STATE OF BUSINESS: Bet on the Future

In a major antirecession move, the nation's largest steel producer last week plunked down another hefty bet on the future. U.S. Steel Corp. announced plans to raise $300 million through debentures in mid-July. The bond offering will rank among the largest ever made by an industrial firm, equaling Big Steel's in 1954 and issues floated by General Motors in 1953 and General Electric in 1956. Said Robert C. Tyson, chairman of Big Steel's Finance Committee: "The purpose of this is to add money to our funds to restore working capital that we have...

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