The Bridgeport evening farmer., 1909-03-20
Ask for o.lsourhe.s un,en sebaeo,
TARIFF SCHEDULE DISCOUNTED
 STEEL REPORT ISSUED.


 New York, March 2O.-The most inn portant happening of the week was the publication of the tariff schedule. The financial district had been watch ing for this with fear and trembling, although the nature of the instrument was fairly well known. The changes were about as expected. The cut in steel prices was in some instances slightly larger than predicted in the gossfp from Washington but the steel stecks held well and many of the rall- roads made advances after the publi- cation and at the end of the week the market on an average was about a point above closing figures of last week
 On Friday the Steel makers announc- ed serni-ofdcialiy that wages would be cut about twenty per cent by May 1. That there will be an effort to cut wages is certain but it is equally as certain that the cut will not be as drastic stated. Those opposed to a reduction point out that the annual report of the steel corporation which the corporation earned in 1908 more than four per cent. upon its common stock as against 15 per cent. in 1907. With one exception 1908 was the worst in the history of the giant company This loss in earnings was due to a lack of business. With better business the earnings under the same wage scale will undoubtedly be sufficient for all requirements of the corporation, so why should wages be reduced?
 The steel report was a wonderful one as usual, the figures would make many governments of the world green with envy. The gross earnings which are $482, ,307, $40 were more than $27O,- coo eco less than the previous year. A condensation of this wonderful report is as follows: net earnings of $81, ,S47, 710, compared with $160, ,964.67S in 1907, a decrease of $9. .116 963 The balance nj mon stock of new construction aggre- gated &20, 509, ,O36, or 4.O3 per cent on the common, comparing with SIS, ,345, ,SS6, or 1 per cent. 6 per cent. in 1907. The tota balance of surplus of the corporation and it's subsidiaries, $133 415, ,214. com pared with .$122.645.243 on Dec. 31, 1907, an increase of S10 769, ,971. The corpora tion had $49.54S,053 cash on hand at the end of last year, compared with $53, = ee3 e4e at the close of the preceding year, a decrease of s4,415,795. Ball ance of surplus for the year ended De- cember 31. 1908. s10.342.ss7. compared with $15179.836 on December 31, 1907. Appropriations for new construction in 1908, nothing. compared with $54.000 900 in the preceding year. Expenditures of all companies in 1908 for mainten- ance, renewals. and extraordinary re- placements, $3s.o5S. .559, compared with 9S5 8z4 253 in 1907. Unexpended bal ance to credit of sinking, depreciation and xtraordinary replacement and inn prOVemenC IuIlQ SfI,o1o,o1o, CO1ApdIcu with $41. .36O.655 in 1907. Iron ore min ed 1s, ,e82. .715 tons, compared with 23. s70,55s tons in 1907. Expended for new construction s4s,422.698 compared with Ss6 ss1,2 in 1907. Total spent for new construction since organization, $255,- 407 9a1. Average number of employees in service in 1908, 165, ,211 compared with 210.180 in 1907. Wages and salaries paid $120, ,510. 829, compared with $780, s25, ,s2z in s107. Expended for con- struction and extraordinary replace ments since organization, s34S.032, 939-
 J. R. BURTON.