February 7 1931
Newton Steel reports its first deficit, in the amount of $437,000 while in 1929 the company made a profit of $1.9 Million
February 23 1931
It is announced that the plant will re-open on March 1st, after a complete shutdown of 8 months.
February 28 1931
Newton Steel announces that it will employ 200 workers in the following week.
March 24 1931
Newton Steel to seek the passage of a bond issue amounting to $10 Million
May 12 1931
850 workers are now employed at the Monroe plant. The amount working at the Monroe plant makes up 65% of the company ’s total workforce of over 1300
May 26 1931
Newton Steel plans to transfer 200 employees from the Newton Falls plant to the Monroe plant.
July 21 1931
Newton Steel Company decides to relocate its’ main office from Youngstown to Monroe.
A dispute over the pay rate for workers causes Monroe’s first labor strike. These workers were simply replaced with other workers after talks fail
August 1 1931
Workers on Payroll fluctuates wildly from 60 to 700 per week and pay rate is cut based on the amount of orders the plant receives
August 20 1931
The week leading up to this date the plant was shut down due to a lack of demand for steel
December 31 1931
950 workers are now on the payroll for the Monroe plant, but these workers are not working full hours.
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