Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1916-01-26
UNITED STATES
STEEL AGAIN ON
DIVIDEND BASIS
Quarterly Disbursement Of
One and a Quarter per Cent
Is Made Company Has
Huge Sum on Deposit.
t.r sosn,ne ,oo.s., s,.e,.,. .,..,o w,,.,

fsr MOANING JoUseAL erscisL Gthsto wiHEl
New York, Jan. eb.--uuited States
Steel common shares were restored to
their regular dividend status Of per
cent todny when the directors unani-
mousy declared a quarterly disburse-
ment Of u per cent out Of the earn
ings for the last quarter of 1915. To-
tai earnings Of s5f.232.7SS for the
three months were the largest for any
similar period In the history OF the
corporation, exceeding the previous
record, made in the second quarter Of
1907, by s5.029. 0S3a
The statement Of earnings, no less
than the action on the dividend was
In line with popular expectations, fore
casts having ranged from S4S. 600, 600
Ia. sba,000,000. although tho latter fig
ure was regarded AS rather extrava-
CANT That some fair rate Of dividend
would be declared was foreahad0wed
IN the recent decision Of the corpora
lon to increase the wages Of It's un-
skilled lab0rers by 10 per cent. and
the offering Of tho common stock to
employees on The proft-aharing plan
at So.
The corporations financial position
may be Judged from the fact that il
now has cash In the hanks amounting
to Sl05, 100000, while ita surplus for
the last quarter Of 1916 amounts to
more than $4,000, 600 as against
deficit Of 5000. 600 In the correspond
ing quarter OF the previous year.
Earnings Show Zig Increase.
In detail the report for the last
quarter Of 1915 shows total earnings
OF s5i23sg.7SS, net income Of s40.-
sb3,113 ana surplus Of s23.300.G 92.
These figures compare with total
earnings Of sSS.710.644, net income of
$a0.046,79i and surplus of $lS,037,2fi
at the end Of the quarter Immediately
preceding.
Total earnings for 1915 were $780,
3hi ,2g6 compared with Ssi.746.5lS In
1914. on the basis OF returns for the
last quarter OF 1915, and with orders
already Ia hand. IL Is believed the
steel corporations earnings for 1916
VIII run into Unprecedented figures
In the fourth quarter of 1914, when
common dividends were altogether
suspended total earnings We're only
$10.aa9,l70 and net income s6,si5,
28S after charges and depreciatinna
to S4aSS,000 had been
made. For the last quarter Of 1916,
and deprecAations, together
with other appropriations amounting
to about stO,3S00u0 were made. des-
pitc which the net incomes is larger
by over 600 per eeut than at the close
of 1914.
Twelve Million Disbursed.
The outlay involved IN the disbtrse-
ment Of the common dividend
amounts 10 S6,35a.sSi which. with
the regular quarterly dividend OF
/ ga per cent on the preferred stock,
makes a total dividend distribution
for the quarter OF t2.G5S. T01.
The monthly returns for the fourth
quarter show that Novcmhers earn
ings OF Sif.7G0.9i0 were only SEA-
1913 larler than those Of October but
Decemhers total of S1S.A40.02l eX-
ceeded Novemhcr's by SCOTIA 1t is
that tho current month
will exceed the output aud conse-
guentls the financial returns OF Inst
December
United states steel common was the
ail-peryading feature of The stock
market with an overturn of about
122,0O1 shares, 0r more than one
quarter az the days total operations
steel opened AT substantial advance
ever the previous day IS close. made
maximum quotation OF IL and
CLOSED az say. net gain of fun
point
Following the dividend announce
ment of the quarterly statement. bids
as high an sc were made for the stock
At prh ale sale presumably by some
helated bears.
Mining Company Pays Dividends
Denver Jan rs Tho annual report
Of the Nindicatnr Consolidated Gold
Mining company mailed to stock hold
ers today shows "a profit Of ST .s65, sea
FOR the fiscal year ending December
81 1915, after paying SI03.fsi for