The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-04-26
US. STEEL'S BEST
QUARTER IN HISTORY
Net Earnings $50, 713,824 for
Three Months Of 1916
Gary Is Optimistic.
NO EXTRA DIVIDENDS

Net earnings Of the United States steel
Corporation for the quarter ended March
81. 1915, after deducting operating and
maintenance costs and interest charges
on the bonds Of subsidiary companies.
amounted to Se0.7l3.624. In the last
previous quarter they were 351,232.7ss
and in the quarter ended March 81. 1915.
they amounted to Si2,457.s0s. These fig-
ures are better than any other quarterly
earnings In the history Of the company.
The report Of earnings issued yester-
day after a meeting Of the board came
up to the expectations of the financial
district in general. although, In some
circles the amount for the quarter was
forecast at SS5. 900, 900. There had
also been some ak In Wall Street to the
effect that the directors would declare
an extra dividend on the common stock
in view Of the recent 10 per cent. In
crease in wages announced by the cor
poration.
During January the earnings were
s1s.794,912. as compared with $1.6s7,-
$50 in 1915. an increase Of sl7.1o7.762.
In February they were $l9,l96.396. an
increase Of Sl5,557.s1s over the cor
responding month in the preceding year.
In March they jumped to S22.722.3is. an
increase Of Sl5.5s0.2S5 Gross earnings
an the same quarter were $63.11o.1 100. as
compared with SIS .0s2. $40 In 1915.
T-n. haiap.o available for dikfdanda
during the quarter ended March 81 last
war $+5.5l2.S72. as against $35.959.o93
In the last previous quarter. and &?15.-
05S in the same quarter a year ago.
The balance available for dividends on
the common stock In the last quarter
was equivalent to III per cent. on the
sos. 3O2. 500 outstanding. or at the rate
OF 3O.S+ per cent. for the year. This
compares with a rate OF a.S3 per cent.
earned on the ommon stock during the
December quarter. which was equal to
an annual rate Of 20 80 per cent.
Depreciati0u IL Reduced.
The report shows that depreciation
and reserve during the last quarter
amounted to S7.S59.253 as against S.
729,O53 during the last quarter OF 1915
and st,2O2. 251 In the corresponding
uuarter a year ago. Interest for the
quarter on United States Steel Corpora
ton bonds was $5.44i.6s7. as compared
with s5.45l.sS7 in the December last
quarter. and $~5.52&.319 in the same
quarter in 1915.
This table shows the net monthly earn
ings OF the corporation for the last
three years:
,,uu.r, u..nTssss s.ssI'is u.stn''sr
February ......... p.la.3S 3,sa>.Sis S.6t.6ll
Following are the earnings In detail
OF the company Tor the quarter enued
March 81. 1915:
Earnings be
fore charging Less interest balance
subsidiary on the sub OF
bond interest sldlary bonds earnings
January. Sat1'I3,t $50 SN.slTs
February. iess!sot - ms slst Ts
- - -
ro,a,... Ss.lm,7S se.sT." 90;
Total earnings after dedu'ting opc.
rating expenses and interest on -,,..,
Charges and allow ances for
Sinking funds on Steel Cor.
poration bonds. ............. l.s5a.sl2 ~
%lnteres, on Steel Corporation
emtum pa, able on bonds
reasonable .."..."""".. $4,000 5000.
Dividends on stocks OF Steel
CORPORATION,
Preferred, ~ per cent ...., ,G,st,e'e
Common. Ia per ONT. s,3S,Ih .-
n-- - eco 80 so