The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-27
u. s. STEEL GAINS
S5,OOO,OOO IN net
Profits Before Charges Are
$48,051,540 for Third
1920 Quarter.
JULY EARNINGS ADVANCE
Income Available for Common
Stock Is Equivalent to
SAT- O Share.
JULY EARNINGS ADVANCE

The United States Steel Corporation
during the third quarter Of 1920 earned
net profits. before charges for deprecia-
ton. interest. &C.. s4S.O51.54o. ON in
crease OF approximately 100000 COM
pared with those of the preceding quar-
ter. The net income available for dis |
tribution on the company's stock
amounted to sSo.52s.e39. equivalent to
$4.77 a share earned on its common
stock after deduction Of its preferred. |
dividends. In the preceding quarter the
corporation reported profits. before
charges. of s43.155.705 and net income
available for dividends equivalent to
s396 a share on its common stock.
The monthly features OF yesterdays
report were considered unusually inter-
esting in Wall Street, as they showed
that the companys earnings, before de-
duction of charges, were larger In July |
than In any OF the three preceding
months. In August and September they
were well in excess of S16.000,000, In
contrast to S12.S96.451 in April. $751;
s0s.5s6 in May and s16.462.534 in June.
Gross earnings of the company for the
three months, before deducting interest
charges on the bonds of It's subsidiary
companies. totalled $5o.145.S01 and
after deducting those charges. $4S.051,-
$40. Charges and allowances for de-
probation, extraordinary replacement.
sinking fund. &C.. aggregated $12,312,-
403, leaving net income of $35,7S9.137.
Interest on the corporations bonds
amounted to $4.99s,39S, and permiums
on bonds redeemed to $212,100. leaving
a final balance available for dividends
OF s30,52S.639. The regular dividends
of IN per cent. on its preferred stock
and IA per cent. on its common were
declared, leaving a surplus for the quar-
ter of $17.S69,939. The preferred divi-
dend Is payable on November 20 to
stockholders of record on November i,
and the common dividend on December
80 to stock of record on December 1.
The corporations month to month
earnings during 1920 have been more
or less erratic as disclosed in the re-
ports issued every quarter. The report
made public yesterday showed that July
was the biggest month Of this year in
earnings, and that its gross earnings,
before deduction of interest on sub
sidary companies bonds. amounted to
s17,186,720, or nearly 100000 more
than the earnings for January. about
$4,000 900 more than those for Febru-
airy and approximately 100000 more
than those of March. In April. the poor
fore charges were only S12.S96,451, or
more than 100000 less than those
of July. The slump Of $1.000.o00 be-
tween July and August was more than
half made up In September. when the
earnings aggregated s16,S70,197
For the first nine months of 1920 the
company's net earnings before charges
aggregated $133.296.264. against $685.
o2l,917 in the corresponding period OF
1919 and s162,480,404 In the first three
quarters of 1913. Deductions for the
period amounted to s50,300.3 07, against
S4S,S09,747 In 1919. leaving a balance
available for dividends of sS2.995,957. in |
contrast to S59,212.170. Preferred divi-
dends for the nine months were S1S,914.-
757 and common dividends $19.061.343,
leaving for the first three-quarters of
the year final surplus of s45,019.S57. |
which contrasts with S21,236.100 last
year and s87,S90,43s In 1918.
Appended is the tabulated statement
of earnings for the quarter ended on
September so. as given out yesterday, |
following the regular meeting of the |
.company's directors:
EARNINGS.
Bal. OF Earn. |
July, 1VZO -. - lo'foo'ouS |
August, l92O. ....-.-......s...'. lo,ffu,4lo
September. 1920. ............--.. lo,li4,oz2
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