IN THE NEWS: After a meeting in New York's Waldorf Astoria, Commissioner Happy Chandler announces the creation of a pension plan for major leaguers. Player with five years experience will receive $50 a month at age 50, and $10 a month for each o the next five years. The plan extends to coaches, players, and trainers active on Opening Day. The plan will be funded by $650,000, with the teams providing 80% and the players the remaining 20%.
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