Word: inlands
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...Chicago, Inland Steel Co.'s President J. L. ("Joe") Block unwrapped a program that will cost $260 million and boost the No. 7 steel producer's ingot capacity 15% by 1959, to 6,000,000 tons...
...Inland's expansion, like the others, is intended to meet not only present but future needs. Among Inland's projects: a seven-year exploitation, started in 1953, to expand iron-ore mining at Financier Cyrus Eaton's Steep Rock development in Ontario (TIME, March 9, 1953), from which Inland hopes to get 3,000,000 tons a year by 1969; a 19-story, stainless-steel office building, one of the few new skyscrapers in Chicago since the Depression; a land-filling project near Inland's Indiana Harbor plant on Lake Michigan's south shore...
Block sees nothing but good things ahead, especially for steel companies in and around Chicago. The region uses one-third of U.S. steel production, but produces only 25%. Since steel users prefer to deal with makers close to home, Inland sells 60% of its output within 100 miles of Indiana Harbor. Because of its happy location, it has operated since 1933 at a higher rate than the industry average in every year except strike-ridden 1952. Last week it was operating at 106% of rated capacity v. the industry's estimated...
Even with this profitable record, Inland has been reluctant to expand. But when bustling, 53-year-old Joe Block, grandson of Inland's founder, moved into the presidency 20 months ago, he brought some expansionist thinking with him. As vice president in charge of sales from 1936 to 1951 (with time out for a stint as steel expert on the War Production Board), he helped push yearly sales from $99 million to $519 million. As president, he turned his energy to improving efficiency, pushed Inland from eighth to seventh in the industry without adding a single open-hearth furnace...
Begging for Jobs. Between April and last month, 500,000 peasants were sent back to their villages. In one month, 35,000 pedicab and rickshaw men "volunteered" to migrate to northern Kiangsu; in one day 4,000 sampan dwellers left for inland cities. The government press reported proudly that 80% of the city's university students and flocks of physicians were begging for frontier jobs...