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Labor Unions Said Big Business Paying
High Salaries With Large Investments
Editor's not: Bir unions are bic
butlne too. The labor reporter of
lb L'J. Washington bureau teUs how
bif In the lolloolnt dupateb.
By MAUREEN GOTHLIN
Unit.d Press Correspondent
Washington fU.R) How big
a business is the labor union
business?
Big enough for a number of
unions to have millions of dol
lars invested in government
backed mortgages;
For many to build expensive
headquarters buildings;
For some to invest in multi
million dollar housing projects
and office buildings;
For a few to invest in stocks
and bonds.
Several unions own or control
banks or insurance companies, a
couple have even lent money to
businesses, and one is engaged
In on outright business venture
with employers.
Big Salaries Paid
It's big enough for unions
with memberships ranging from
100.000 to one million to pay
their presidents salaries ranging
generally from $20,000 to S50,-
000 a year plus expense ac
counts, and for union leaders to
hold business meetings at the
most expensive resort hotels. It
is well-known that a number of
these leaders of workers ride in
chauffeured limousines and
some maintain several homes.
There is no accurate figure on
the net worth that has been built
up by the roughly 200 national
and international labor unions
from dues averaging around S3
a month from 18 million mem'
bers.
The total financial worth has
been estimated at somewhere
around $700 million, with an an
nual income of perhaps half a
billion dollars split roughly 50
50 between national and local
treasuries.
Pension, Welfare Funds
Several billion dollars, per
haps, could be added to this to
represent reserves of pension
and welfare funds which some
unions, alone or jointly with
employers, administer.
The money accumulated in all
health and welfare funds and
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pension trusts is estimated at
more than $30 billion with an
annual income of several bil
lion. But employers control the
administration of funds for
about 90 per cent of covered
workers.
The nation's largest unions
are the 1.250,000 member United
Steelworkers with almost S22
million in national treasury as
sets; the 1.385,000 member Unit
ed Auto Workers with almost
S35 million; the 1,500,000 mem
ber Teamsters union with more
than $39 million, and the 900.
000 member Machinists union
with $17 million.
Miners Probably Richest
Probably the richest union is
John L. Lewis' 400,000 member
United Mine Workers with be
tween S40 and $50 million in
assets, plus $130 million in wel
fare and pension fund reserves
jointly administered by union
and employer representatives.
The Steelworkers, Auto Work
ers and Machinists, like most
unions, own large and imposing
headquarters but keep most or
all of their money in cash and
government bonds for use in
paying strike benefits, legal
fees and other emergency costs.
The steel and auto workers
President Pampered,
Columnist Declares
Chapel Hill. N.C. U.P.) A
Washington columnist has criti
cized the press for "pampering"
President Eisenhower and for
a "tendency" to "look through
Eisenhower's rose - colored
glasses."
Doris Fleeson, Washington col
umnist for United Features Syn
dicate, told the North Carolina
Press Women Saturday that "the
press was often unfair to Presi
dents Truman and Roosevelt"
but that "it is better to be unfair
to a president than to pamper
him as they have done Eisen
hower." "The tendency of the press to
look through Eisenhower's rose
colored glasses and to overlook
the failure to give creative lead
ership," she said, "has given peo
ple a totally wrong idea of the
situation."
Miss Fleeson said the Eisen
hower administration was "dedi
cated to the status quo," adding
this was quite wrong and quite
dangerous."
Bad News Rebounds
On Telephone Caller
Hattiesburg, Miss. U.P.) Bad
news rebounded on J. T. Little
when he telephoned his son in
Albany, N.Y., to tell him of the
fatal heart attack of the son's
close friend, Julian Frye.
Little's son, Charles, 53. could
not be called to the phone, the
father learned. He had been
placed in an ambulance after
suffering a heart attack, and
died on the way to a hospital.
A MEMO FROM THE OFFICE OF
GENE THOMAS, MANAGER OF
OREGON FINANCE COMPANY
45 South Central Avenue
We hear that some banks and finance companies are short of
funds. We wish that good fortune would happen to us. We
could use a lot more good loan customers right now, and we
riave the funds to take care of them,
i
With all the companies offering practically the same thing, it
must be difficult for the person planning to get a loan to decide
on a particular company. We think our company does offer you
some advantages.
We are under owner management, and you do deal with the
owner when you come to our company. We are on the ground
floor (corner of 8th and Central) in a convenient location. We
have been in business here in Medford for a long time
since July, 1928, and the company is still under my manage
ment. We offer every type of loan plan that anyone in the
county has. Remember, we have them all.
We hope that we will have the opportunity to serve you.
Sincerely,
OREGON FINANCE COMPANY
By
Gene Thomas, Manager
have around 1.000 employees on
their national union payrolls.
