of the session, being 8 points up to 8 points down, net, with October trad ing at range of .s5c to 23 SIC a pound. Toward the end the realizing done by long appeared to furnish most of the selling
 On the opening prices were strongly higher on good cables, continued drouth and high temperatures in the western belt, and a private crop report which made the condition 63. per cent of normal and in- dicated deterioration for the half month of 6.6 points. After October touched 24 02c. much realizing came from the long side, and the market commenced to react. Hedge selling appeared and new selling for short account. based on pri- vate, forecasts of rain for the western belt. Soon after midsession prices were at their lowest. ' to IS points under the close of yesterday, with October off to 23 soc.
 Well after midsession aggressive buying appeared and caused a wave of short covering on which prices mounted to the highest levels of the day. October traded up to 24.1Sc. and the list rose to net gains Of 25 to S6 points. On the close little of this demand was left
The Birmingham age-herald., 1923-08-16
COFFEE MARKET


 NEW YORK. August 15.-The market for coffee futures very quiet today if traders were waiting to see whether the fixing of Rio exchange rates by Bra gillian bankers would have any especial ef- feet on the ruling of the primary mar kets.
 The opening here was to points higher and prices showed generally steady tone. with September selling at s .65c and March at 7.96c. Closing bids were the highest of the day. with the market showing net advances of to l3 points. Sales were estimated at about 5000 bags September S.65c, October S.45c, De- cember Toe, March 74Oc. May 725c July 1Sc.
 Spot coffee quiet; Rio Is, 109tc; Santos 4s, 12s. @l439c. Cost and freight offers included Santos 3s and 5s, bourbons. at 12 $ Q12&c, and part bourbon or flat bean al l2asc for prompt shipment.
 The official cables showed no change in Rio exchange on London. with a de cline of 30 reis in the dollar buying rate Rio was 100 reis higher to 100 lower and Santos 100 to 200 reis higher Brazilian port receipts, 50,Oo0; Judiahy receipts. 42,- 900. The weather was fine in Sa cmfwtt ] with temperatures ranging from 4s to 5O
The Birmingham age-herald., 1923-08-16
SUGAR MARKET
,-,.,, DkY GOODS

NEW YORK. August 1S.-More activ- ity was reported in cotton cloth markets today, with prices firm and tending high CT. The burlap market was weaker with more activity reported. The duck market was quiet. Concessions of 5c to 15c were offered on worsted yarns for spot delivery. Prices were firm on consignment orders. A brisk demand was reported for fall wool ems in jobbers hands. Local raw silk markets were unchanged. with slight ad- vances reported in Yokohama.
The Birmingham age-herald., 1923-08-16
COTTON REED orr.

NEW YORK, August 15.-Cotton seed oil was partly lower early. but the list turned strong in the afternoon on active buying and Texas account and urgent de-. mand from shorts inspired by reduced crop, prospects and higher lard Closing bids were 2s to Ss points net higher Sales. 2s,- 800 barrels. Prime crude nominal; prime summer yellow spot nominal; September lO.s s5c; December, 9.19c; March. 9.4sc,
The Birmingham age-herald., 1923-08-16
Hubbard Bros. & Co.

Members New York Cotton Exchange. New Orleans Cotton Exchange, New York Produce Exchange, Associated Members Liverpool Cotton Association. Or. Cotton and Cotton Seed Oil for future delivery. Special attention and liberal terms given Tor consIgumsnts of spot eot- ton for delivery.
The Birmingham age-herald., 1923-08-16
RICE MARRIED

NEW ORLEANS August 15--Rough rice firm; sales none. Receipts, 699 sacks: mil lers receipts, 499 sacks Blue Rose. 1s @
 4Bc; 79 pockets screenings. l hc; receipts, none. Bran, sS0 per ton; polish, $34 per
The Birmingham age-herald., 1923-08-16
FOREIGN EXCHANG.EI .I5,.

