Business: Coming: 10,000,000 Tons

Last week it looked as though the steel-capacity fight (TIME, June 2, June 9) had ended in victory for the expansionists. Plans were started for 10,000,000 tons of new capacity, which should be ready not more than two years hence. That meant that, right now, U.S. civilian steel users will have less steel, not more.

Ben Fairless, Eugene Grace, Leon Henderson, Jesse Jones, John Biggers and Samuel Fuller of 0PM, and James Forrestal of the Navy, agreed to the expansion in two "secret" meetings, from which the news leaked out as quickly as if they had met on the Capitol steps. The...

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