The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-04-30
NO EXTRA DIVIDEND
ON STEEL COMMON
Regular Preferred / 3D. P. G
and / IA P. C. on Common
Are Ordered Paid.
NET EARNINGS DECREASE
Surplus for First 1919 Quar-.
ter Gains Due to No Extra
Dividend Decision.

No extra dividend for the common
stock Of the United States Steel Corpora.
ton for the quarter ended March 81,
1919. was the decision OF the directors
OF that corporation at their quarterly
meeting. held yesterday. Tho regular
dividends Of ~ per ces.. on the pre-
ferred and IN per cent on ire common
were ordered. AZ the last quarterly
meeting an extra payment Of / per cent.
was made on the common. Three months
earlier per cent. extra was paid, prior
TO which tho extra disbursement had
been for long time psr cent The
preferred dividends are payable on May
20 to stock OF record on May s, and the
common on June 20. to stock of record
on May 10.
Tho net earnings OF the corporation,
for the nrst three months Of the year as
shown by the quarterly statement were
&17.+s1.o16. after deduction of all
charges. including Federal income and
excess pront taxes. which In equivalent
after deduction Of preferred dividends to
Saso a share on outstanding common
stock. In the preceding quarter the net
earnings totallcd Sa0,73s,ssa, or Ss.s4 a
share on the common.
Tho net income reported for the first
quarter OF 1919 was 333,6la,SS4, against
1886, l66 for the last preced mr. QUAR-.
ter and e6e.s6l.424 for the corresponding
quarter OF 1918. Tho surplus after ali
charges, dividends. etc. was larser for
the hrst 1919 quarter than that of tho
December quarter. but IL explained in
the failure to declare an extra dividend
The surplus for the March quarter was
S4,s22.3l6. against S2.ss7.256 for the
December quarter and Sl5.oaa,6oi for
the March. 1913, quarter. No compar.-
son can be made as to taxes paid. a. the
statement OF the FIRST 1919 quarter fails
to disclose the amount set ASIDE for that
purpose. In the last three months Of
1913 S6o,o00.U00 was reserved for taxes
and In tho hrst quarter of last year
ssl.bsb.1ss was set aside for that pur-
pose.
The total earnings before deduction
OF subsidiary companies bond interest
declined steadily during the nrst three
months Of this year. being Si2.s7s,s73
for January and a little moro than
Slo.ooo.ooo for March. The balance Of
earnings after the payment OF Interest
on those bonds was 3l2.240.1S7 in Janu-
AIRY. 3li.ss3.oa7 in February and $780,
100 for March. In January Of last year
the balance OF earnings was 3ls,l7s.187,
in February S11sl3.Ss3 and In March
s16.47i.3o4. In 1917 they were a. fol-
lows: January S3s.o74.4i5. February
438.+16.l71. March 343.s30.4f3.
Judge Ebert H. Gary. chairman Of
the board Of directors Of the company,
refused to comment on the report or on
the dividend declaration.
After the directory meeting no
authoritative statement could be OBJ
tanned al to the present rate OF opera
ton nor as to the prospects for the i'm
mediate future. Judge Gary declined TO
amplify the income statement in any
way. He would not say how much had
been set aside fer Federal income and
excess profits taxes.
The following table Is a comparison
of essential features Of the reports for
the hrst quarter OF 1919 and tho last
quarter OF 1918: