Steak: Pound steak and cut into 8 pieces. Combine flour, salt and pepper and coat steaks on both sides. In a heavy skillet heat oil and saute stgeaks 5 minutes on each side. Keep warm while making gravy.

Pan Gravy: Pour off all but 4 tablespoons of pan drippings. Blend in flour, stirring constantly until bubbly. Stir in milk, salt and pepper. Continue cooking and stirring, scraping cooked-on juices from bottom and sides of skillet , until gravy thickens and bubbles for 1 minute.