NEW YORK, August 15.-Forelgn e1- changes irregular oqotstS9ips Sias p 5e ffnis i5is gTsst Br5tain ssl ana 9s l5lG 4s Italy ana trs9se' 56fs Belgium. P 51 and { 5135 Ger many ,OOoo35 ard .eoqSSs;2 s2 s9isSen s%e5en, Ss 6S Denmark IS 65. Swit|eftan9' is 6s. spain, 13 6s. Greece l;5S. folano 49go
 O0O4N Czecho- -Slovakia z'Sz a; s, SIovaeia O1O6lA. Austria, O0l 5s, M mania, .43 Argentina, SS.2V' bfazli' ID T0 Montreal 'Q7 &.
The Birmingham age-herald., 1923-08-16

CHICAGO. August 15.-Armour of DeIa- monweaith Edison. 127$; Swift & Co., 1O0Z; Swift International IS; Union .Sis,- GsT- Manufacturing B, 246%; Yellow Taxi, 94.
The Birmingham age-herald., 1923-08-16
SPORADIC SELLING OF OIL SHARES ON GASOLINE SLASHES

NEW YORK, August 15-Intermit- tent selling of the oil shares took place in todays curb market as a re- suit of further reduction in gasoline prices, but the list displayed a firm tone and closing prices were gener- ally higher. In the oil group Prairie oil and Gas advanced 4 points on small turnover and gains of point or so were recorded by Southern, In diana and Eureka Pipe lines and Ohio oil. Standard oil of New York re- ceded slightly, but the other Stand ard oil shares showed moderate gains
 Publication of favorable semi annual earning statement by the Ar mour company revived interest in the he preferred stock which advanced more than 2 points. Brooklyn City Railroad came within a small frac- ton of the years high in reflection of the stock being placed on sl an nual dividend basis. Other active in- dustrials showed only fractional changes.
 Alvarado mining dropped to r. new low record on light offerings.
The Birmingham age-herald., 1923-08-16
NAVAL STORES

SAVANNAH, Ca, August 15.-Turpen- tine firm, S9H 9S9i4c. Sales. 50; re- ceipts, S96: shipments. 210; stock. 14,0S6. Resin firm; sales, 1,271: receipts. 2.lO5; shipments 2S0; stock. 101,125. Quote: B to l, S4.55; K, M. $4.571a; N s4.s5; VIC, S5.15; wv, $5.20.
The Birmingham age-herald., 1923-08-16
,rnNrv NIARKET

NEW YORK. August 15--Call moQey steady: high 3&, low A, ruling rate X closing bid A.. offered at 5, last loan rd,5. 7t loans firm; mixed collateral, 6O-S0s days 5Ixs4 to 6 months, 5A prime cottateral commercial paper, 5m5a4.
The Birmingham age-herald., 1923-08-16

JACKSONVILLE, Fla. August 15.-Tur- pentine firm, 9ohc; sales, 1oo: receipts, firm; sales. 2.15s; receipts, 1,Os7; ship ments' 800; stock. 114,s3e, Quote; B to II. f459is @4.55; I to Nj, ;4'55; \. s4.s0; we, So .15; WW, $5 20.
The Birmingham age-herald., 1923-08-16
ArrrAI MARKET

NEW YORK August 15.-Copper was easy; electrolytic spot and nearby, l4@ 441Ec; futures, 14014Ac. Tin firm; spot and nearby, 39.25c; futures, 3sc. Iron steady; prices unchanged Lead steady; louis spot and nearby delivery, 6-S0A1 s6 S5c. Anthony spot, 7.S5c.
The Birmingham age-herald., 1923-08-16
Stocks Display Strong Undertone Despite eay Selling OF Oa
NEW YORK CURB

NEW YORK, August 15.-Following is the official list of transactions on the New ork Curb Exchange, giving all stocks and bonds traded in.
The Birmingham age-herald., 1923-08-16
LIVERPOOL COTTON

LIVERPOOL. August 15.-Spot cotton in fair demand; prices firm. Good mid ding. 15 6ld; fully middling, IS .61d: mid ding, 16. Sed; low middling. 15. .I5d; good ordinary. 14.61d; ordinary. IA. s1d Sales ceipts, 11.o00 bales, including $500 Amer iean. Futures closed steady. August January IS. 40c, March IS 25c. May 13.11c July 12. 91d.
The Birmingham age-herald., 1923-08-16

creamery extras, 421Ac; standards, 42c; ex- tra firsts. 4O1a @42c; firsts, Ss @ S9c; sec onds S6@37c. Eggs higher; receipts. l2'- 546 cases; firsts, 25 26iaei ordinary firsts 2Sia e 24c storage pack, 2Shc; storage cl, firsfs. 2I iac.
The Birmingham age-herald., 1923-08-16
PORT MOVEMENT

