New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-03-20
BETHLEHEMSTEEL
EARNS S24,821,4O8
Single Year of European
War Brings Threefold
Increase in Business.

More than one-half Of the advance
summary Of the Bethlehem Steel Cor
porstion's annual report for 1915,
which is 10 be issued to-day. deals
with the opposition OF Charles W..
Schwab and his associates 10 the pro-
posal that the United States build an
S11,00O,0O0 plant for the manufacture
Of armor plate.
First comes the expected joyful an
nouncement to the stockholders that
the total earnings amounted to S24,-
S21 ,408.25, as compared with S9,649,-
6G7.1 in 1914. Other figures O.. in
come, wages and orders show that the
first year Of the European war brought
nearly threcfold increase in bust
ness. Then the officers turn their at
tention to the bill before Congress
which would authorize Federal compe-
ttion in the steel industry.
"We will agree TO permit any well
known firm Of chartered public ac-
countants to inventory our plant and
make careful estimates OF the cost Of
manufacture" the report says. with
that data in hand, we will meet with
the Secretary Of the Navy and agree
TO manufacture armor at r price which
will be entirely satisfactory to him.
"As concrete working basis for
such negotiations, the Bethlehem
Steel Company has offered to manu-
facturc one-third OF the armor plate
required for the contemplated five
year naval programme estimated at
approximately 10000 tons) for price
Of 1895 per ton for side armor, as
compared with the price of S425 per
ton now obtaining" In addition 10
being q lower price than the govern
ment has paid for armor for ten years
the report declares that this figure IS
also substantially lower than the cost
OF armor 10 Japan, Austria, Germany,
France or England.
Armor Contracts Fulfilled.
with the recent extraordinary mar
and for ships, the various plants OF
vour corporation enter the year 1916
with all departments. with one excep-
tion. running at full capacity. That
exception is the armor plate depart
ment. The Bethlehem steel Company
has practically completed deliveries 10
tho government on all pending armor
contracts Contracts for the current
,-car have not bccu awarded.
"Your attention is called TO the fact
that a bill is pending in Congress and
has. with the support of the Secretary
Of the Navy, been recommended 10Y
massage by the Senate Committee on
Naval Affairs providing for the build
ing by the government at an expense OF
Sil ,OO0. 900 Of an armor plant Win
capacity Of 10000 tons year.
This capacity provides for more than
double what has been the average ac-
,ual requirements OF the United states
for armor in the last twenty years, ana
II such "A bill is passed tho value oil
existing armor plants in this country
will be virtually destroyed. The Beth
lebem steel Company has more than
81. 600 900 now invested IN lts plant de-
voted 10 this use-aud useless Tor any
other purpose.
"The Bethlehem Steel Company en-
tered upon the manufacture of armor,
plate at the request Of the United
States government. II has in all these
YEAR coopcrated with the government
10 the end that the United states
should have the benefit Of the highest
development Of the art
The orders on hand December II, lDlb'
amounted 20 $l7,A32 se6l9. against
S46.bf3I8995 on the corresponding
date in 1914.