Last week U. S. business was producing at a level 12% above 1929. As a whole, it was close to capacity. In some key defense industries it was there already. The point at which the Army and Navy would exercise priorities over their non-defense customers was drawing closer.
First to approach the priorities zone was the steel industry. One day last week U. S. Steel's new chairman, Irving S. Olds, said that industry must be left alone. Next day he conceded that pressure might become so strong that priorities would have to be...
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