New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-04-26
|lBa'S EARNINGS DROP
,.,,,t for Last Quarter Shows
MI; Total Of s23,519,203.
|,lr TRADE NOW IMPROVES
rot;on Declares Usual Divi.
'''f ,.rds-No Successor to
W. B. Dickson.

,s - the United States Steel
l''a for the three months ended
'Spc., we're s2s5is,2O3, it vas an
'rrn upon the adjournment OF the
scn'' meeting Of the directors yester-
es''s.,r just after the close of the
~ ".-r.,. These figures were well
fefs -. lowest Of the preliminary esti-
S0' ..bIch had ranged from s2s'ooo.ooo 70
|ss's oo The directors declared the
ssNs ,.r,erly dividends Of Ia per cent on
- ,r.d stock and IA per cent on the
lie ravable respectively on May -
he Jpue %. .,,.r was the frs, fol-
,,a stockholders annual meeting,
Nv orsanized by re-electng the Off
Ire N...n, william Y. Dickson, who had
- "a his resignation as a Vice-presi-
" March IS. 70 take effect on May J..
sp sa.,son's place was not filed. and his
S..ssn, leaves the Steel Corporation
.lv one vice president. u. 6. Kerr.
" r.s Mr.. Dickson. James Gayley, for
,,ce.prssldent. and Messrs. Schwab
~ Corey. ex-presidents. was one OF An
~ r,reeie's young partners" In the
,svs the corporation had three vice
,.sieniS -.oo,,
,os col. 80 for the quarter ended
Ter 81. 1910: with S37.6l6.S16 for
.Sree months ended March 81. 1910;
LEI pfs for the March 81 quarter OF
-s and SIS COS FOR that Of 1905. The
..,,ss hv months. which in the state
:. ~ three months ago Lad shown pro-
--..s,. decreases from october To Deem
'.:gs The statement issued yesterday
80 an upward tendency. the figures
.s1,-uarv having been s5.ss9,4ls; Febru-
S'r1sO.e9S. and March. slo.i6S,s59.
,.sro,ions for sinking fund require
=. m bonds o. subsidiary companies
a Cor depreciation and extraordinary re-
..,.msr, funds which have always here
.Srs been stated as separate items. are
!, time siven together as sS.511.Ss6. leev-
!, he net earnings al s20.001.sl7. The
sspc,ion for sinking funds three months
:, was $40. 1870. and the allowance for
!. s.nreciation and extraordinary replace
-sr, funds St,llS.Oss.
s,or, the net earnings deductions are
40 ~ $4,000 for interest on the out
,,s,lst bonds of the corporation and 81
af,ss for sinking funds on those bonds.
"a halance being s19.6S9.s55. Subtracting
rom this balance the quarters dividends
m the rreterred and common stocks. ag-
r,sga,inr N2 s5S.700. the surplus net in
,one icr The quarter is shown az sSl.l55.
Refining with the September 80 quarter
Z 1902 large appropriations from surplus
ave heretofore been made az the end OF
ach auar.er ION account OF expenditures
"a. and TO be made on authorized ap-
,systaiions for additional property. new
s1n and OBSERVATION-DISCLOSURES on
xsssber 80. 1909; s5.OO0.0O0 on December
/. 1879. when there was also appropriated
t,~0oO as reserve fund 10 cover ad-
tnced mining royalties: s5.00O.000 on
arch 81. 1910. s7,500.000 on June 90 and
? September 30, 1910. and 100000 on
scsmber 81 last, when 81 900 900 was also
s4opriated for the mining reserve fund.
he December 81 statement showed a
-Fus for the quarter of S40s.032. and the
10000 special appropriations were de-
Sret from the total surplus for the year.
mounting to sl6.9es.1ls. As the quarter
u ended j. the first of 1911, the surplus
uds az only s51.lJ5. with no surplus
Ixnces 10 draw upon. and no appropria-
u for the additional property. new
MS and construction" account could be
tt
In. unified orders on March 81. as was
on April 10. were 3.4ti ,5l tons.
!, December 81 they were 2.67t,751 tons.
= smallest amount at the end OF any
xrsr since the present method of COM
ting the figures was instituted; but since
a. tine they have each month shown