" ... Would the Lutherans control the steel business?"
In the mind of the leftists, yes; but they wouldn't trouble themselves with such distinctions, and would instead merely decry the "religious right" ... lumping all Christians into the same "vast conspiracy."
But setting that aside, another answer is that many people could make that particular "Pittsburgh" steel mill out to be "Lutheran."
However, your question did not include the occurence in the population of steel plants' managements, nor in the workforces --- together, "the participants" --- of Lutherans ... which occurence you also did not pose in contrast to society, as being very disproportionate. So, in answer to your supposition: No.
If a Lutheran owned the Pittsburg Steel Mills he would be bankrupt.