New Orleans Middling 24 soc; receipts. 754; exports, 1; sales, 100; stock, 44sSi. 1,600; stock. 49,S49.
 Mobile; Middling, 24 25c stock. 541.
The Birmingham age-herald., 1923-08-16

PROVIDENCE, R. l.. August 15,-Pur- chase by the Jenck and Spinning company of all the property and assets of the Man ville company. cotton manufacturers, is expected to be accomplished at special meetings of the stockholders of both cor porations called for next week on Thurs day The transaction will UAite two of the largest cotton manufacturing concerns in Rhode Island.
The Birmingham age-herald., 1923-08-16
Short Market Flashes

HAVANA. August 15,-Havana bank clearings for Tuesday, August IA, were S261O,O15.17.
 WASHINGTON August 15.-The Mis- sissippi railway today filled an applica- mission for authority to construct a new line between Amory and Fulton, both in Mississippi The line would be 20 miles long and would form a junction with the line of the St. Louis and San Francisco at Amory.
The Birmingham age-herald., 1923-08-16
NEW YORK BONDS

NEW YORK, August 15.-Fouowing are today's high, low and closing prices of bonds ou the New York Stock Exchange, and the total sales of each bond:
 KalINnN md Miscellaneous
The Birmingham age-herald., 1923-08-16
TONnON MONFY
nNn0N
cHIcAGO STOCKS

ToNnONr Anpusf 1b-Bar BITVer, 81 9-16d per ounce Money. 2h per cent Short bfls, 3035A per cent. Three months bills 8 3-l6@3M per cent.
The Birmingham age-herald., 1923-08-16
BOND MARKET
UNITED STATES BONDS

(Un btOck LXchnnEe)
 Readers should note that Liberty bonds are quoted in dollars and thirtyseconds of dollars Instead of dollars and cents. The fractions are designated by giving the
The Birmingham age-herald., 1923-08-16
LOCAL SECURITIES
STATE AND MUNrcIUAL BONDS

SIAIE AND MUNILHUAL L5UNDS
 Bid. Ask Alabama S15s. 1856 .......... S3 ST Alabama 4s 1856 ............ 93 96 Alabama 4hs, 1930-s5, 4,25@4.4O basis City of Birmingham. 4.50G 500 oasis. Jefferson county. 450g5 basis. Jefferson county warrants 5.2596.25 basis.
The Birmingham age-herald., 1923-08-16
NEW YORK STOCKS

NEW YORK. August 15.-Following are todays sales, high, low and closing prices of stocks listed on the New YorN stoeA ENchangei
The Birmingham age-herald., 1923-08-16
FOREIGN BONDS

 Sales Gin S1000) High. Low. Close. Argentine Is. '23 99A 995s sss 2S Netherlands 6s ....lO2 101M 1011s Swiss 51ks ........ 9sh 98iz 5Sia do 5s ......#..... 5h 51L 55t Total sales of bonds S315. 000
The Birmingham age-herald., 1923-08-16
POULTRY

POULTRY Hens-Large, 23Q24c. Fryers-Large, bUc. Broilers--35 O 40c. Roosters-12c. Stags-20c. Ducks-l e 20c. Geese-10c. Guincas-36c. vurkeys-2bc. Eggs-2b @z6c.
 GRAIN
 Birmingham Grain Col No. 9 white-yellow corn. $l.2081.23 No. white oats. 6707Oc. Seven per cent cotton seed meal $44046 Wheat shorts, $43Q45. Bran wheat, S3s940. Corn feed meal S4SQ45. Cotton seed hulles, i5-lOO lb. sacks. s24 @26.
The Birmingham age-herald., 1923-08-16
OUer PriUafe Wires
HUBBARD's LETTER

NEW YORK. August 1b.- (special)- Further buying by large local operators caused another advance in the market this morning, which was at first checked by southern hedge selling, and was then fol- lowed by a reaction below last nights clos ing prices on the publication of the weekly weather report, which was not quite as bulIish as had been anticipated. The market then quieted down, ruling steady around last nights closing prices. So far the spinning trade has been only inter ested onlookers, as the difference between the price of cloth and the price of cot ton is so great that it Is impossible to manufacture except at a decided loss. The question, therefore. is whether the price of cloth will advance more than the price of cotton or will cotton decline to meet cloth. So wide Is the spread that the ma iority of manufacturers prefer 10 wait and watch developments rather than enter the market, even recognizing the probable small crop. Although quite a number are buying on this basis for fall delivery. leav- ing the question of price fixing until later on, on the idea that they will have a better view of what will be the answer to the present situation of the inequitahle parity between cotton and cloth. In tue late afternoon the market again advanced but hedge selling in the south was too much for it to absorb. Futures in Liver pool due tomorrow: October 1S.72d January IS, ,46d.
The Birmingham age-herald., 1923-08-16

