Business: Steel at Any Price

In the list of 15 stocks most popular with investment trusts, compiled annually by Frazier, Jelke & Co., Manhattan brokers, appeared a notable new name last week. Tied for 15th place with Westinghouse Electric was U. S. Steel, which was not in the list even in 1929, when the company made $197,000,000 and its stock sold at a high of $261 per share.* As it turned out, U. S. Steel was a good stock to avoid, for it sank to a Depression low of $21 and even at the turn of this year could be...

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