The Bridgeport evening farmer., 1916-08-22
I x. Finance. Real Estate Insurance =. !
STEEL TOUCHES
 NEW HIGH MARK
Stock Gains 334 Points In Day Earnings Are
 Large.

New York, Aug 22-Unitcd States Steel, Wall Streets premier specula- tive stock, scared to the new high rec ord price of 95 just before the close of the market yesterday. The overturn of shares by which this advance of Is 3-4 points was nearly 10000 or near lily one-fifth of total transactions of the day. The previous high record price was 98 7-S touched in 1909. Enormous earnings and extra divi- dends are the sense of the bull move ment in Steel common. The, statement for the June quarter established a new high record for net | earnings. They were $S1, ,126,04S for the three months. The balance available for dividends was $65, FOG, ,260. An extra dividend of one per cent. was declared on the common stock, making ST. 741,725 disbursed by a corporation for the account of dividends Tor the sec ond quarter.
 | Considering the enormous amount of Steel common outstanding, it's rise from a low of 3s in 1914 to it's present high figures is little short of miracu- ] lous, while the story of the renewed prosperity which has filled the coffers of the company since the depression of 1914 and 1915 reads more like fiction than history.
 For the quarter ended June 30, 1914, the Steel Corporation after the pay ment of it's regular dividends for that period, showed a deficit for the June quarter of $5,159,237, ana the thrilled tonnage on the companys books was only 4,O32,S57.
 l At the end of the September quarter the directors had found it necessary to cut the dividend on the common stock to 1-2 of one per cent. and after the payment of this and lis prefrred dividend the surplus for the quarter was only $89.479.
 By the end of the December, 1914 quarter matters were even worse and the common stock dividend was passed. Nevertheless the payment of the preferred dividend left the com pany with a deficit for the quarter ot $, ,606 ,2s3.
 kEarnings for the year of 1914 were only $71.663,615, as compared. with $137, 1S1 ,344 the year previous and ir spite of it's various economies and, re- duction in the common stock dividend to only three per cent. in 1914, against Hve per cent 1n 1913, the company showed a deficit ol $16, ,971. .ss3 for the former year, against surplus of $15,- bS2, ,1S3 for the latter.
 Dividends on the common stock were not resumed u-4ti the December 1915. quarter, when the full quarterly payment of l 3-4 per cent. was made The tide had then turned in the steel Industry Foreign and domestic bus mess had begun to your in and the corporation, as every other concern in the country, was feeling the beating pulse of prosperity once more. The surplus for the December quar- ter was $22. .3o0.602 aIer the payment o1 dividends. and the unified tonnage had risen to 7,S06.22O tons. By March, 1916, prosperity was in full swing. and the surplus for that quarter was 332,- S5.172 after the. payment of dividends on both classes of stock, and the total net earnings for the quarted amounted to $60, 713.624. These were the largest ever reported in the history of the cor poration until the June quarter of the present year. '