The sun. [volume] (New York [N.Y.]) 1916-1920, 1917-01-31
.U.S.STEEL PAYS
DIVIDEND
Record Earnings in Last
Quarter Permit 1 81
Per Cent. More.
GRAND TOTAL, $1O5, 1858, 347
Aggregate Dividends for Year
$67,1OO,OOO and Surplus
Gains Heavily.

Directors of the United States Steel
Corporation met yesterday afternoon
and framed the most agreeable surprise
Wall Street has had since the beginning
of the war. They reported net earnings
for the last quarter OF 1916 of s105,s6S,-
347 which is by more than s20,000.000
the largest ever reported by the corpor-
alton in a similar period. and declared
an extra dividend of IN per cent. on the
common stock in addition to the reg
ular quarterly disbursement Of ~ per
cent
Accustomed as it is to big figures.
these earnings astounded Wall Street.
No one had figured that the earnings
would be above 500. 100000. Even at
the close of the market, a few minutes
before the earnings were announced. bet
ting was even that they would not ex-
ceed ss5. 100000.
The extra dividend was little short
of expectations. The Street had been 50
sure that the directors would vote at
least 9 or even ga per cent. that thou
sands of dollars had been placed at even
money that such would be the rate
Jump OF SbO,OOO.OOO.
The earnings OF sI05.sSS.s47 for the
last quarter compared with SS5.Sl7,067
were by nearly s5.oOo,OoO the largest in
the history OF the corporation. Just a
year ago, for the last quarter of 1915,
the corporation reported S51.277.504,
which at THAT time set a new high record.
1t was at that meeting that the regular
IN per cent. quarterly disbursement
was resumed by the directors.
Earnings for the year ended Decem-
Der 81. 1916, based on the four quarterly
reports which have been issued during
the twelve months. were the largest in
history by a wide margin They totalied
s33s.s25. .0s5.s6. an increase OF more than
S20O.0O0.00 over the 1915 earnings
which were about sl30,0O0. 900 In 1914
the earnings for the whole year were
only s71.000.000.
The surplus for the year. based on
the quarterly reports, amounts to $246,-
4l2,21s. equal to about As per cent on
the common stock outstanding. The sur
plus after the dividends on the common
stock is s2o1.s+5,74s. an increase OF
s157,730,032 over 1915. The following
table gives the detailed earnings OF the
corporation for 1916:
Net earnings ssss s25 Os6 Inc 500. .g.3 7eC
Sinking fund, &c. 1885,. AS Inc usi7. $50
Balance .......... S2s5. .75s GIL Inc slsI 42s 20,
U. S. s. bds........... 24.25sa42 Dec. $3.50. .s47
Balance ,,,.,... . s2Il. .5O2 eSe Inc slss s0- *,
An. credlts.......... l29626 Dec. 664 4S
Totals .......... S27l 63i, sos Inc. sla5 s42 T20
Preferred dividend. 25.?l9,s77 Unchanged
surplu. :s.s,.ls2is % ,.s Inc. ,,lss s.s q q
Common dividend. 44,466 t6e Inc. 3s,ll2.sss
Surplus ssv ,sIs,7ts Inc. .si57 73o 90.
The regular quarterly dividend Of 81
per cent. on the preferred stock called
for a payment of s6.304,92O, the regula,
dividend on the common Of s6.353,7S.
and the extra on the common stock S..
S95.294, making a total dividend dis
bursement for the quarter Of $21.553. .996
compared with s17,741.725 in the previ
Gus quarter.
November Rest Month.
The highest record for monthly earn
ings during the past quarter was estab
lished in November with $36.443543
The highest previous monthly recort
was in September. with earnings Of $50.
420,l5S. In October and December q
the last quarter the earnings were $685..
1888 and s34.347.4ll respectively.
The detailed statement OF the las
quarter as given out yesterday by Judge
Gary. chairman OF the corporation. fol
lows
Earnings Be.