The United States Steel Corporation, through its chief subsidiary, the
Carnegie-Illinois Steel Corporation, on Tuesday made concessions to organised Labour which are described as unprecedented in America's industrial history. By signing a one-year contract with Mr. John L. Lewis' Steel Workers' Organising Committee, it recognised, after a relentless fight throughout its existence, the principle of " industrial " or vertical labour organisation. The contract concedes a 4o-hour week and the raising of the basic wage from 16s. 3d. to Li a day ; similar concessions were made on the same day by five independent corpora- tions, including Bethlehem Steel. The steel industry had every reason for making such agreements, which will avert a strike of 500,000 men, while the industry is working under boom conditions and allow the six corporations to qualify for Government contracts by conforming with the Walsh- Healey Labour regulations. The wisdom of the decision, sudden and epoch-making as it is, is shown by the rise in U.S. steel shares on Wall Street, following the expectation of peace in the steel industry. This success for Mr. Lewis' " industrial " union may well mark the opening of a new era in the relations of labour and industry in the United States.
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