CORPORATIONS: Watery Treasure

Cleveland's Cyrus Stephen Eaton takes chances and his plans are large. Once Financier Eaton had almost within his grasp a billion-dollar Midwest empire of steel, iron ore and utilities. The depression tumbled it about his ears in 1931. Eaton picked himself up from the ruins and, at 47, started the long climb back.

Along the way he encountered Steep Rock Iron Mines, Ltd. Steep Rock looked like the kind of big business that Eaton likes. In Ontario, some 70 miles north of the famed Mesabi range, Steep Rock owned fabulously rich iron...

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