The Labor Statesman
data provider: CONTENTdm
alternative: [The Labour Statesman]
is referenced by: https://resolve.library.ubc.ca/cgi-bin/catsearch
is part of: BC Historical Newspapers
issued: 2024-01-31
issued: 1932-12
aggregated CHO: https://open.library.ubc.ca/collections/labours/items/1.0439315/source.json
format: application/pdf
note: r^^^-^aaamammm «**V". .Shorter Hours of work for labor will aid in making life and working conditions bettor for all who toil for a living. V Union Men of Vancouver district earn half » million dollars each month, and spend their wages at home with friends of Labor. Supported by Sixty-two Local Unions •No. 410 VANCOUVER, CANADA, DECEMBER, 1932 Price: Five Cents Bankers Take Over Direction ■1 of Labor Policy of Industries CINCINNATI.—A graphic picture of. how the big banks have become actual dictators of industry was presented to the annual convention of the American Federation of Labor Metal Trades Department, wjjich opened here.— ' _____ "One of our most serious problems has been created by the bankers' far- reaching influence in shaping industrial p policies," President James O'Connell and Secretary-Treasurer John P. Frey declared in their yearly report to the delegates. "Today, many corporations are unable to alter the terms of employment and conditions of labor given their employees without the banker's appropal." In addition to demanding the usual collateral when loans are made to industry, the report points out, bankers have for some time been requiring as one of the terms of the transaction that a representative of the bank be placed on the board of . directors of the firm securing the money. As a result, 16 banks in New York City alone now have their own men on the boards of 6,324 corporations, and they are increasing the list. ' There is scarcely a branch of industry where the banks are not actively directing labor policies of employees, O'Connell and Frey said. To bank up that statement, the names of the institutions and their directorate- connections are cited. "When," the report pointed out, "Chairman Albert Wiggin of the Chase National Bank informed the world, some 20 months ago, that wages must be reduced before prosperity could return, he was serving notice directly upon; Wiggin's Long Arm "Forty-two banks, 52 public until- ity companies, 99 transport…
note: Title changes in chronological order: The Labor Statesman (1924-04-25 to 1965-03), The Labour Statesman (1965-05 to 1969-09). From 1924-04-25 to 1965-03 The Labour Statesman was owned and published by the Vancouver and District Labour Council. From 1965-05 to 1967-07 it was published jointly by the B.C. Federation of Labour and the Vancouver and District Labour Council. From 1967-08 to 1969-09 it was published by the B.C. Federation of Labour.
has type: Newspapers
spatial: Vancouver (B.C.)
is shown at: 10.14288/1.0439315
language: English
lat: 49.246292
long: -123.116226
provider: Vancouver : University of British Columbia Library
publisher: Vancouver, B.C. : Vancouver and District Labour Council
rights: Images provided for research and reference use only. Permission to publish, copy, or otherwise use these images must be obtained from the Digitization Centre: http://digitize.library.ubc.ca/
source: Original Format : UBC Library
type: Text