The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-01-30
EARNED
BY U. s. STEEL IN 1915
Great Profits Despite Deficit
Of 81. 1000, 600 at Open
ing Of Year.

The subsidiary companies or the
United States steel Cooperation shipped
In 1915 approximately l3.Ooo,"o" tonS
OF rolled steel products. The nee earnings
Of the corporation for the year W.
s13O.35i.2s6, indicating earnings at the
rate of $1,000 II ton. In 1914 shipments
aggregated s.Ooo.o 900 ttCs. while the
earnings were 81, 663, SIS. The net
earnings were thus at the rate OF s'''o
a ton. In 1913 total shipments were
12.375.OOO tons and the net earh,nes
we're s137.isi.3i5. This was at the rate
Of sll.OS a ton.
II will be recalled that the first quar-
ter Of 1915 was a grievous one for the
corporation, as IA deficit of more thail
81, 900, 600 was incurred. The snS\ hrst
uuarter earnings were du" " 'he
light business done during the last quar-
ter of 1914, when production ana snip
,nents were the smallest III the history
of the corporation. On the "ther nano'
during the last quarter 81 1913 BUSINESS
and earnings were the heaviest since the
organization In 1901.
The Carnegie steel Company made the
largest contribution to the earnings III
1915. as in other years. and the hWerl-
can steel and Wire Company was next
Expectations Of larger shipments during
the current quarter. as mpar VII"
the fourth quarter Of 1915 are not likely
tn be realized. Indeed. II the achieve
men,s Of the furnaces and mills in the
last quarter Of 1918 are duplicated dur-
ing the first quarter of 1915, OFFICIALS
will he highly gratified. Thus far since
January the Weather has been nropi'louS
and output has been kept IN alnlos, 20
the average operations during the laSt
three months Of 1915. shipments 700
have been but slightly affected by the
e%mbaryoes on traffic in the Eastern
territory tending to delay the export
movement. At no time. however, mas
i, been Impossible to ship freight abroad
when full train loads could he deiVere"
direct to steamers at dock without 'nc
assistance Of lighters.
Preliminary estimates indicate that
the subsidiary companies or the steer
Corporation cast as great "a oniiae OF
ingoN In January as in December. midi
eating an output of practically l.3oo.oo"
tons or rolled steel products and ship
men,s of l.25O,00o tons. The volume OF
new business, however, was much less
than i'm December. In face, a decrease
In unified orders will probably he re-
ported. At the m II If not clear
,u,, how much was the decrease some
estimates, which are little more than
cuev@, range from goo 600 TO 10000
tons.
Las, week business in rolled steel
| products was. severely contracted. The
| sales which came 10 the surface aggr"-
gated about 80. 600 tons. or about one
half the amount Sold in the preceding
week. The falling off in railroad equip
ment contracts was most pronounced
orders for rails. cars. locomotives
bridges and track supplies called for less
than $1,000 tons Of steel. or about one
NTH Of the amount called for 10y orders
placed in the preceding week. f"lui'-
ment manufacture and railroads them
selves. however. placed orders for steel
in fair mountaineering some equip
men, orders previously paced.
Rail mills received orders last week
for a little more than $1,000" tons %;
standard and light sections and g+rd'I
rails. About l5.UOo tons additional axe
pending for domestic shipment AND eA'
port inquiries amount to ABOUT 21,u"'
ions. mainly for shipment 20 Russia ant
Italy. Russia is also negotiating FOL
4 round tonnage Of track supplies.
The car SlIt71- rec tlNfh '4''3F W.
l.S3o cars. the largest singh order being
1000 tank cars for the Union TauI
Line. Negotiations continue for about
$1,000 cars. Of which 10000 are for eN'
mort. Tn largest inquiries for domestic
roads come from the New York Central
Illinois central. cincinnati. southern an'
the southern Railway, smaller lots wei'
inquired FOR by various roads IN the cen.
t-al West.
The locomotive builders reported con
tracts during the week for - engines
Including 10 for the Union rdriilc an
10 additional for the Erie. The 10 to
the Erie Will be built Ivy the America!
Locomotive Company. \ similar orde
WAS placed by the Erie with 'thc Bald
win Locomotive Work. In the wcei
pre>ious. Contracts are sttll pcndiui
, for about so locomotives, 10 Of whici
are for export.
The contracts for fabricated strlc
,ural steel for buildings and hr!dG
work were the small, 81 of any week 70
manv months. only about 700 tor
Of structural shapes are required b
the orders placed. The largest sing,
contracts closed las, week were Loo
/, tons for a carpenter shop for the Detroi
, Union Railway. 1000 tons for car float
for the Morgan. Louisville and TeNa
a Railway aud steamship Company an
0 l.200 tons for two adjoining buildings {
. be constructed at Albany, details I
4 which have already been noted.
) AlthouGh the volume Of business I
= iron and steel products last week "
0 relatively small. preliminary returns IL
. the month are more cnCuuragluE. \
a the same time the effect Of the hig
o, prices and the delayed deliveries on coi
f, tracts il more apparent as tn" mont
closes These conditions ar" likely I
have even a greater bearing upon bus
ness in the next few weeks. The TRAIN
situation in the Eastern territory j. ais
a serious handicap Ia industrial con
pauics, especially in New England,
The export movement, at least so II
5 as new purchases arc concerned, r,
, Ccivel "A severe chcc> IN January. II
Inquiries, however. were huge, the d,
mand for steel for making war nun
tons h,iug still urgent. although cor
r.. tracts are being NEGOTIATED more cal
~tiously. or at least more rcsrrved,y, tina
IS during the lat,or half Of 1915. Son
very large prospective contracts al
i held in ahcyancc because buyers a.
cndcavoring to purchase At s. or
"A ton under the asking prices of II
American mills.
! DErJ AID n