KANSAS CITY, Mo-, August 15.-Butter eggs, poultry and potatoes unchanged.
The Birmingham age-herald., 1923-08-16

NEW YORK. August 15.-An increasing demand for American paper money on the part of foreigners especially Germans, is observed by American bankers. Financial advisers to the government. however, do not express any concern over the move ment, and there is no suggestion of pos sible government restriction.
The Birmingham age-herald., 1923-08-16
NEW NEW 0B7 ORLEANS E Ss COTTON FUTURES
SPOT COTTON

NEW ORLEANS, August 15.-spot cot ton quiet and unchanged. Sales on the 2S. 75c; middling 24 soc; good middling 25c. Receipts, 664, stock, 44,8S1.
 NEW YORK, August 15.-Spot cotton was steady; middling. 25 .e5c.
The Birmingham age-herald., 1923-08-16

Savannah: Middling 25.15c; receipts, 10; stock sSos.
 Charleston: Receipts fl; stock, 26,9s4. wilminEton: Receipts 24; stock. S,150. Texas City: Stock, 4.
 Norfolk: Middling 24 -6Sc; receipts 14; exports, 3; stock, 12,435
 Baltimore: Stock, 614.
 Boston: Middling, 2585c: stock, 5. 800 Philadelphia: Stock, 4,41s.
 New York: Mlddllng. 20 .65ci exports 5.S04; stock, 15.1S6.
 Minor ports: Stock. 2557.
 Total today: Receipts 1894; exports, Total for week Receipts, SO,75S; ex- Total for season: Receipts. sZ571; ex- ports, 62555.
 INFERIOR MOVEMENT
 Houston; Middling, 25e receipts ' 451 I; shipments, 1853 sales 6,169; stock, Ss,544 shipments, 1Ss; sales 25; stock 55,591.
 Augusta: Middling, 25c; receipts. l.; shipments s3 74S salss l4s stock 1211G 1So; shipments 140; stock, 4956.
 Atlanta: Middling, 4.6Oc. Little Rock: liiddling, 24c; shipments Dallas: Middling. z4 25c; sales. 1920. Montgomery: Middling, 24. 75c.
 Total today: Receipts. 7,6O4; shipments 5549; stock. 12S.196.
 SUGAR MARKET
 NEW YORK, August 15.-The raw sugar market was easier and lsc lower. with Cubss quoted at 4hc. cost and freight equal t9 5 soc for centrifggal There were sales of 1O,500 bags of Cubas for August shipment to refiner.
 There was further decline in raw sugar futures today under continued liquida- ton and selling by commission houses prompted by the easier ruling of the spot market and the poor consuming demand for refined. Final prices were at about the lowest and from to It points below the previous close, with September show ing the maximum loss. Closing: Septem- May 43c.
 There were no further changes in re- liners list quotations which are 2 soc for fine granulated but secondhand sugars are being offered from z roc to 7.75e. It was reported that 3,414 bags of refined sugar originally exported and brought back here sold at ' soc ex-dock. Refined fu lures nominal
The Birmingham age-herald., 1923-08-16

NEW YORK, August 15.-T4iYe poultry steady. prices unchanged Dressed poul- try Irregular; old roosters, 1SQlsc.
The Birmingham age-herald., 1923-08-16

CHICAGO, August 15.-Poultry alive unsettled; fowls, 16 424c; broilers, 27c; | springs 2sc; roosters, 14c.
The Birmingham age-herald., 1923-08-16
PnrATOEs

cHTCAGO, August 15.-Potatoes stea9S9 :. receipts. 31 cars total shipments, 4SSs ,a,.s T45ited H1e@S states No. 1, s1.95@2 .1qs ewt.; partly ai-ti graded s1.sO O go, ewt; Kansas sg 5e31- SO cwt: Minnesota sacked Early Gbto. S1 9bm1.45 cwt.
The Birmingham age-herald., 1923-08-16
sTEWARTs LETTER

