STEEL: No Cut?

U.S. Steel's Irving S. Olds dashed some icy water on talk of a price cut in steel. Big Steel's last year's profits of $88,622,475 might look like a lot of money, said he, but they amounted to only 6% on sales and 5.5% on capital investment. As far as he was concerned, Olds said, present steel prices were "fair and reasonable."

...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!