The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-01-15
STEEL EMPLOYEES
GET STOCK FOR 92
Price to Corporations Force
Will Be Same as That Of
1918 Offering.
LOT IS $4,000 SHARES
Provision Made for Workers
in United States, Army
or Navy.
IT IS $4,000 SHARES

Employees OF the United States Steel
Corporation will be privileged TO pur-
chase the common stock Of the corpora
ton at 90, according to an announce
ment made yesterday by z. II. Gary,
chairman Of the corporation. The price
is tho same at which the stock was
offered to employees last year. when
total subscriptions this year are e1-
pected to equal f not exceed those OF
1918.
The circular carrying the announce
ment Of the offering to employees is be
ing mailed out by the corporation. 1t I.
exactly the same in all respects AS that
accompanying the offering Of 1918, OK
cept that provision is made for EN-
ployees OF the big corporation who ave
in the military or naval service OF the
United States. The circular provides
that all United States soldiers and sail
srs who were employees OF the cornorS-
ton and who return to their positions
before July |. 1919, Will be entitled to
subscribe One other change ia the daie
of the closing Of subscription boohF
which is fixed as February Is, 1919, IN
stead Of January 90, as previously
Offering, but it IL considered Irohahl>
that IL the subscriptions exceed thst
amount full allotment will be made 80
in the past. Since the plan for stock
distribution among employees was first
Instituted in 1903 a total OF 36l,2S4
common shares have been disposed OF IN
this manner.
Ono Of the reasons given for ant!cipa'-
ing a larger subscription this year than
last, when the record OF 95.437 was srr'h-
scribed. il the higher average OF wages
among employees entitled to participate
Last year the average wage was in IN"
neighborlood of $500. as against S1,2s"
in the previous year. All classes o.
workers in the organization arc per-
mitted to take advantage of the offei
being limited TO total subscription by the
amount Of wages received during th'
past year Those who are paid $500 or
less may subscribe to one share from
S691 to $1.533, two shares, &c, with the
scale running upward to a peak or
seventeen shares for employees receiving
between s1s.s75 and $4,000 annually.
The total of individual sub scriptions in
January, 1918. was 43,25s. establishing
record Of number of employees taking
advantage of the offer as well as Of the
total amount subscribed by all.
1t was in 1908. just sixteen years ago.
that the United States Steel Corporation
instituted the plan Of making annual
offerings of stock to its employees who
could pay for it out OF their earnings
during the following year. For the first
six years only preferred stock was
offered In this way, but in 1909 both
common and preferred were placed AZ
the disposal of the employees. Again il
1910 the workers were allowed to sub
scribe for the preferred only.
For four years from 1911 both issues
were offered to the workers, and botA
we're literally subscribed for In 1917
it was deemed inadvisablc because OF
general conditions to mako stock offer
ing, but the plan was resumed in
1916, with only the common stock
offered, and It has continued along this
| line up TO the present time.
The average price which employees OF
| the corporation have paid for total Of
| 361 ,234 common shares since 1909 is rs
The average price paid for a total ~
| 361,11 preferred shares between 1902
| and 1914 was 9S7s.