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...Communist Party was raided by Federal officers in the sand dunes near Bridgeman, Michigan. Warrants were issued for 32 delegates, about two-thirds of whom were captured in the raid. The remainder surrendered voluntarily shortly before their comrades were to come to trial. William Z. Foster, leader of the Steel Strike of 1919, and next to Eugene Debs the most prominent radical in the country, was the first of the Communists to be brought to trial. The specific charge was violation of the Michigan state criminal syndicalism law. The prosecution contended that Foster was a member of an organization...

Author: /time Magazine | Title: RADICALS: The Foster Trial | 3/31/1923 | See Source »

Before the session was over two generalissimos of industry met in secret conclave. One was Judge Elbert H. Gary, Chairman of the Board of Directors of the United States Steel Corporation; the other was Herr Hugo Stinnes...

Author: /time Magazine | Title: Foreign News: Rome Congress | 3/31/1923 | See Source »

...What did steel say to coal? Nobody knows. But it is thought that the subject of their discussion was reparations. It is known that Herr Stinnes favors a world conference to be called by the International Chamber of Commerce, and has suggested that it should be held in America, where the deliberations would be untainted by the influences of contending parties. Both Judge Gary and Herr Stinnes refused to make statements to the press, so their parley remains as mysterious as it is significant...

Author: /time Magazine | Title: Foreign News: Rome Congress | 3/31/1923 | See Source »

...demand for iron and steel comes from a variety of sources- indicative of the wide extent of the business recovery this winter. Railroads are purchasing much needed equipment, as was seen when the $31,500,000 issue of Pennsylvania Railroad 5% Equipment Trust Certificates was bought out last week. Another heavy buyer has been the automobile industry, which is preparing for another banner year. The increasing production attained by oil companies has led to large purchases. Likewise, the building boom is absorbing quantities of structural steel. In addition, curtailment of operation in the Ruhr district has caused appreciable foreign purchases...

Author: /time Magazine | Title: Finance: Iron and Steel | 3/24/1923 | See Source »

...there is some indication in trade circles that recent price advances are already checking buying. This is natural enough, with pig selling at practically $30 per ton, or about $11.58 above the level of a year ago. In the present type of steel market, the first indication of an important curtailment of either production or prices will, of course, be seen among the independent companies, rather than with the more stable and less speculative Steel Corporation...

Author: /time Magazine | Title: Finance: Iron and Steel | 3/24/1923 | See Source »

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