Business & Finance: Goodwill Gestures

Back to Europe last week—as secretively as they had arrived in the U. S. two weeks before—sailed the Earl of Dudley and a committee representing Europe's Steel Cartel. Though no one admitted it, everybody knew that the Earl and his friends had visited the U. S. in an attempt to get U. S. steel companies to join the cartel or at least to stop undercutting its prices abroad (TIME, Feb. 14). Last week no one in authority would yet admit that anything had happened, but the Earl's speedy departure indicated that an understanding had been reached. Only Manhattan's Journal of Commerce...

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