The Economy: Strike Shock Waves

THE ECONOMY

Either transit fares or real estate taxes seem sure to go up in San Francisco because of the costly settlement that ended New York City's twelve-day transit strike. Transit wages in the Golden Gate city are tied by contract formula to those in New York, highest in the nation. As a result, San Francisco's transit wage bill could rise by $572,000 a year next July 1 and by another $1,600,000 a year in 1967. Meeting that cost would require a 100 rise in realty taxes, from today's rate of $10.17 per $100 of valuation—or else an end to San...