STEEL: Where's the Shortage?

When Harry Truman seized the steel industry, he gave as one of his reasons the "fact" that steel was so short that a strike would stop the flow of supplies to Korea almost overnight. This week it is plain that, despite the 2,500,000-ton loss from the short-lived strikes, there is still so much steel that some varieties of it are begging for buyers. And while Washington and the steelmakers battle over a price rise, many steel prices are already being slashed by middlemen.

Cleveland's White Motor Co., a big steel user, reported last week that it is able to buy...

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