A pickup in capital-goods outlays is a key prerequisite to sustain the new boom. Last week there were plenty of signs that capital spending is accelerating at a faster rate than was expected and that the pace will continue into 1960.
Republic Steel Corp., the nation's third largest steelmaker, announced that it will spend $375 million on a major improvement program over the next four years. The first project will be a $45 million hot strip mill, with a capacity for 145,000 tons per month, to be added at Republic's Warren, Ohio plant. To dispel any doubts about overcapacity, Republic's Chairman Charles...
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