The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-04-21
LOVE FEAST IS HELD
AT STEEL MEETING
Employees Present as Share
holders Praise Methods Of
the Corporation.
WORKER OFFERS A PRAYER
Judge Gary Reports Highest
Wages Paid in Face Of Sc
we're Trade Revcrses.

The annual meeting OF the United States
steel Corporation In Hoboken yesterday
developed into one OF the most interesting
corporation meetings ever held. Probably
never in the history OF corporations. in
this country at least, have employees and
heads of great industrial companies come
together in such a spirit of flfendllness
and unanmity of spirit and seldom be-
fore have employees appeared at meetings
to vote large blocks of stock for their fell
low employees. The greatest of good feel
ing between employees and employers was
in evidence. ana one OF the employ ees
ended his speech with prayer In which
he said God bless the United States Steel
Corporation
The report made by Judge Ebert II.
Gary. chairman OF the board Of directors.
In behalf OF tho committe which has he"n
engaged in the study OF the working con-
dltions and wages in the corporations
plants was particularly interesting. and
his remarks that the tariff reductions had
brought In foreign competition and left
but a small margin of return for the capt
tai invested were significant. He called
attention to the fact that since the seven
day schedule OF labor had been discon-
tinued more than 1000 men had left the
where they could earn the accustomed
wage for "a full weeks work
The committee was appointed through
a resolution offered some time ago by
Charles NJ. Cabot OF Boston. a share
holder. 1t is composed OF Judge Gary.
James A. Farrell, president OF the cor
poration. and Percival Roberts, Jr.
Highest Rrtc Of Wages.
"The rate OF wages now being paid to
our employees" said the report. IS the
highest which has been paid In the iron and
steel industry since tina, industry reached
anything Ike rs present proportions
4 There has been no reduction In wages
since the advance made on February l..
1918. which involved an increased eXpen-
dture Of sl2.OO0.000 a year. During 1913
the average number Of employees in the
service OF the corporation and its sub
sidiar! companies was S.906. The total
salaries and wages paid TO such employees
was 207.20S.i76. The average salary or
wage per day per employee for all EN-
ployees. including the general admlnistra-
tive selling force vas S:.s2.
at is believed that during 1913 as IN
previous yeirs. the average wage scale of
the corporation was the highest in the in
dus,ry. This wage scale has been main
| tained Notwithstanding unsatisfactory
! business conditions and a steadily narrow
ing margin between prices and cost OF pro-
! duction
Serious accidents per 600 emplovees
are now 3Si, per cent less than in 1905
when this work was first taken IN by
the corporation This means that . . "a
men. who might have been in jured under
earlier conditions were saved from serl-
Gus injury during the year
''On December 81. 1919 more than
5000 employees were stockholders Their
aggregate holdings amounted to more than
| 1862 shares OF stock II is irnposs 10
TO ascertain how many employees in adj
dition TO those yet receiving the special
/ benefits that continue for 1--WE years hold
stock upon which these special benefits
/ have ceased to be paid. but IL is believed
| that the numbers would greatly Increase
the figures here given
| '"rhe subscriptions for 1914 show that
46,49S employees subscribed for a total
of 90.606 shares of stock"
work twelve hours "A day and efforts ar,
u,'Hs mats lur.ner 10 reduce th's ratio'
ne peHslo'l sss'ern IL "orNlhg smoothly,
". epoIt s"'" "' "E''as hut'per OF
P,'S'one's III ~. VS. -,"'-' ne COST
" p'nsp.S was Sf--''l"'Ih me aver
"se ak" VI ''' pe''sio''rS were %" 80 ana
Ihc aNerase Years oi service win the cor
p"na'lo" - me aNcrase pension was