The Bridgeport evening farmer., 1917-04-25
U. s. STEEL co.
Will TAKE BIC
PART OF LOAN


States steel Corporation surpassed the
negotiations of the financial district
yesterday by reporting net earnings OF
l$113 121,e1S IN the quarter ended Marcr
Isl and by declarins an. extra dividend
lof 8 per cent on the common stock
The Street had looked for.2 per cent
i6s the possible maximum.
The directors also decided to sub
iAcribe for $5,ooo.0O0 Of the new gov
eminent per cent. certificates Of in
IdeDtedness, and $S.6O0.Oo0 was set aside
ito pay the corporations income tax
for 1916 Immediately on receipt Of a
bil1ssStnstAntd rcf tAatinsS suntiEthe due
xia4A.s.E,,J fss 5ssax2sssss rtned eds "a
l.afhs government is III need of
cash. said Chairman E. H Gary. af-
ter the meeting, "and as we are strong
In cash it was decided to anticipate
the income tax payment, following the
request issued by Internal Revenue
Collector Edwards to corporations and
individuals to pay their tax az soon
rs possible Subscriptions to the gov
eminent cerfid dictates ay-be cDnsid-
cred practically as subscriptions to
the forthcnmfng long term govern
nrent bond issue, So. 1t might be In
ferred that the corporations partici-
patton in the big offering win be S.
90, 900 at the least ;"
The Steel Cooperation Is the first
prominent Industrial organization to
make public its plan in respect to the
great war loan. zls;s5 ~, laf
The directors sets aside $50, 900 from
Aarnings as q &ift to i hess YsM C. A
fund for army and navy work This
was dome upon receipt OF an appeal
from leaders in the association asking
TOR aid In raising 5000 COO
The declaration Of 8 per cent. extra
on. the jUnior shares, Judge Gary
pointed out, when added to the / "a
per cent paid last quarter and the
two extras OF per cent each before
that, reimbursed stockholders for the
oIss 0f div5iendss In 1sf4-15- 8 For the
full year OF 1915 salare-owneIs received
no retu1n, and small payment only
IN the final quarter OF 1914 With
paid per cent annually since 1910,
md II Is understood to be the fnten-
tion. Of the management to keep it on
t1sat regular basis. irrespective OF the
sdEe OF earnings
Tho corporations final surplus in
Tho March quarter amounted to $6S,-
F8eS, 031. and was more than double
thai. Of the same quarter last year
81, 907, IFS Required for Dividends.
The quarters income was s8,1 81 900
greater than In the preceding quarter
and the biggest three months In point
Of earnings that the corporation ever
reported The extra dividend, together
with the usual quarterly disbursement
of u per cent ON the common and
= r
wolves the Outgo Of $27,9O7,775. The
Tremendous income of the corporation
Is illustrated by the fact that the poor
est month Of the three February
brought in net revenue Of IS, 400, 900
larger than the full dividend require
nent for the quarter. The month OF
March recorded net Of $43,630,422,
which alone exceeded every other full
quarter from the corporatton's incep-
ktpn IL. 1901 to 1916, with the excep-
tion OF three s Two Of these were in
the boom year of 1907 and the third
was the final quarter OF 1915. with an
income amounting ITO $51,277, 900.
The January earnings aggregated $685.
4 074,425-
Commenting on the results OF the
quarter, Judge Gary said they were
satisfa Glory and there seemed to be
no 1ef-up in the demand for steel pro-
ducts.
The tendency of prices is still up
ward" he added, which is condition
that /, persefAlly, DO not desire to see
prolonFerss 9afssrs a0sslsS e
Tie report for the quarter. showed
untitled orders as Of March 81
amounting to 11.711,644 tons. The
preferred stock dividend is i payable
May 20 and the dividends on the COM
mon on June 20.