BUS FINANCE PLAN OFFERED BY MAYOR AS TALKS COLLAPSE; State, City Yielding of Some Taxes Tied to New Set-Up for 5% Dividend Limit LINES CALL STEP TOO LATE Insist on a Fare Rise to Avert Dec. 31 Strike -- Union Balks at Conditional Contract Mayor Offers His Bus Finance Plan As Talks to Avert Strike Collapse
Acting almost at the same moment that union-management negotiations to prevent a New Year's Eve bus strike collapsed, Mayor Impellitteri made public last night his long-awaited plan to provide the financial aid needed to finance a forty-hour work-week for 8,000 members of the Transport Workers Union, C. I. O., on eight privately owned bus lines.