The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-07-31
Business of Present Year
May Be Cited in the
Dissolution Suit
ROOM ENOUGH FOR
ALL WELL PROVEN
Corporation Is Now Reaping Benefits
of Farrells Work in Building
Up Great Foreign
Trade
az HOLLAND

New York, July 30.-(Special 1.-Two or
three days have been required in order
that the financial district might thor
ment of the United States Steel CORPORA
ton for the second quarter of the pres
ent calendar year which ended on June
80. When the statement was first pub
lished, on Wednesday of last week, the
first comment of the leaders was one of
establishment. All looked for a report
which would show very great earnings.
None predicted as great earnings as the
corporation reported, the net being ISL,
126,04s There is no industrial corpora
ton in the world, except perhaps the
Krupps which has ever been able to re-
port net earnings for three months any
where near this sum.
After the first contemplation Of these
figures, there began to be estimates of
the aggregate amount of earnings for a
like period of time for all the steel In
dustries Of the United States For 1t is
known that the Independent companies
have been as busily occupied with the
manufacture Of steel and iron commodt-
ties as has the United States corporation.
Relatively their net earnings are prob
ably as great as those the Steel corpo-
ration was able to report. A rough esti-
mate entirely a guess, has been made
that the net earnings of all the American
steel industries for the past quarter is
probably somewhat in excess of $4,000,
OO0. If that estimate be fairly accurate,
then should earnings of this kind con-
tinue it would be possible to report that
the American steel industry, as a whole,
has earned, net, not far from $500, 900
in single year.
HOW WAS 1T EARNED
Naturally the assumption is general
that these net earnings of $S1,O00.OO0 by
the United States Steel corporation rep
resent war orders, but opinion of that
kind is said to be not entirely accurate.
The Steel corporation has not sought and
only to a limited extent accepted orders
for war commodities. Many of its
products no doubt were utilized by other
manufacturers for the making OF war
munitions, but it was not the business of
the Steel corporation to make inquiries
respecting the use to which it's commod1-
ties were to be put.
Some of those familiar with the bust
ness say that many of the commodities
were sold solely for domestic purposes,
being utilized by manufacturers whose
products are sold in the United States.
Probably detailed report of the sales
made by this corporation would tell a
wonderful increase of our export business
and an increase not attributable to the
European war except in an indirect way.
1t Is 10 years since the corporation
thoroughly organized it's foreign sales de-
partment. James A. Farrell, who had
charge of that department, and who is
now president of the United States Steel
corporation, perfected wonderfully SYM
metrical and efficient organization. He
went so far as to establish in various
markets warehouses in which could be
placed commodities manufactured by the
corporation which were suitable for each
particular market His representatives
studied political economy, geography and
racial characteristics. having within a
few years fairly we'll perfected them
selves in these things, especially in South
America.
that the Steel corporation has been able
| to report net earnings for the past quar-
| ter somewhat in excess of $31, 000, 000
One of the lessons discovered in the re-
port of this corporation teaches the ne
| for the command of the best skilled Ia
ating ability. Had the various subsid-
| iaries of which the United States Steel
corporation is in control been operated as
together could have reported net earn