BUSINESS ABROAD: Scrambled Steel

When Sir John Morison, 60, a canny Scottish accountant, took over Britain's steel denationalization program four weeks ago, he made it clear that he intended to drive a Scottish bargain. Said he: "Some people seem to think we're going to give the things away . . . We're after a good price, and we're going to get it." In his first sale last week, Bargainer Morison lived up to his word. In a $3,000,000 deal, he sold two-thirds of the stock of Templeborough Rolling Mills to British Ropes, Ltd. and William Cooke & Co., Ltd., at a higher price...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!