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Photo of Henry J. Kaiser appearing before the RFC

Photo of Henry J. Kaiser requesting the Reconstruction Finance Corporation write off $34,510,000 of the debt he owed the government for the Fontana, California steel plant. In return, he promised to raise $80,000,000 by private financing to double the steel-making capacity of the Fontana plant. He believed this would have had a material effect on relieving the existing steel shortage. From: Beth Gore.

Photo of President Benjamin F. Fairless of the United States Steel Corporation

President Benjamin F. Fairless of the United States Steel Corporation, told the Joint Economic Committee today that the corporation had not made a fair return on its sales or investment for the last 20 years. He blamed the recent price rise on the new employees pension system and the boost in Federal Social Security taxes. From: Beth Gore. From: Beth Gore