STEEL: How the Gamblers Got In

Cleveland's 67-year-old Cyrus S. Eaton is an indefatigable financier and promoter with a finger in many pies. His latest promotion is a $100 million steel mill which, if the Government will provide $90 million of the money, Eaton will build on a 1,000-acre site on the Detroit River at Gibraltar, Mich. To run the new company, Eaton has picked Max J. Zivian president of Detroit Steel Corp., in which Eaton controls 24% of the stock.

Last week the Kefauver Senate Crime Investigating Committee came to Detroit to investigate some of Zivian's other stockholders. The committee was checking on how gangsters...