Exactly nine days after President Truman asked them to "wait and see" before raising their prices, steelmakers got tired of waiting. The American Rolling Mill Co. was the first to act; it boosted its prices as much as $7 a ton. Next day Republic Steel Corp., third largest U.S. producer, boosted its prices $5 to $8. The same day, National Steel Corp. raised prices an average of $5.25 a ton. The following day, Jones & Laughlin Steel Corp. joined the move with raises of $6 to $7 a ton. The raises, on the whole, were much larger than anyone...

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