Business: Bethlehem's Bonus Battle

Since Bethlehem Steel Corp. was formed in 1904, its spirit has been that of big, voluble Charles Michael Schwab. Unpleasant to Chairman Schwab is the successful way in which Cyrus Stephen Eaton has blocked Bethlehem's attempts to merge with Youngstown Sheet & Tube Co. Unpleasant to Chairman Schwab has been the recent challenge of minority stockholders who decry the bonus plan which in 1929 gave President Eugene Gifford Grace $1,623,000 and that much again to lesser executives. Of this latter unpleasantness, a phase which developed last week must have been particularly unpleasant...

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