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Arthur S. Meyer was a member of the New York State Board of Mediation from its inception in 1937. In 1940, he was appointed as its chairman, a position in which he served until his retirement in 1950. Before becoming a mediator, Meyer was a successful businessman, rising to the posts of president and director of the Schulte Real Estate Company and vice-president of the Schulte Retail Stores Corporation. In 1942, Meyer was named chairman of a U.S. War Labor Board panel to rule on the demands of the Steel Workers Organizing Committee for a raise of one dollar per day and union security. The recommendation of Meyer and his committee formed the basis for a subsequent Board ruling known as the "Little Steel Formula".