Word: railways
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...Railway Labor Act, once the model machinery for settling labor disputes through prolonged negotiation, mediation and sweet reasonableness, was a shambles. Mr. Truman was bitter, although the fact of the matter was that he himself and Franklin Roosevelt were as responsible as anyone for the wreck...
...second time in seven weeks, U.S. railway unions used a swindler's trick in their tangled, two-year contract fight. The key switchmen who make up trains in pivotal rail yards began reporting sick again in droves-first in Chicago and Detroit, then in dozens of other cities, east, west and south, around the nation. The effect was even more devastating than it was last December when Christmas packages piled...
Gone But Not Forgotten. Early this week, as the switchmen were joined by increasing numbers of other railway workers, a creeping paralysis gripped the nation. Passenger service almost everywhere was erratic or nonexistent. A fourth of the nation's 800,000 loaded freight cars were stuck on sidings all over the country. Industrial workers were laid off by the thousands. The most severe embargo in history was clamped down by the post office: nothing moved by first class mail which weighed more than eight ounces. Planes, trucks and buses were jammed with mail, freight and passengers...
...swept the market along was a wave of stock splits, which always make the market more inviting. On the same day that Standard Oil Co. (N.J.) announced plans to give stockholders 2 shares for 1, the stock jumped 1 3/4 to 100⅝. Next day Atchison, Topeka & Santa Fe Railway proposed a similar split, and its common soared 5½ to 165. All told, there were a dozen stock splits or stock dividends proposed or approved last week. Only a week before, three big oil companies-Phillips, Gulf and Texas-had split their shares 2 for 1, adding a whopping...
...August the government seized the railroads, strikes broke out again in December, and President Truman had to appeal to the strikers to get the Christmas mails moving. Court injunctions were issued but these have little effect in "unauthorized" strikes where the union disclaims responsibility. When the current "illness" plagued railway workers, Wilson literally told them that they had no right to strike. Does this mean that workers in essential industries are to be deprived of their biggest bargaining power? The answer must be yes, when their strike endangers national security...