New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-03-17
THE u. S. STEEL REPORT.
Undivided Profits for 1904 OOe'
$1,000 900 Less than an 1908.

.a .t,-s annual report of the United States Steel
CORPORATION. for the fiscal year ended December 81
1904 was made public yesterday The total net
earnings of sill the properties after deducting ex-
,,e,diturex for ordinary repairs and maintenance
Approximately ssSOooOoo. against S22oeoOoo In the
preceding year, and interest bonds and fixed
charges of the subsidiary companies, amounted TO
s1l76522 against sl09 III 152 for the year 1903.
Appropriations for sinking funds on bonds of
subsidiary companies, depreciation and extinguish-
raent funds and extraordinary replacement funds
were. in all Sl4l57.22S Similar appropriations in
1868 were SIS AS $685. included in that total being the
special fund for depreciation. improvements and
construction. $1,000 CO." which item does not APP
pear IN the 1904 report. Deducting from the total
earnings the s14l57.S2s appropriated. already
noted. interest and sinking fund requirements on
United States Steel Corporation bonds. S7.56S2eS
amounts charged OF fer employees bonus funds, for
adjustment in inventory valuations and for sundry
accounts, sl.1SSS72, and S252se77 dividends the
preferred stock, there remain undivided profits for
the year OF SY0i7S5 comparing with s12,S0i97 for
1903, decrease Of S7.25ZO65
The total undivided surplus on December 81 1904.
"as S6lS65446. The gross receipts of the corpora
ton in 1904 were S444405 49, against s5S6572S71 in
1870, decrease OF 1872 49, 40 in discussing the show
ing made in 1904 the report says. in part:
The depression in the iron and steel trade which,
place during the summer Of 1903 continued until the
conditions is indicated by the lesser volume of
business done for the year as represented by gross
per cent in comparison with 1868. and by railing
OF Of 50 per cent in net earnings.
In the latter part Of the year 1904 there was a
marked increase in the volume of business received
and this revival has continued.
In the fiscal year ended December 81 the Steel
Corporation expended for improvements and ex-
traordinary requirements $s.102S73. There was ap-
Eropriated 1901 for payment OF construction and
capital expenditures an of which charged on
on December 81. s. 235. This compares with $2t-
0Sl2 appropriated in the preceding year for SINH
lar purposes The expenditures made by all COM
panies in the year chargeable for capital account
or construction and the ACQUISITION or additional
property amounted to Sl1.S51 946.
The average number of employees IN the service
Of an companies in 1904 1898. against 49,
T0q IN 1868. The total annual salaries and wages
last wear were 500 rs 276 against Sl25 IL
1903. The corporation has authorized improvements
IN the year approXimating SCI, eO0,G00
Under the Drofit sharing plan S429 employees sub
gcribed at the 1904 for 1913 shares Of the
preferred stock SS7 50 a share. For the three
wears during which the stock subscription plan has
been in force 1870 subscriptions have been re-
ceived for a total Of g7.i6S shares.
The stockholders of the Steel Corporation at the
end ~ the fiscal year 1904 numbered 67522, against
1857 at the close Of 1863.