Business: Iron & Steel

There are in the world just two exploited regions where vast iron ore deposits are so proximate to those of coal that cessation of iron and steel production at either one would—at least temporarily— wreck civilization. One of these regions is in the U. S.—iron ore at the head of Lake Superior, coal in Pennsylvania, West Virginia, Ohio and Kentucky.* The other is in the Rhine valley, where Alsace-Lorraine ore abuts on Ruhr coal.†

Last week the Rhineland coal and iron magnates, after two years of fitful dickering and two months of sharp haggling, agreed, at Brussels,...

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