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big steel. Now they're doing all right, and did as soon as they got the mill going, but it was a long time before they got it going.

At any rate, in the early '30s the industry and its leaders were going through a transition period. Of course, a great light dawned on U.S. Steel somewhere when they picked Ed Stettinius, who had been a member of the Board of Directors representing the big Philadelphia group of investors and bankers, to head up the company. He was a modern, young man, a graduate of the Harvard Business School, a graduate of Harvard College, well-educated, looking at business as a profession, well-educated in all the humanities. At the Harvard Business School he heard of all of these new-fangled things - production, safety, accident prevention, cure of the workmen, wages, hours, productivity as having something to do with health and lack of fatigue. He heard all these things, thought about them, was a really modern man. They made him President of U.S. Steel.