Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-01-26
| RECORDS ARE BROKEN
BY STEEL CORPORATION
Total Earnings for Last Three
Months Of 1915 Reach
S5i,232. 7S3.
100000, 900 IN BANKS
ehcit of $5,6OB,OOO Is Turned Into
Huge Surplus and Directors Are
Unanimous in Restoring Common
STOCK to Old Dividend Basis.

NEW YORK. January .5.-Un!;ed
ates steel common shares were re-
pred to their regular dividend status
per cent to-da% when the directors
fsanimousiy declared - quarterly dis
fsc'ncnt or y per cent out %: earn
ss FOR the last quarter OF 1915. Total
rnihRs Of Ji.o327SS for three
onths we're the largest for any SINH
period in the history OF the cor
ration. exceeding the previous
cord. made in the second quarter of
o.. by s5.T2e.os3. The statement %
rnings. no less than the action 90
e dividend, was In line with popular
pectations, forecasts. having ranged
1om s4s. 600. 900 to s5n, 600. although
e latter figure was regarded as ex
avagant. Tha. some faC rate Of
vidend would he declared was fore
allowed in the recent decision Of the
operation 10 increase The wages or
b unsktlled laporers BY 10 per cent
Sd tho offering o! the common stock
employees on the prott sharing plan
SIS.
#:FICIT - CONVERTED
INTO ENORMOUS SURPLUS
The corporations financial position
ay be Judged from the fact that It
'bw has cash in banks amounting 10
05. 100000. while its surplus for :he
at quarter OF 1915 amounts TO more
an s23,ooo.oQo. as against a deficit
/ &6.sos,0oo in the corresponding quar-
r OF the previous year. In detail
3e last report OF 1915 shows total
rnings Of SOL ,232.7Ss, net income OF
s.s7l.il3 and surplus OF $4,000 e2.
nese figures compare with total earn
gs o: s3s.1l0.s44. net income % $50
5.7el and surplus OF slS.o37,2il at
end OF the quarter !mmed!ate!y
eceding.
Total earnings for 1915 were sI3o.-
1926. compared with sSl,1A65is IN
Is. On the basis Of returns for the
IT quarter % 1915 and With orders
read In hand. I, Is believed the
eel Corporations earnings FOR 1916
|ill run into Unprecedented figures
In tho fourth quarter o: Icli. when
mmon dividends were altogether sGs-
.nded, total earnings were only ilr,-
J.l7o. ana net Income ss.3i5.25s, after
k8rRes ana dcpreCiations amounting
i f5Ss 900 had been made, For the
81 quarter OF 1915 charges and dc
teciations, together with other arpro-
Nations amounting TO siO3| 10000.
ere made. despi'" which I'll" net in
! me is larger by over 900 per cent
All AT INC ClpSe pl !"4 !.
.iyIDESD nISTRiHiTION
MOUNTS rG St2.G3S,IHI
| The outlay involved In the d!sbuvsc-
on, o. the common. dividend amounts
| ss353.5sl, which, with IN. regular
IIRrterly dividend of Is. PEE cent on
e preferred stocS makes a total div!-
Ind distribution FOR the quarter o:
c.s5s.1o,
The monthly returns For Tia" fourth
k!arter show that November earnings
siT.TGo,3io we-. on'y Si9t5G3
Irger than those OF October. but De-
mbers total OF tis,iio.c"i exceeded
koveaber's hy ss7?.Iii II j. under
GOD that tho current month Will e%
ed the output. and conscquen,ly the
tancial returns OF last December
limited states Steel common vas the
Il-pervading feature .: the stock mar
kt, with an over,urn % about l22.oo0
|arcs or more than oue-agartcr o.!
e da"'s total operations Steel
bened AZ a substantial advance over
e previous days close, made maxi
|um quotation o: So. and closed AZ
y. net gain. G: = fun point.
Following the dividend announce
emf and publication OF the quarter!?
[atement bids as high as So we're
|ade for the stock ~ private sale,
('esumahly BY some bc!ated bears.