The steel industry caved in last week under the pressure of labor's demand for third-round wage increases. To the 35,000 miners in the steelmakers' "captive" coal pits went the same $1-a-day boost John L. Lewis had wangled from other coal operators. Then U.S. Steel Corp., which had held out for more than two months against the wage-price spiral (TIME, May 3), gave Phil Murray what he wanted for his steelmakers: an average 13ยข-an-hour increase. Other steel companies followed U.S. Steel's lead, were expected to follow it also with price lifts (see BUSINESS).
This week the pressure was high against Ford Motor Co.,...
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