New-York tribune., 1907-10-30
[. s. STEEL STATEMENT
DECREASE IN BOOKINGS.
NcH to Largest Net Earlings for
Any Quarter.

At me regular quarterly meeting Of the directors
4 the United States Steel Corporation held vester
cay the following important statement regarding
the affairs Of the concern WAS made by Ebert II
Gary. chairman OF the board:
In view OF the fact that there has been some 70
teSsloh IN business during the last three months
stockholders concerning tho affairs of c,,- - U
non. ] feel justified IN making You frank
,}ile5 2n June T,7s 90 49,, our COMPANIES had hand
1e1lfler- "a -. 7,-.Il'S ';o'oo'S tons On Sep
ot-o.yo6 tons. This has since been decreased by
about 10000 tons. The bookings in August were
ahoGt 1850 tons day IN September they were
@nout -'Wo tons day There were further in
.reastS during the first half Of October. but since
n ~ nm me le r b2okiGs5 20 X @ haye decreased and
Ne are exporting at the rate of about 600 oo6
tons a year and at prices substantially on parity
VII be remembered the untitled orders on hand on
@ 72S 72 15. T5 ieyJolS 5 & years were as follows
7936.SSi anu -'''
From information received IT is believed the de-
Years been constantly increasins and that the
ciay true OF the railroad corporations. which gen
ts are saGIy N need OF additional
ness which is offered. As rule, the stocks on
fz months F Nas t beeI 9iiiG,It duTlng The last
has resulted in some curtailment but it is believed
the unwarranted excitement which has been Wit
messed shall soon entirely disappear.
our collections during the last few weeks have
not not been qlite as good as usual; bur are not bad
We nave Few accounts receivable that past
paid We have for some months anticipated the
therefore made preparations accordingly. Our in
yentoTies not large. the total stock Of pig iron.
for instance, being only .46S mini
In the history of the corporation. We were
Throughout our organizations the greatest care
and watchfulness are exercised in protecting the
affairs OF al the companies Our organization. our
facilities and our opportunities are better than
believe we are on a friendly footing with our
tlllpoytiS. our Customers, our competitors. ana
and shall he our effort. Prices have been well
maintained The leading steel manufacturers are
rnet. concerning their business interests. It
10 be recognized fact that stability Of prices is
10 be desired by both the producer and the con-
Sumer; that extremely high prices and extremely
Since the CORPORATION was organized. in addition
heen provided from earnings reserve for extin-
punishment Of CAPITAL of s79;57o,ooo-
Also there has been added TO the assets from the
The latter is represented by Investments in ad-
ditiona GXed property ana formally written of to
proht ana loss SURPLUS, Sll2,H3V,g0V
not written of because securities cover the
re 3y eee ss @ d o6 ore heid IN the treasury as
And there is represented by liquid assets hand,
The total is s2e6.18o. 600
The total liquid assets q the organization
October !. 1907, amounted TO s331596,00O, divided
Investments in securities for the benefit of vari-
Gus fund accounts lat costl, s2l.$95,00o .,
INVENTORIES. s134eg3,ooo
Accounts and bills receivable (customers), $685.,
Short time and call loans on collateral s2s 75s-
Cash IN banks, s75.s73o? Total. 1901. I.5ss 900
accrued interest and the dividend for the last quar-
When the Corporation was organized subsidiary
companies had outstanding unsecured notes and
@ the above except s. 979o have been paid
Upon the completion Of the new work now under
t sS VIII be materaiiy increased Tp to January
! 1907. the average increase already amounted to
There has been reserved and set aside to date
the sum OF 100000 OF this amount s1S $50 600 has
already been expended. leaving on hand for that
resented by cash amounting TO s11.754 7S8 &C. and
first class interest bearing securities amounting to
A. 10 the future If the results measured by
the peceses & ] ang the epa s2 soa 0I tbe ne
no doubt OF continued prosperity There has existed
feeling IN a large measure has been without cause,
and there is already change for the better II
p high standard for the conduct Of affairs In our
confidence necessary TO success. What can be ac-
c9pished By one man ad n Ass @ mas nesa fa
last week.
The report of the corporation for the quarter
ended September 90. made public yesterday, showed
total net earnings of sSOA25. the largest for any
quarter, with the exception OF the quarter ended
June 90 IN the history OF the concern. After all
charges and appropriations there balance Of
SIS 5s1Ss and a surplus after dividends Of s9s1171.
From the surplus there appropriated s1hooooco
FOR additional property, new plants. construction
and discharge of capital obligations. leaving bal
ance of surplus for the quarter Of A,9171.
Net earnings for the quarter OF sf3.So4,2S5 COM
pare favorabIy with s3s14e24 for the quarter ended
September So 1906 S 205s2 in 1906. and s1S77S9s3
IN 1904. The untitled orders on hand on September
90 1907 were 6,425O0S tons This compares with
7S5sSs4 tons on September 90 1906 5s65.3T in 1906
snd 2e27.43s in 1904 The total earnings for the
nine months ended September 90 1907 were sSo4SO-
&2 This compares with s1l4741s9 for the first nine
1901
The directors declared the regular quarterly divi
dend OF ia per cent the preferred and one-half