California was running a ballot initiative to become a "right to work" state which would effectively neuter the unions.
Obviously the Screen Cartoonists Guild recommended voting against it.
The bulk of the newsletter is a letter from Earl H. Freeman. Perhaps a historian (or better googler) can shed some light on who this man was. He was clearly in the military while writing, although he signed neither rank nor regiment. From the sounds of it he was probably a story man.
The letter goes on to criticize propaganda in motion pictures which "emphasize traits of character which we would be led to believe are inherent in the race, and therefore it has preached that the race as a whole should be an object for our scorn."
The letter is interest to those studying propaganda/racism in cartoons. It's a primary source of an individual's reaction to what he's seeing on screen.
Page three wraps with INBETWEENS. George Cannata "cartooning in New York". Some marriage and birth announcements.
Then an SOS! If anyone knows of a house or apartment suitable for a family of three contact the office.
If any New York group ran such notices the whole paper would be consumed with artists looking for places to live.
The Guild Gallery Exhibit had such a low number of submissions it was cancelled for a solo show of watercolors by Charles Payzant from Disney.
The Guild also announced an open competition for logo design. The winner would receive $5. The rest, cold comfort -if that. I wonder what protest letters popped up around the water cooler about this one.