The free lance. (Fredericksburg, Va.) 1885-1926, 1903-04-11
STEEL TRUSTS REPORT
Net Earnings of All Properties Last
Year Was sI3s,3os,7 64.
sseo.5io.47S BUSINESS


After Paying Fixed Charges and Dvt
dends. Over ss4ooO.oOo Was Added
10 Surpius-Msintenance Of Proper.
ties Cost so. is7.oii.
New York. April ). The first annual
report 10 the stoC kholders OF the United
States Steel Corporation Tor he fiscal
year ended December 81. 1902. has boon
issued The income account for the
Year shows total net earnings of all
properties after deductiug eNp,ndi-
lures for ordinary repairs aud mainte-
nance. also interest on bonds for the
subsidiary companies. of ) 3OS 76f.
less sinking funds on bonds az subsid-
iarN companies. S62s o6t. depreciation
and eNtnsuishment funds. SlSSlIiO.
extraordinary replacement funds So
Sla.6l3. special funds for depreciation
and improvements. $40 900 600. total
S-f.'sf3Ns. balance of Net earnings
for the year. Slo>5@tG7i. interest ON
United States Steel Corporation bonds
for tine year. Si5.1>l $50. sinking fund
on United States Steel CORPORATION
bonds for the year. S2ofo GOO. total
SIS 2-l. $50. balance. 500 500 5.l. df,i-
demos seven per cent. preferred stock
So. '2'.lss. common four per cent
S2o.5i- .6fo TOTAL So u52 500. leaving
untNi dcd profits OF surplus Tor On,
year. SSt252-57 Previous surplus
Si3.t-esto. total surplus December 81
1902. S'..>si591. which include the ,ap-
ital surplus oft S25ooo. ooH provided al
date of organization
The physical condition OF the prop
critics has been fully maintained dur
Ing the year. the cost OF which has
been charged to current expenses. and
the amount expended hy an properties
Tor maintenance. renewals and extra
ordinary ~epiaocmcnts aggregated SO
1901 Provisional charges were made
monthly to operations Tor sinking fund
and to establish funds for depreciation
and for reserves for eNtrs ordinary re-
placements
The volume of business done by an
companies during the year in.l udinc
sales between the comnauie. ana th.
gross receipts Of transportation and
miscellaneous properties. AGGREGATED
S5fo.5 fo.47a
Total capital stock OF the corpora
ton issued and outstanding on Dacer-
Der 81 was S5oS. 301 500 common stock
and S'le.2>lloo preferred stock Tho
bonded aud morteaged debt OF tho
ntec States Steel Corporation and
subsidiary companies ia the hands OF
the public n the borinning OF tho wear
was 1886. .69S issues made durin,
the year by several companies. $3.50 -
a5S. total. S3cS l6S UsG Total bonds
and mortgages paid and cancelled dur
inS The year. $l6975.7. bonds pnr-
'hcsi ny trustees OF sinking funds COR
Investment S3.ll5.ooo. Leaving tho
bond d. delcnture and morr-ae.d debit
December 81. 1902, S3c3 655.f-g "A me-,
decrease durinS the year OF s. fi2es9
Purchase money obligations and bills
payable paid OF between April / 1907
and December 81. 1901. amounted 10
SllO4197l. paid OF during 1892. sl3.-
oo-.5os. total reduction of S2l ZOO 800
The report for the first quarter of
this year shows noe earnings OF se4.-
t7o.l36. decrease over the first quar-
ter OF last year OF 81 623 463.
Jnfilied orders on the books for man
ufa'iured products on April were
o.flo.1ls tons The preferred dividend
Is payable May Is. the common June ao