Business & Finance: Story of a Story

One day last March in the Pittsburgh offices of the biggest steel-producing unit in the world, Chairman Philip Murray of the Steel Workers Organizing Committee and President Benjamin Franklin Fairless of Carnegie-Illinois Steel Corp. sat down to seal an historic industrial treaty. The broad outlines of the treaty between Steel and Labor had already been settled by the negotiators' respective superiors, John Llewellyn Lewis for Labor and Myron Charles Taylor for Steel (TIME, March 15). After the first talk Philip Murray declared: "This is unquestionably the greatest story in the history of the...

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