Business: Deals & Developments

Labor in Business. To its 200,000 employes last week U. S. Steel Corp. made its annual stock subscription offer—200,000 shares at $27 a share, about the market price. It was the lowest offer ever made. Highest was $169 a share in 1930. Steel's workers are permitted to cancel their subscription with a refund of all paid up instalments plus 5% interest, thus protecting them against a slump in price. But to discourage this Steel has always in effect guaranteed dividends through payment of "special benefits" for a period of five years after the...

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