Strikes generally are financed
ty local treasuries. But the Auto
Workers, for instance, paid out
more than S9 million in strike
costs last year to aid locals,
even without a big strike in the
auto industry. This expense re
duced its national treasury re
serves by $4.7 million.
Teamsters Shift Holdings
Under Dave Beck, the Team
sters union has been shifting its
holdings from government
bonds to higher -paying govern
ment - backed mortgages and
loans to business. The . union has
S3 1.8 million in securities, of
which at least half is in mort
gages and one fourth in govern
ment bonds.
The mine workers union to
day controls the second largest
bank in Washington. It has one
third interest in American Coal
Shipping, Inc., a coal export en
terprise capitalized at S50 mil
lion and launched jointly last
year by the union, a number of
coal producers and several coal
carrying railroads. The company
has had labor troubles since it
started because the UMW also is
signed to represent licensed
deck personnel on its ships. Mar
itime unions have objected, with
pickets.
Paid for Beck's Home
McDonald, Beck and Lewis
each receive $50,000 a year in
salaries, and enjoy chauffeured
limousines provided by their
unions. In addition. Beck's union
has paid for his $162,000 Seattle
home, and underwrites all travel
expenses for him, his wife and
whatever secretarial help he
wants to take along.
AFL-CIO Vice President Wal
ter P. Reuther is a personally
modest man with union money.
Reuther, head of the United
Auto Workers union, gets $18,
000 a year and has overruled
proposals to put him in a higher
bracket.
Adenauer Asks Reds
To Free East Germany
Bonn, Germany ,UP.) So
viet Premier Nikolai A. Bulgan
in told West German Chancellor
Konrad Adenauer in a note dis
closed Saturday that the only
way to reunite Germany is by di
rect negotiation with the East
German Communists. Adenauer
promptly rejected the idea.
Bulganin ignored Adenauer's
appeal to "set free" the 17 mil
lion Germans in the Eastern
zone of the divided country.
In his first brief comment, re
leased by the Federal Press of
fice, Adenauer confirmed that
there would be early talks as
B-ilganin proposed on cultural
exchanges.
Monday, March 25, 1957
MEDFORD (OREGON) MAIL TRIBUNE FIVE
ENJOY CAREFREE RETIREMENT witti no money worries
through Life Insurance careful!y planned NOW.
Ask the Man from Manufacturers for details.
District Representative
C. "CHUCK" COX
210 Elm St., Medford, Oregon - Tel.: 2-8420
'Commandments'
Said Worst Film
Cambridge, Mass. U.R) The
Lampoon, Harvard university's
humor magazine, today named
its "Movie Worsts of 1956." It
tagged "The Ten Command
ments" as the worst Hollywood
motion picture of the year.
Gregory Peck was dubbed
"Worst Actor of the Year" for
his performance as Captain
Ahab in "Moby Dick," while
Jennifer Jones won the dubious
distinction of being "Worst Ac
tress of the Year" for her part
in "The Man In the Gray Flan
nel Suit."
Bosomy Anita Ekberg was
awarded a special "Emilo Bos
coe "Award" by "Lampy," the
magazine's imaginary donor of
"Worsts."
Miss Ekberg was named for
having "breasted the tide of cri
ticism in regard for her triumph
ant inability to act by spreading
herself, in film after film, over
the cinemascope screen like a
great fleshy smorgasbord, prov
ing once and for all that delica
cy can be as un-Swedish as it is
un-American."
Rock 'n' roll singer Elvis
Presley was named "Worst Sup
porting Actor of the Year" for
his role in "Love Me Tender,"
while Anne Baxter got the
"Worst Supporting Actress"
award for her portrayal in "The
Ten Commandments."
International
Suez Control Urged
Chicago U.R) Rep. James j
Roosevelt (D-Calif.) suggested :
Sunday night that the United
States make an experimental of- ;
fer to place the Panama canal
under international control.
Roosevelt told an Israeli bond
dinner group that "at any rate, i
the time has come to insist on
the internationalization of the ;
Suez canal."
The Panama canal should be '
included in the process, if need i
be, to prove this country's goodj
faith in international affairs and i
to lend weight to America's pro- I
posal at Potsdam in 1945 that all :
strategic waterways be placed
under international operation,
he said.
Roosevelt also proposed that
the United Nations set up a Mid
dle East authority to distribute ,
social and economic aid to the
nations in that area.
He said the United Nations
should appoint "countries that
have no economic interests in
the Middle East" to operate the
authority under direction of the
world organization.
Douglas Fir Millmen
Plan Annual Sessions
Portland (U.R) Some 250
Douglas fir millmen are expect
ed to attend the 46th annual ses
sions of the West Coast Lumber
men's association which will be
here March 27 and 28.
How to sell more West Coast
lumber will be the main theme
of the two-day business sessions,
according to H. V. Simpson, ex
ecutive vice president.
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