STATE OF BUSINESS: Only the Beginning

For U.S. industry, which will spend an estimated $35 billion on expansion this year, the talk last week was that 1956 is only the beginning. Speaking to the Investment Bankers Association in Hollywood, Fla., Bethlehem Steel Corp. President Arthur Bartlett Homer gave the steel industry's forecast for tomorrow and beyond: "We will have to increase capacity by more than 50% in the next 15 years to meet the continuing longterm growth needs of the American economy." In hard figures, said Steelman Homer, that means another 70 million tons of capacity, or a total of 200 million tons of steel annually...

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