Business & Finance: England's Steel, Morgan's Steel

To the British steel industry came last week a series of mergers, from which may result the formation of a British steel cartel to meet foreign competition in world markets. First came a triple merger involving three British steel makers (Vickers, Vickers-Armstrong, and Cammell, Laird & Co.) who united all their interests, except their armament works, in a company to be called the English Steel Corp., Ltd. Capital: about $100,000,000. Then came another merger—the union of Dorman Long, Ltd. with Bolckow Vaughan & Co., Ltd. Capital also about $100,000,000. An export agreement has...

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