STEEL: Reincarnated Rustless

A popular 1929 tipster stock was International Rustless Iron, whose 5,000,000 shares bounced up and down like a rubber ball. The crash put a tarnish on International Rustless; in 1932 its stock kicked around at 15¢ a share. Among burnt stockholders were tall, rusty-haired Yale athlete Charles Shipman Payson. socialite and horse-lover, and sturdy, up-from-the ranks Clarence Ewing Tuttle, a banker engineer from Hastings, Minn.

Aside from wanting to rescue their large investment, both men were sure the company's patents (on short cuts in making stainless steel) were an asset if used...

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