Glass strike Doubts about inquiry Will I.O.S. collapse?

we YESTERDAY'S announcement from Geneva of a 'definitive agreement' between Mr John M. King, chairman of King Resources of Denver, Colorado, and ailing mutual fund giant Investors Overseas Services, will do nothing to ease the growing crisis of confidence in Mr Bernard Cornfeld's former financial empire. Although Mr King has now said he can proide the cash to rescue Os," his announcemeni failed to mention his financial backers, the crucial factor in the IOS announcement statement added.

successful rescue operation.

Uncertain

So IOS's state of health King, rescuite "The Times' Business News (May 14) could confidently report King's arrival in London to sew up as in fact down with 4 id unable to make the tr cutimidst all the confusion one s shares are stil fater.

In London slide ¡e Nazis' He added that 'the US did not want S Vietnamese forces to become bogged down in "Vietnamization", leopardize This is the process under which S Vietnamese forces take over the duties of US troops.

The invading forces in Cambodia are now meeting much stiffer resistance. A five-hour battle was fought on Wednesday morning, when American infantrymen had to withstand a fierce attack by young Vietcong guerrillas on their base in the 'Fish Hook' area.

Meanwhile, in Phnom Penh, thousands of Vietnamese are being put onto S Vietnamese Navy vessels and taken down the Mekong to the Vietnamese border.

The pogrom of the Vietnamese minority in Cambodia continues.

One of the victims was a S Vietnamese Army corporal, who was beaten to death by a band of rightwing students.

Socialist Labour League and Young Socialists LENIN CENTENAR] PUBLIC MEETING Birmingham Sunday, May 17 7.00 p.m.

DIGBETH CIVIC HALL Speaker: *Letair League Admission 2s Lenin Contenary 1070 THEYEAR LAIN& TRUISK : second of two London lectures to mark the 100th anniversary of Lenin's birth the inquiry-now opened to all and sundry, including those retailing the allegations of 'terror tactics'—will be used by the Tory press to continue their witch-hunt against the strike.

Strike committee tréasurer John Potter, a St Helens Labour councillor, cast doubts on the inquiry's impartiality wileste seriss mass metins a senes of questions about its appointed chairman.

'Let * he said - it the inquirers, that Professor Wood is an active member of the Coninder terms settlement had setup a working paleo Monday, May 18, 7.30 p.m. " Lenin and the coming English Revolution' Lecture given by HEALY, natlonal secretary of Soclaltel: Labour Langua BEAVER HALL Garlick Hill, London, E.C.4 ar Mansion House tube stati Admission two shillings BUILDING INDUSTRY Secret jobevaluation talks A SECRET meeting between union leaders and employers to establish the use of job evaluation systems for the building industry was held last weekend -at Eastbourne according to this week's edition of the building trade paper 'Construction News'. ointeduncil for May £1,000 YESTERDAY'S post brought in f31 l6s 1ld.

We need £848 3s 3d by May 31 in order to complete target. would splendid if we could pull in a flood of donations this coming weekend.

Post your donations at once to:

Appeal Fund 186A Clapham High Street London, SW4.

'Blue' end shift LONDON docker members of the National Amalgamated Stevedores and Dockers' Union voted to end their opposition to shift working at a 4,000-strong mass meeting in West Ham yesterday.

But they rearmed their ban on overtime and weekend working in support of their claim for better terms in the second stage of the Devlin "rationalization' scheme.

The ending of the NAS&D shiftwork ban removed one of the major obstacles to the second stage of this speed-up agreement.

Docker members of the transport union have already accepted terms for the Devlin second stage. Negotiations between the NAS&D and the employers are to reopen on Tuesday. work out a job-evaluation system for the industry and they now wanted to 'share théir thinking with the trade unions'.

Points system

According to Professor Phelps Brown, head of the working party, a points-rating system was needed based on requirements of physical skill, mental skill, acquired knowledge, responsibility and job environmént.

On this basis '... a plumber would have total points evaluation of "115 compared with 58 for a scaffolder's labourer'.

Some of the reasons put forward by the employers for the particular need for job evaluation weré:

INTRODUCTION of the "balanced' gang principle in industrialized building. THE NEED to improve output and the progress of mechanization and REPLACING of craft processes by the simple fixing of factory-made materials and components.

The report states that trade union head George Lowthian said there would have to be 'counter - productive concessions' from the employers, but did not say what these would be.

Job reductions

At a time when thousands of workers throughout the industry are out of work the employers and • union leaders get together in secret to lay the basis for new methods which must inevitably lead to further ' giant reductions in jobs.

The introduction of job evaluation in the building trade is nothing more than a pay rationalization process in preparation for the introduction of Measured-Day Work throughout the industry.

Ottery strikers.

Not shaken However, none of their threats has shaken the workers' confidence.

The strikers are to meet again next. Wednesday, by which time they expect the strike to be made official by the General and Municipal Workers' Union, to which the majority of Otter Mills workers belong.

Share were siped

a were King Resources.

Liquidations

cash is continuing to pour out of IOS's 18 mutual trust funds. Liquidations during May have reportedly risén to $32 million over incoming cash from new sales.

With a cash outflow now said to be rising to $5 million cash in Kion e8i40 to look like decidedly small beer.

There is still no sign that after yesterday's statement King Resources is any nearer to gaining concrete support from American and European bankers.

Even if he is able to reveal the members of his consortium over the coming, weeks, European bankers will certainly look closely at their quality and status.

King, was to have signed an initial agreement his deal with IOS during Wednesday and, according to IOS, to present the list of backers.

Fighting shy

• many American financial institutions now seem to be fighting shy and servative Party? Is it true that Professor Wood helped to formulate the trade union proposals of Edward Heath, which would cripple the workers of this country if they are implemented ?' No comment has so far been forthcoming from Professor Wood.

this hostine despite ted solid pany's full-page advertisement n local papers yesterda] threatening jobs and déspite the announcement stewards loyal to the General and Municipal Workers' Union of yet another secret ballot.

'RIGHT'

'John Potter was right, several pickets told the Workers Press outside the key Canal Street sheet works, 'they could easily do a "kangaroo court" on us.' 'Anyway we're only going, back when Pilki's pay up,' added another.

Few pickets expressed any interest at all today in the secret ballot on a return to work called for Saturday by the G&MWU's St Helen's No. 91 branch and Livérpool regional committee.

News that it is to be supervised by clergymen of all denominations-'to ensure impartiality' — is greeted with derision.

Members of the strike committee, however, met regional officials of the G&MWU this afternoon in a bid to hammer out terms under which they could recommend participation in the ballot.