GLOOMY OUTLOOK
CONDITIONS IN GERMANY
SERIOUS ECONOMIC DEPRESSION
REDUCTION IN WAGES
(United Press Assn.—By Telegraph—Copyright.) Berlin, June 3.
An economic depression is engulfing Germany, leading to wholesale wage reductions. Seven thousand Becker workers had their wages reduced 10 per cent., while the Mansfield Corporation, controlling more than 90 per cent, of the German copper production, insisted on a cut of 15 per cent.
Fourteen thousand workers have been locked out, following the provocative action of Communist pickets, by the textile and machinery manufacturers in Saxony. Experts believe that between 2,000,000 and 3,000,000 workers ultimately will be affected by the wage cuts. The production of iron and steel is the lowest since 1925. It is feared that strikes and lock-outs will assume gigantic proportions ip the coming months.
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Southland Times, Issue 21101, 5 June 1930, Page 5
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127GLOOMY OUTLOOK Southland Times, Issue 21101, 5 June 1930, Page 5
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