Memorandum, Notes on Meeting with Industry Group

Meeting With Industry Group At one o'clock the companies requested Dr. steelman to return at which time they handed to him the document which they had been preparing. Dr. steelman pointed out that this was the history of the New York negotiations and inquired if it was still an offer on the part of the companies. Mr. Fairless indicated that it was a history and could not be considered as an offer unless the companies had the same price understanding they had at the time they made the offer. Mr. Stowe inquired for guidance what the price offer was. Mr. Fairless at first was reluctant to discuss it but finally indicated that it was $4.50. THUNTAND He further indicated that at one time a flat 15€ in lieu of ARCHINES& "NATIONAL RECORUS ADMIN." step-ups was considered. He said that a price increase of $5.50 Co COVERAGE would have been necessary for this package. He made it clear that no offer was ever made or no price commi ttment ever confirmed on that basis. At this point Dr. Steelman recalled that he had asked Mr. Fairless representatives whether the $5.50 price would settle the thing and they had indicated to him that "they did not think it would". Dr. Steelman again inquired if the paper we had before us could be construed as a bona fide of fer to the union provided the price item would be $4.50. The companies indicated it could; however, Mr. Stephens pointed out there would have to be some changes made such as the contract date proposed, April 1, 1952 - April 1, 1953, would now have to be May 1, 1952 - May 1, 1953 and that the question of retroactivity would have to be re-negotiated since they would not be disposed to return to