The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1916-04-19
WALL Street At SEA OVER BIC FALLING OFF
IN THE NuMbEROF HOLDERSOF STEEL COMMON

NEW YORK. April iS.-wau street
was somewhat at loss yesterday 10
explain the big falling or In the num-
Der OF holders OF the common stock OF
the United states Steel corporation as
revealed by the inspection OF the trans
Ter books at the annual meeting. In
March, 1918. there were 5s.se5 common
stockholders on record, while last month
there were only 4t.sio. decrease OF
itylS, or 2sS per cent These figures
indicate that there has been heavy
liquidation OF Steel common by stock
holders OF year ago. and that the float
HOUSE, nnS IN Tine t 1os Iva SSner.i hos
Increased enormously. All OF this sell
ing could not have come from foreign
holders IL Is probable that many OF
tho common stockholders OF the Steel
corporation have Seeis AZ TO take adVan-
tage OF the prevailing high prices for
il 50 II does much TO explain why Steel
has for the last few weeks failed TO
respond To all the good news that has
with steady stream OF liquidation
continuing. together with foreign sell
ing APPOINTING TO 651.l65 shares, ii j.
up"
Fewer Own Preferred.
OF the preferred stock Jl2.Ss2 shares
were foreign owned In 1914. Foreign
holdings OF the stock as OF March last
were 262.Osi shares. a decrease Of So
al shares In two years.
The decrease an the number OF hold
.rs OF preferred shares was compare
lively small between February last and
We're s5.s1e holders OF preferred shares.
only to s5.33?.
sold a. low as j.. following the pass
ing OF the common dividend by the dI-
rectors. ON January the stock was
Judge Gary. in introducing y. r
smith as an einrloye OF the corporation.
said that the corporation and It's SUP
salaries had in their employ about $780,
eco men and that $4,000 OF them were
stockholders.
employees by the Steel corporation and
called attention TO the tact that last
year the corporation did not reduce
wages until more than two months after
tho other steel companies had done 50.
lie said that the reduction applied only
70 tonnage men. and did not affect COM
FIND workers Satisfied
1t Is also noticeable" said Mr.. smith,
that the steel corporation was the FIRST
TO restore this III. per cent reduction
IN wages TO these men. and In addition
wages Of the laborers were increased
81 average Of 10 per cent After re-
storing the deduction the company also
left us on the fair equitable sliding wage
scale which they inaugurated AFTER
wages had been reduced. | mention Tins
incident TO show that there - cause
for greatly increasce good fellow snip
among the men. There Is no doubt that
y
the opinion that their interests are
sufficiently cared for. My observations
satisfied. crEardless OF what change
may take place. that they will be PROV
I erly cared for by those who are man
' aging the steel corr Atom
I Judge Gary. speaking to the stock
You remember that from October !.
conditions We're very bad perhaps
never before IN the history u the cor
poration were they 50 bad. Most OF The
3 independent steel makers reduced the
wages OF the common laborcr. cOudI-
I tions probably forcing them TO do so.
The question came up whether The
Steel corporation should reduc" tho
wages After careful consideration ~
/ was decided TO continue wages and pass
se aidend ss Sa by S 2i" g@th 'o Tht IN
/ the case Of IN. higher class OF workers
! II wa sdecided 10 rcduc" their wages
( but the pay Of the common laborcrs
was to be maintained without inter
IuptIOn.
speaks in Praise of Employers.
The steel corporation ha~ reasons "a
! feel very well pleased with its cm-
ploycs. 1t is worth while, u i- an
honor TO be connected with CORPORA
{ ton at who's, annual mceting some or
many Of the employees are willing To
stand before the stockholders and eN-
/ press their confidence and appreciat ton.
. . think tho officers have "a great feel
! INK Of satisfaction over the conditions
I that hav, existed with the employees and
! .Of course il is more 81 business
matter than anything else and the oni-
p ctalS. representing the Stockholders
D feel 0blicatcd TO protect them under all
J circumstances. yet the stocknolders
must realize that it Is advantageous "a
: have the men satisfied. and 70 b. fair
7 aud reasonable. for after all the en-
! plpyers and employee are on "A common
ground and are interested az the Same
3 thing. The success Of one means tht
I success Of the other. and vice versa.
! 1T would DO pleasure Tor the ort'
/ Gers 90 meet all the employees and stock
2 holders. taking each Of them ~ ms
f hand aud express his satisfaction. To u
4 not only Goo the ps,Iuiury interest of
the corporation 90 have employees Whl
are saisned but BE- b. also the satlsfsc-
fion 81 the b.lief. ar least. that his
. lights have been respected and adj
. Nauced Tho welfare work. which is a
biz thing with our corporation. involv
lux the lives comfort and pleasure of
the employees and their families. ls. d
] seems 90 me. Co hr 81 great importance.