"We're getting behind again and haven't any meat on our bones. We're studying a price increase carefully and see it coming—it has to come." Thus Bethlehem Steel's Eugene G. Grace broke the news last week that the U.S. would probably have to swallow another general steel price rise. Noting that Bethlehem Steel's nine-month net earnings tumbled (from $122.6 million to $99.6 million) along with those of other companies, because of the steel strike, Chairman Grace said that spiraling costs for scrap, ore and transportation had more than gobbled up the $8.50-a-ton price rise of last August.

Steelmen are in a...

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