CUT IN STEEL PRICES
SURPRISE U.S.A. MOVE
STIMULATING 1N DUSTRY l
(Reed. June 27, 10.20 a.m.) NEW YORK, June 25.
A surprise move is the announcement by subsidiaries of the United States Steel Corporation of a price cut on a wide range of products, varying from 2'. to 81 dollars a ton, or (i to 17 per cent.
The move is an effort to unlock prices on industrial products, including automobiles, and pave the way for a broad business revival throughout the country.
The United States Steel Corporation has denied giving a pledge against wage cuts, bringing an immediate recovery of the faltering stock on the market and sending up prices for the seventh consecutive day to new high levels for the present recovery movement.
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Bibliographic details
Poverty Bay Herald, Volume LXV, Issue 19667, 27 June 1938, Page 5
Word Count
125CUT IN STEEL PRICES Poverty Bay Herald, Volume LXV, Issue 19667, 27 June 1938, Page 5
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