Word: steelmen
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Murray has long expounded labor-management cooperation, believing that labor can show management many a trick to slick up its lagging machine. He fathered the Reuther plan for speeding up aircraft manufacture. He himself has made a survey of steel and vows he can show steelmen how to increase their production by 30% without expanding their present facilities. Whatever the practicality of the Reuther plan and the Murray plan, both support Murray's claim that labor, having won a seat at the council table with industry, is not content to behave like a captious outsider, but is willing...
...steelmen fired back. Their stand: the U. S. has plenty of capacity already, and if it hasn't, let civil needs be curtailed, the supply rationed. They cited one of their tribal elders, Cleveland Trust Co.'s economic essayist Colonel Leonard P. Ayres, who has turned up as chief statistician of the War Department, and who last month told the Cleveland Chamber of Commerce that in most cases erection of new plants or additions should be avoided if possible. Last week they found further support in an unexpected quarter: C. I. O.'s Philip Murray. Charging that...
Awaiting the Dunn report, the steel-capacity battle took a recess. Meanwhile, on another front, the New Deal and steelmen worked hand in hand. To Baltimore went 500 scrap dealers for their annual convention last week. When they gathered, the price of No. 1 steel scrap was $23.50 a ton, and heading up. Up rose Price Commissioner Leon Henderson, addressed the scrapmen like a Dutch uncle. Said he, referring to his deal with the scrapmen last fall: "The Government didn't ask for a written guarantee. We went away from the meeting with the feeling that we would...
While the scrap dealers had less to say than usual, steelmen (who have to buy the scrap) applauded. Loudest applause came from National's Ernest Tener Weir, who demanded that the Government force the price down. He also announced a 40% increase in his Weirton pig-iron-making capacity, just in case Government efforts failed to produce enough scrap at reasonable prices. But by week's end, the price of scrap had dropped $1 a ton, was clearly headed back to $20. On one front at least, the Government-with business' help-was having...
...time the Great Lakes opened for ore traffic last March, steelmen had made their forecast of the year's demand by letting the price of ore crack (the cracker: Henry Ford) for the first time in steel history. A month later, they dropped the price of steel by $4 a ton too. Their hope was to stay above their break-even point of 55% of capacity. By November they were not only at 96% of capacity, but confronted by an unfamiliar shortage in their coke and ore supplies. They even found themselves accused of not having capacity enough...