Business & Finance: Deals & Developments

Wages of Steel. The 200,000 employes of United States Steel Corp., from president down to puddler, last week heard what they had expected for some time. Another reduction of wages and salaries was ordered. In October wages were cut 10% after a 10-15% salary reduction in August, when Big Steel finally decided overhead must come down. The new cut was 15%, making a total reduction of 23.5% in the pay of 44¢ an hour which was considered basic in 1929. In addition most men are now working on short shifts.

Last year U. S....

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