New-York tribune., 1902-01-30
L. S. STEEL EARNINGS.
ACEDATSS5, 900. 900 NET FOR
FIRST NINE MONTHS.
EXHAUSTIVE DETAILS OF THE COR
PORATION'S BUSINESS-BRIGHT
OUTLOOK FOR 1902

A preliminary report. giving exhaustive details
If the operation and earnings Of the United States
steel Corporation for the nine months beginning
m April !. 1901, when the company practically
started business. mailed last night TO all the
s,ockhoders This report, which will be submitted
81 the FIRST annual meeting. February H. is said
n be the fullest and most comprehensive state
rnent ever issued by the directors of industrial
corporation. The statement of net earnings for
.be nine months December being estimated) which
was published January is reproduced in the
report which goes to summarize the tabulated
figures follows:
After charging to operating expenses, month by
month all current renewals and ordinary repairs
for maintenance of plants, the earnings of the
Ffom fhs sum 61ef @ was set ASIDE in
snking fund 70 retire bonds OF the corporation
for nine months interest on the corpora ton $
bonds: dividends the preferred stock al the rate
If per cent per annum were paid. amounting to
s26 900. and dividends on the common stock at
amounting to s5 zz7oS6 making total of over
G10.eo paid out for interest and dividends on the
bonds and stock Of your corporation during this
funds 70 cover exhaustion of the ore properties
general depreciation Of machinery and plants and
Of which there remained the result of the above
nine months operations undivided earnings of over
satisfactory profit and loss statement. showing
companies. cannot be given until their accounting
and loss statement OF all companies can be made.
A balance sheet showing the condition Of the
companies November so. 1901. is submitted. the
Of the report making it iInpractcable to give
8 complete balance sheet as of December 81, 1901
WHAT THE BALANCE SHEET SHOWS.
The balance sheet submitted which is reproduced
below exhibits the assets and liza biities repre-
sened by the capital stocks of corporation and
by outstanding stocks of subsidiary companies. ex-
cept that, for simplicity. it omits Indebtedness
from one company TO another. as such sums
though assets Of one company. are liabilities OF
some other company:
Property accoInt-Cost Of properties
and oPe3s by II the eE Sexr9 a., companies $50 SS
penditures for improvements exploIs-
98 a5 sP92s @ .aaaScs Saa seTsSRRePs ne SF@P P5. at
ties which are to be charged to future
properly 49,. 42ss1s Is
stocks. bonds az, and os securities ,I Of outside
ceivabie Cs4s 2s9 Ie,: bills receivable
92s2 46S 55). cash s55Sl5527 es).... POS 2s III IS
Total e47 4s o21 e.
LIABILITIES.
Capital stock Of the United
States Steel Corporation;
PTeferTea ........ SO. 1878 20
Capital stocks o. subsidaE
The Unifea States Steel
Cooperation Cpar ralue);
Preferred stocks s.......... 2s3.Soo 90
l45s T5ius. sgpefao5 so5 00ns6gaisf9 sSSeiaaf9
I'll s25 81
Bonded and debenture
United States Steel Cor
poration bonds SSn5. $4,000 90
Funded debt OF subsidiary
puoic .....,.e......... SO $40 sss SIS
peb<uture scrlp.........-. ASA 81
- $50 s41 es5 20
Mortgages purchase
obligations Sub
sdsry oonpsnies);
Mortgages ............... s.. A57.os765
Purchase money obliga-
Tiols .......-.......'... 1850, 754 "a
--- iscsT7 7s1 IS
Current liabilities.
PsyTolls accounts pay -
able ..-...-...-...--... So -. s45 SO
1subsidisry coTnpanies9.- l2sas.744 z7
Special deposits due
plcyes an6 CHEERS e.45S.542 10
AcSued interest and un-
presented coupons 4s10.4lo II
Common dividend No 2.
PAYABLE December %.
-DN-o~- co- 20 ose $50 Is
liability:
is..se ..,'---. 52s5as 81
sinking frds and reserves for depreciation 21 6 o40 81
non nd sIbsidisrr companies -. i74344 22e 80
Total .-....... 81 647 4s3 o2l 62
The inventories the report continues, represent
MAJ al manufactured process