The Ely miner., 1943-04-01
D. S. Steel Reports 1912 Production
28 Per Cent Greater Than World
War 4 Peak

United States Steel Corporations An
nual Report for 1912. reporting attain
ment of steel ingot tonnage production
% per cent greater than in the peak
year of World War ], has Just been
released as "a production story-and
financial Story-of great war effort.
Production by U. S. Steel In 1912 or
more than &c. .000. 900 net tons of ingots
as well as the manufacture of steady
flow of products entering INTO tnou-
sands of items used In prosecuting the
war were described by Irving 5. Olds.
Chairman of the Board of Directors. IN
his review of the year contained IN the
Corporations torty-tirst annual report.
The victory parade of steel ingotS was
listed as only one of several principal
contributions of U. S. Steel to the war
effort. These contributions were emu
merated as follows: First. record vol
unne of steel and other materials needed
not snly for the fabrication OF essential
war products but also for the creation
of new facilities to make such war
products has been produced. Second,
the technical ability representing many
decades of accumulated research and
experience has been made available for
the requirements of the Government
Third. the construction and operation
of vast new facilities for the Govern
ment IN connection with the war effort
of dollars of U. S. Steel's funds have
been expended for various facilities
contributory to the war effort
A one-page condensation OF the
financial record of the Corporation for
the year describes IN simple language
what disposition was made of the
s.. .8S5 ,951 .692 received by the Corpora
ton from sales Of its products and ser
vices during 1912. Employment costs OF
S763 million in 1912 were 25qo greater
than for the previous year: 1912 taxes
of s2o4 million were 21So more than in
the preceding year: while dividends to
stockholders remained unchanged me
amount carried forward for future
needs Of the Corporation was 1870 less
than in 1871.
Among achievements cited is the de-
velepment of the airplane landing mat
The serious problem OF handling plane
landings on hastily built air fields was
solved with the wartime invention BY
Carnegie-Illinois Steel Corporation. a
Z. s. Steel subsidiary, Of a landing mat.
consisting OF portable interlock1ng steel
sections Il was pronounced the out
standing development of the year IN the
field of aviation by the Chief Of the
Army Air Force. As mass production
methods were evolved, other companies
were licensed to use the process, and
thirty smaller manufacturers are now
producing these landing mat sections
IN quantity.
The report reveals that In 1912 one
subsidiary, Federal Shipbuilding and
Dry Dock Company. completed more
deStroyers for the Navy Department In
shorter building time than any other
shipyard in the country. A new ship
yard built by this subsidiary for the
Navy Department began operations Eve
months after ground was broken. A
fully equipped shipyard for the produc-
ton of the latest type Of tank landing
craft was constructed and is being
operated for the Navy Department by
American Bridge Company. another
subsidiary.
An interesting comparison Of the use
of U S. Steel's own resources and Of
Government funds for the expansion Of
emergency facilities undertaken by
y. S. Steel from June, 1910, to the end
of 1892, shows that the ratio of U. S.
SteePs investment TO the use Of Cow
eminent funds was CSC Of its own
money 10 every dollar Of Government
funds used. This compares with q ratio
for all industry of &c of private funds
TO enc dollar Of Government funds.
In this expansion program. U. S. Steels
private investment was S282, ,000, 900, as
compared with S436. .000. 900 Of Govern
ment funds expended, making a total OF
718,oo0, 900 expended in the program
AdU-