The Balance Sheet

One week after the end of the steel strike, production of ingots was scheduled at only 268,000 tons, or 15.2% of capacity. Although many a plant was pouring far faster than expected, full production was still three weeks to a month away, at best.

Nor was the strike entirely ended. Last week most of the hundreds of fabricators and processors, employing some 350,000 workers, were still shut down. They told Reconversion Director John W. Snyder that they would not reopen until they were sure that they would not be squeezed between the increased cost of their labor and steel they...

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