STEEL: Support at the Heavy End

Steel is the Maine of industries; as it goes, so—usually—goes the economy. Last week the U. S. steel industry looked back on the third best month in its history. But its rate of production last week—93% of capacity—was already ahead of August's 89.72%. It was, in fact, working nearly at the practical maximum of its present equipment. And steel's repercussive power over the economy was already being felt.

Four kinds of customers sent the steel rate up: 1) industrial builders, doing jobs for defense (TIME, Sept. 9); 2) manufacturers of durable goods,...