STEEL: Rival for the Blast Furnace

Into the Armco Steel Corp. plant at Houston this week rolled three carloads of iron smelted by a radical new process. Developed by a Hungarian-born inventor, Julius Madaras, and financed by Oilman Clint Murchison and others, the process eliminates the blast furnace and promises to smelt iron cheaper and faster.

Armco had agreed to dump the iron into its electric furnaces to see if it worked as well as blast-furnace iron in the making of steel. On hand for the important test this week, the biggest to date, were observers from Jones & Laughlin,...

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