BIRMINGHAM August 15.-Liverpool quotations came over about as due. with slightly better sales of 5000 bales. Spots were quoted 25 points higher. Manchester cables stated trade optimistic but unset tied over political situation. Our markets opened at an advance of 20 points over Tuesdays close and ruled very active dur Ing the entire session, the marekt being very sensitive to both buying and selling and after whipsawing all day the finals were slightly under those of last night spots were quiet and generally un- changed. Texas markets sold nearly 5000 bales yesterday at prices from 24 25c to 2b.15c. The weekly weather summary from Washington on Texas and Okla homa was poor Caroinas and Arkansas favorable and Alabamat and Georgia showed an improvement. This seemed to be interpreted as no worse than expected and resulted in considerable professional liquidation, causing a reaction of about however, to rally on fresh buying due to tions with temperatures of 100 to 110 and no rain. Miss Giles report. making con dition 63. 2, and V points deterioration for Texas brought about heavy short covering Liverpool and the south were prominent sellers in the early traders The cotton situation continues very bullish. but the foreign situation is equally as bearish and the trend of the market will more than likely be a trading affair awaiting further developments, but purchases of the distant months on good declines look the best.--S R. stewart & Co.
The Birmingham age-herald., 1923-08-16

ST. LOUIS, August 15.-Eggs, 25c. PonI' try unchanged.
The Birmingham age-herald., 1923-08-16

DULUTH, Minn.. August 15.-Closing flax septsmber, Se. 32 bid; October, s2 % asked: November S2 2sl4 bid December S2 25 l. bid.
The Birmingham age-herald., 1923-08-16

NEW YORK. August 15.-The steamship Olympic from Southampton today brought S1,54O 900 in gold specie consigned to J. P. Morgan & Co.
The Birmingham age-herald., 1923-08-16
MEATS

(SWlit & Co.) Silver Leaf Pure Lard-Per h., 1SAc. Jewel Shortening-Per h., l24a Q lSc. Broohfield Butter-Per lD. 4Sc. Premium Skinned Hams-Per h., 27c. Premium Regular Hams-Per h., 27c. Pork Lolns--Ter h., 2OV22c. Bacon-Psr h.. 2b032c.
The Birmingham age-herald., 1923-08-16
PRoDI-CE AND POULTRY

NpyW YORK, August I5.-Butter IlrIn' receints 1S263 Eggs irregular; receipts, a0, s64. fresh gathered extra fiEsts ,a Sl F State whole milk flats. fresh, average run, 24%c.
The Birmingham age-herald., 1923-08-16
HInEs ANn unnI

IIIDEd ANU WOUL No. Green salt Hides-Sc. No, 2 Green salt Hldes-7c. No. l Green Fresh Hides. 6c. No. 2 Green Fresh Hides-6c. No. 1 Dry Flint Hides-13c. No. Dry Flint HIdes-l2c. No. l Dry Salt Htdes-l2c. No. 2 Dry Salt Hides-1lc. Sheep Skins-l5c @Sl. Goat Skins-lOQ Q3Oc. Hog Skins-10Ql l6c. Horse Hptss-S1 Q2. 50. Tallow-4 e 6c.
The Birmingham age-herald., 1923-08-16
FLAX SEED

MINNEAPOLIS. August 15.-Flour un. Bran. S22Q22.5o.
The Birmingham age-herald., 1923-08-16

NEW YORK August 15.-Produce ar ticles unchanged.
The Birmingham age-herald., 1923-08-16
RAW SILK

NEW YORK, August 15.-Raw silk IT. regular. Prices per pound. Kansai double extra cracks, S7 S7.65@7.75; Kansai best No l, s7.1007.20; Kansai No. l filler. S7,05@ 2. 16; Shinshu No. 1, s7@7.10; Canton ex- trass. 14-16. s707.1O; Shanghai China steam filler. gold double deer, Ss. 5OQ9.10
The Birmingham age-herald., 1923-08-16
STEEL
FLOUR

NEW YORK, August 15.--steel un-
The Birmingham age-herald., 1923-08-16
MISCELLANEOUS BONDS
BANK SToCKs

Amer. TT. 6 Saw Bank ..21O 225 Bir. IT. & Say. Co. .......225 25O
 Fed. Bks & TT. Co. (par 1O) Q. 10 Il FirstNat Bank ......,......32O 335
 x. Bham IT. & Say. Bank ....16O 165 Traders Nat. Bank ........--- 2nn 22h
The Birmingham age-herald., 1923-08-16

