Magazine content is available exclusively for TIME subscribers.Business: Preliminary Bout
Like a battalion deploying for battle, a crowd of nearly 1,000 surged through Manhattan's Roosevelt Hotel last week as formal bargaining opened between the steel industry and the United Steelworkers Union. So numerous were the advisers, statisticians, supernumeraries and just plain hangers-on that the cost to management and labor was estimated at nearly $25,000 a day. President Eisenhower tried to set the tone for negotiations by warning again that both sides must show "good sense and some wisdom" to avoid an inflationary wage hike (see NATIONAL AFFAIRS). But both sides had hardly started negotiating when they fell to battling.
The battle started...
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