Business: First Move in Steel

Instead of waiting as usual for the United Steelworkers to strike the first blow in contract negotiations, management made the first move. To the Steelworkers' President David J. McDonald last week went a letter from twelve big steel companies asking for a one-year extension from this June 30 of the present wage agreement, without any increase in benefits. Although the recovery is making "moderate progress," said the letter, there is a disturbing "bulge of synthetic demand" created by fear of a steel strike, and it could lead to "decline and dislocation" later. To...

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