HORSES AND MULES EAST ST. LOUIS. Ill.,, August 15.-Mules and horses steady. Quotations unchanged.
Evening star., 1923-01-06

JOPLIN, Mo-, January 6.-The tri-
state lead and zinc field shipped the
largest tonnage of lead ore in its
history in 1922 and the second largest
output of zinc ore. The value of the
o,,tnut uac S15 TS7 S07
Evening star., 1923-01-06
NEW YORK CURB MARKET
Received by Private Wire Direct to The Star Office

each share OF Fensland. Lyons Pc
| troleum ran up sharply AID held the
greater part of it's gain. The basis
of exchange for this company's stock
will be at the rate of fifty shares of
Lyons for each share of Producers
and Refiners.
Gulf Oil of Pennsylvania and Nam
moth Oil were strong spots among
the soil group and ran up almost 2
points. but subsequently reacted from
their highs with the rest of the list.
Realizing sales brought about de-
clines in the Durant issues, and Cleve-
land Motors common and preferred
slipped off fractionally. Phoenix Ho-
siery continued in good demand at
higher prices. The new Fleischmann
stock opened where it had left off
| Friday, selling up to 33k. Then heavy
profit taking set in, and the stock
sold off a point. Still. the large over
subscription-the average applicant
| received only about IL per cent of
what he had subscribed for-contin-
ued TO make good impression.
Evening star., 1923-01-06
RET|CENT ON REPORTS
OF FS37O,OOO,OOO MERGE
President of Standard Oil Com
pany in Indiana Refuses to
Deny or Affirm.
By the Associated Press.

By the Associated Press.
CHICAGO. January 6.-W. NJ. Bur
ton. president of the Standard Oil
Company Of Indiana. today refused to
affirm or deny that merger of his
company with the Gulf Oil Corpora :
tton had been effected. Statements
of either character. he said. must
come from Col. Robert W. Stewart,
chairman of the board, now on trip
in eastern cities.
E. G. Seubert. secretary-treasurer,
denied all knowledge of the trans
action, but admitted such negotia-
tions might have been under consid-
Grafton by Col. Stewart
Bankers say the merger, if COM
pleted. would be one of the largest
business deals on record The two
companies have combined capitali-
cation of S370,000,0OO.
The Gulf Oil Corporation recently
increased its capitalization from s36'-
100000 to 1925. 100000 and reduced the
par value of shares from 500 to $25.
twelve new shares were traded for
each share of old.
Evening star., 1923-01-06
NEW LABOR UNION PUTS
NO LIMIT ON PRODUCTION
Increase in Output Brings Larger
Pay to Railway
Shopmen.
By the Associated Press.


CHICAGO, January "a labor cor-
poration, said to be the first organ
lzation or its kind, has been formad
oy former labor union members ~
tne locomotive shops of the Cleveland,
0incilnari. e1id' Cnicago and st. Louis rail-
way at Beech Grove, Ind, according
to an article in the Railway Review
Group bargaining on the basis Of
units of output has replaced coIIec-
I tive bargaining on a day work basis
IN the new organization. known as
the Association Employees of Beech
Grove, Inc. The labor CORPORATION is
incorporated under the laws OF Indi-
ana, is not for profit and has about
1900 members.
Instead of limiting the days output
organization is to increase the daily
output of individuals and thus in
crease their earning power. Accord
ing to the Railway Review, operation
OF the new plan has increased shop
| production about 25 per cent in three
months, using a smaller working
force, the same equipment and the
same supervisory staff while wages
of employees have been increased
above the scale authorized by the
Railroad Labor Board. and production
| costs have been reduced.
Under the plan. operations are car
| ried on as far as possible under in
| dividual subcontracts, constituting
| a system of group bargaining, the unit
| of output instead of the unit of time
\ being the basis of compensation the
| unit schedules for various kinds OF
| work being the subject for mutual
| agreement. The new plan was adopt
| ed after a long series of labor dis
putes at the shops which finally re-
| suited in the shop work being con.
/ tracted out by the railroad to the
| Railway Service and Supply Corpora.
tion. Twelve rules have been sub
] stituted for the 1856 Railroad Laboi
Board regulations governing work.