Business: Independent Institute

"The labor question ... is the outstanding problem in today's industrial life" declared Bethlehem Steel's Eugene Grace in a farewell address to the members of the American Iron & Steel Institute in Manhattan last week. To the nation's steelmasters, gathered in record numbers against a backdrop of the biggest steel strike since 1919 (see p. 13); the outstanding and directly related question was Mr. Grace's successor as head of the Steel Institute. The settlement by which Myron Taylor had made his peace with John L. Lewis had split the industry as it had never been split before. Outmaneuvered by Mr. Taylor,...