New-York tribune., 1911-02-01
STEEL EARNINGS DECREASE
Renort for Last Quarter Shows a
Decided Falling Off.
IuDGE GARY OPTIMISTIC
eavs Condition Is Good, with
BRIGHT Prospects-Farrell For
mallv Chosen as President.

-te total carr .ng@ of the United states
~..,f Corroration for the three months
Sel ON December 81 were only $500
,-s according 20 the statement made pub
81, soucwirc -rc quarterly meeting of the
,.-,,,o~. Yesterday. This was consider
..rr under tho preliminary estimates. and
.-,,s-ed With Sf0.9So.746. total earnings
a. che same quarter q vear ago. The
.--,,re were the smallest for any De-
.-.ror quarter since 1909. when they were
,,tasssc. Another Disappointing feat
~ the statement was tho decrease by
--o,tss i1 earnings. those for the last
..,s NJ -hc quarter being the poorest
-, esrree we're az follows: October,
,,ssrs 1870. November, SS.22S So; pccem-
,.- s-.ioaei
rV-rrf-c r. H Gsrv. chairman Of the
,..,.o+ states steel Corporation. said after
g.. meeting. however that there had been
.o-siae-arie improvement I'm the steel
..r-.l et-.o tho first OF tho wear. THE
..o.-,s of tro rere-al managers % sales.
.s,.r ,,s 20. weekly. are all very favor
- Do added. more so than 20 any
..-s f.r.rz pho last eIV months. Our
,.., -s.. report of bookings was January
o. and .--.dinr that day the bookings
a. e-- 're month ~ January were
$4,000 IONS. -o- including any Of tho large
o--ere for raiIs which we have been re-
'..-.~s DURING t-o '7-- 70" days and
..a- ..r ro. rsr reported. This COM
-.-s. --. $4,000 tons uer In December
s-a November.
r.sre Gary said tUat t'o wire business
49, e-...s'arIv good and tha- tho tin
,..- ..f EXPORT business Of the steel
roro-aror was also very active. and
rs. .- ss.-. There was considerable inn
.-o.e-r-, .- aH Nree The percentage
~ operations of tre corporation had in-
crease. -oreI I3erablv. no said lie pointed
e.t further that. notwithstanding the talk
tss, had been eo.-g on of The depression
,- ,-. steel trade. tho net earnings for
,s,o v.o-o StHIt4Ooo. ss compared With
t-.ta, 'f N 1909 and S9f St5.7io IN
1905
A.. -l.,e~ss-.- meeting % fNe directors
,s .-e-.- -rsrcr of William r Corey as
--ss-f-~. no tho United states steel Cor
v,-s'-- which vas rendered 20 Judge
or. -e.-.s. weeks ago. was formally ac-
-s-.se. and James a Farrell who vas
-s.e-tcs for t.e place hv the fusnCe COM
--..ts, M January IN. was elected preSi-
cen. t0 sr--af. him.
v- Farrell was also elected a director
~ t-a -o~osrr 90 sr~-ced Thomas Nor
-so~ ~ p.-.-1u-e who resigned % make
. s-s-s--- f0. -iu or fhA bHar4. AS uresi-
Ss-- ~ FARRELL v-iH also he 4 member
e-.oH-- r+ f.a executive committee
v-.-. -- composed NJ Judge Gary. i p
w--e1r. .-. George p. Eaker. Henry g..
Prick George ". Perkins. Henry Phi7ps
Norman Pe7u and Peter 8 2 WIDE
-s- r- Corey wa continued a- a de
-s..r-
T-a t-s-t-~s declared -r4 usual quarter
l~d.~4erd- NJ t,, Ter rr.- 7a rho preferred
s,o-r and "a r-- .er- o~ tre common
stock Tho preferred dividend IS PAYABLE
F,r-ra-r -- and t-e common dividend
Ns-or
From. tHs TOTAL earn .--s of So 9ao a7s vera
St5r-... $3.50 GER for r-e -.-'ru- funds on
bonds nr subsidiary companies and N.f12-
r;5 e-- ..r 1ar~r-f7tior ar1 extraordinary
rsr'7.--s-- fr-f. leaving ret oa~u.0cs n
vo'~ t. rr-- -r'e SUM aeav~tio-- We're
~-f- -f sr.s'. ret~E interest FOR the
rra~l- 0~ t-s .0~ro~atton. outstanding
rr-f. arF e. "..- ro~ sinking funds or
those -o~rr. e7r'r- a. balance of Slsfio. .fa'.
from v-tr- was charged or $''-Ss for ad-
w-'~r-e .~ -r7d-- accounts. From the
Gum -e~a.~.r- regular dividends for the
quarter .f ls ia'a nm tha rreferre7 stock
end r~ the common stock We're
6s5e-'rf 'e7v'~- tre Surplus for tha quar-
ts- a-
46frs -. t-a -u-r'ls -1- the Dsoen'bNr
c17-rr .re .er-e m surplus fo- the
r-s-sd.-- -.a-te-- ~ ''io amounting 20
rft.s- gives to-s. surplus for tne
.ss- -t Vt''-'a From t-te sum. accord
i-E,t ..- s'-.a0a~t deductions we're made
oi iEI"ar rr a-rovr' ~ expenditure made
s-t r- ~atr on authorized appropri-
s'0~' .-- additional property. new plants
s7d construction making o tots' NJ '25o0o.-
q" 'or -.o .-f.. rear f-r frese purpose