Like widening ripples, the effects of U.S. Steel Corp.'s $25 million price cut last week splashed through the industry. One after another, Youngstown Sheet & Tube Co., Bethlehem Steel Corp. and Jones & Laughlin announced price cuts from $1 to $5 a ton, even though first-quarter profits were down. (Big Steel's were down to $33,957,341 v. $39,234,511 last year.) Republic Steel Corp., third biggest steelmaker, was studying prices, had not yet acted. In all, the nation's steel bill had been cut about $80 million a year, not quite what it had been boosted two months ago (TIME, March 1).
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