The Fifth Freedom (ca 1950)

and there's another market potentially so big that it staggers the imagination office buildings like this one in Schenectady New York made of stainless steel building panels instead of brick and mortar and this is only the first one another increasing market is stainless trim on cars there's one metal that will never pit and feel and it's always easy to keep bright as new and the purity of our food is constantly being safeguarded by high alloy Steel's there's no extra expense in keeping this equipment clean and spotless and for the latest in fashion yes it's stainless steel safety pins for juniors four-cornered pants juniors only a baby now but he's the reason we want to hold fast to all of our freedoms now remember Bill Connor here who works for the company what does the fifth freedom mean to him well for one thing it means that bill and nearly 13,000 other company workers have good jobs at top pay why there are twice as many workers now as there were 10 years ago and every time labor saving equipment is installed more workers are hired because more steel is produced and all the new improvements help bill in other ways too how well the company helps finance bills and Harry's insurance and the hospitalization coverage they have for themselves and their families and now they have pensions and they have to be paid for too now since bills community can count on growing payrolls his neighbors benefit too regardless of whether they work for the company or not yes sirree the whole community grows right along with the plant the business section and the residential section with homes like these why you can see the pride in their upkeep and the friendly spirit of those who own and live in them schools and playgrounds where community youngsters can grow in health and safety and the spiritual side of the community the churches they result from growth to growth that stems from a good company and freedom of opportunity and what does this freedom mean to stockholders like mrs. browning well as a matter of fact a big part of a thirty million dollars spent for new facilities could have been distributed as dividends but if the company hadn't kept improving it would have dried up and dividends in the future would have been improbable or downright impossible so mrs. browning and all the other stockholders were paid regular modest dividends over the years and the rest was ploughed back for improvements for making improvements and staying able to serve a need are absolute necessities under the fifth freedom as a matter of fact a new plant improvement and expansion program has become necessary already that's going to mean the investment of an additional twenty three and a half million dollars so the company can take advantage of growing markets and more economical faster and better steelmaking facilities particularly equipment to roll high-alloy sheets and strip well that's what customers want most today yes and enough new finishing meals to take care of the Melting capacity created by the expansion program just completed the new program calls for the replacement of this continuous hot strip mill oh it was good enough in his day but progress is passing it by so it's being taken out to make way for a big new modern mill almost twice as wide easily three times as powerful [Music] [Applause] the new mill is to be installed at Brackenridge and to go with it there will be ultra modern reheating furnaces new cold strip mills and annealing and other equipment on the drawing boards today but tomorrow taking advantage of expanding markets protecting the standing of the company the jobs of its employees and the investments of its owners [Music] this is exercising the fifth freedom under our system of free enterprise why do you know the new program also calls for the erection of an all stainless steel laboratory that's important because the real growth and prosperity of a company such as this results from know-how provided by research company metallurgists even now are working night and day they're looking for new steel alloys that will resist the bite of the most vicious acids Steel's tough enough to stand up under new demands of Science and Industry or Steel's that will simply be easier to weld or form or perhaps just to look better for the new kitchen sink or frying pan little samples in the testing laboratory now tomorrow out on the job and today contained in a small shaft 30 feet square and five stories high is another research project representing another company milestone this was filmed for you but also as an historical record for future generations for this is another beginning a beginning that might be as important as any in the history of steelmaking for here is a feat believed by generations of Steel men to be impossible continuous casting imagine liquid steel pouring into a mold and moments later as if by some touch of magic emerging a solid continuous slab ready for the finishing Mills a slab of steel that has no end this is something which steel makers say is close to them you now this is only an early stage but in time this process continuous casting will be ready to move out into the plant and when that day comes better steals at lower costs will be available to the entire world and that too is the American Way for only in America could this story be told it's our birthright and our future yes and it's our duty to hold cherish and protect the fifth freedom [Music] you