STEEL: New England's First

When it comes to steel, New England thinks it is the stepchild of U.S. industry. Although it is a big steel user, it has never had a fully integrated mill of its own. Last week, after almost five years of planning, the New England Steel Development Corp. announced that it would build a $250 million steel mill with an annual capacity of 1,000,000 tons.

Head of the Development Corp. is Clifford S. Strike, president of F. H. McGraw & Co. (TIME, Jan. 1), which plans to build the mill on a 1,600-acre site with an 8,000-ft. waterfront...

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