The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1916-07-04
$247,00O,00O QUICKLY
EARNED IN STEEL SALE
Past SIX Months Most Profitable Period
in History Of Industry.

NEW YORK. July 3..-The first half
OF 1916 has been III" most profitable SIN
months period in The history - he steel
Industry. Since January net earnings
of all the steel companies arc believed
10 have been close In $2ii .UUU.uUn or
which nearly sl99 0n0. nU0 WAS earned by
the United States Steel CORPORATION. The
lions share Of the income was earned
during the second quarter. The CStl-
mates are based upon the understand
ing that tho same percentage holds villa
earnings us with production In comrar-
Ing the tHited States Steel Corpora ton :
achievement, with those of independent
companies.
Siatistically, If not commercially. the
last six months have established new
records. The total production Of inGots
has been Il little more than :0.oUn.opo
tons. TO which the United States Steel
Corporation has contributed 10.l70."O0
tons. The latter estimate Is based upon
the expectation Of an output Of 1.I20."n
tons Of lngots in June. returns for which
month are not fully completed. The
Gated 10 have hecn l5.s5T.G00 tons and
shipments are estimated To have heru
l5.280.000 tons The output OF finished
rolled products by the United states
have been S.c45.nn0 tons and shipments
were approximately 1.?ia.0nn tons. The
only other half yearly period that makes
favorable statistical cnmNHrisnr VITA
tho last six months was the last nall or
1915. when the United states steel Cor
poration produced more than $500. n0o
tons OF mgots and I.lHn,ooQ tons OF
rolled products and shipped ahou; '.l09.-
00n tons OF finished material.
The volume of new business in all
kinds of rolled steel for domestic ship
ment fell of sharply In June. the result
being TO bring The new orders booked
during the second quarter about 2.2nh,-
900 tons under the orders taken during
the first quarter OF the ycnr. The con-
tracts taken during tho hrst' h"lf a.!
timated TO have been approximately IT,
100000 tons. OF which tho United states
Steel CORPORATIONS share was more than
e,9l5.0O0 tons
The largest orders ever S"rnr"d hy inc
steel companies in half year Wa dur
ing tho six months end!rc r"c"nihcr 81.
1915, when the total book nES Nc"
nearly c0.5oo.000 tons. "f which the
United States steel Corporations share
was about 1860; 600 IONS. .,
naces for all kinds Of pig iron last week
were less than 80. 600 tons. "f which
about 1000 tons were for export ana
$4,000 tons wcrc sold Ia Eastern con-
sumcrs for shipment during the third
quarter and second half Of This year
The total contracts taken in Jun" were
little less than con. 400 IONS. making the
total book ingS during tic second quar-.
ter 6"5. 006 tons and sine" the .nrSt ol
January oe5 00h tons. With ,hn rNc"p-
tlon OF III. last six months nf 1918
these are the largest orders ever taken
By merchant furnaces FOR Il similar PC
Rod Blast furnace interests today arc
much interested in tho prosperity" con-
tract for another East Eivrr tunnel
which will require about %n.0nn tons OF
ca st. iron scgmcnts and about ?h.oho tons
Of pig iron Bids on Tho general con-
struction given July L..