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Steingraber has been a director of Maytag Corporation, Southeastern Thrift and Bank Fund, Mercury Finance, Lawter International, National Association of Manufacturers, Chicago Council on Foreign Relations, Mid-America Committee, Economic Club of Chicago, Executives Club, and several other organizations. He was also a member of the Council on Chicago Booth, Indiana University Dean's Advisory Council of the School of Business, Beta Gamma Sigma, Commercial Club, and many other civic organizations.