STATE OF BUSINESS: Steelspeakers

Tycoons last week took turns reporting to stockholders on the state of their businesses during the first half of A.D. 1939. Most of them were able to tell a fairly cheerful story by comparing the mediocre first half of 1939 with the terrible first half of 1938. But those businessmen who hope great things for the second half of 1939 hung most on the words of steel industry, both of whose two big units last week reported.

Bethlehem. One hard-headed tycoon who talks (four times a year) is Eugene Grace, whom Charles Schwab...

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