Word: steeled
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Dates: during 1930-1939
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Hardheaded old Steelmaster Charles M. Schwab and his smoother, younger prototype, Eugene Grace, made labor history 20 years ago when they installed an "Employe Representation Plan" in Bethlehem Steel Corp. By the standards of the nonunion steel industry of 1918, E. R. P. was revolutionary. It assumed that workers had a right to some voice in the conduct of the plants where they worked...
...Paul and William shinnied up a drainpipe to a window ledge. Windows were locked on the first story. Up they climbed to the second, crawled around the ledge until they found a window open. Past a guard (reading a newspaper), through attack-proof steel doors (ajar), into a room full of copper sheets (pennies in the raw), they tiptoed. One of them knocked a wrench clattering from a chair, but no guards came running. They took some copper clippings ($1.50 worth), tiptoed back to their window, threw the copper to the ground, departed as they had come...
Last week most U. S. businessmen prepared to write off 1938, if not with pleasant memories at least with grim thankfulness. Steel production, at 52% of capacity, was double that of a year ago. The stockmarket, though dawdling, was doing so on a plateau 25% above 1937's year-end levels. Virtually every index of production or distribution-building, power, car loadings -had enjoyed an upward surge...
...Winkling is no excuse" was the astonishing accusation hurled by New York Supreme Court Justice William H. Black last summer against Bethlehem Steel's august Chairman Charles M. Schwab and a batch of lesser bigwigs. Mr. Schwab failed to recall what happened between 1927 and 1934 when the American Society of Mechanical Engineers, which he once headed, lost $215,000 on an engineering index. Members sued to recover, and Justice Black found against Tycoon Schwab's "inconceivable ignorance" (TIME, June 20). Last week the Appellate Division delivered a decision, devoid of Justice Black's wit and invective...
...hills around Tlaxcala, 45 miles east of Mexico City. One morning last week more than 1,000 Government employes and their families, off for a collective workers' Christmas holiday, jammed their way into seven obsolete wooden, second-class cars, equipped inside with long, hard, wooden benches. Seven classier steel cars completed the train. Rounding a curve on a downgrade near Tlaxcala, the locomotive broke an axle, jumped the track and spilled all 14 coaches down the slope. Toll: according to press reports, 40 dead, 51 injured; according to the Mexican Railway, four or five dead, 30 injured...