Dickenson County herald. [volume] (Clintwood, Va.) 1939-195?, 1943-04-01
u. S. Steel Reports 1912 Production
% Per Cent Greater Than World
War | Peak

United States Steel Corporations An.
nual Report for 1912, reporting attain
ment of steel ingot tonnage production
% per, cent greater aa than a., IN tne PEAK pear
released as "a production story-and q
financial story-of a great war effort.
Production by U. S. Steel in 1912 OF
more than 100000 net tons of ingots
as well as the manufacture of steady
flow of products entering into thou
sands of items used in prosecuting the
war were described by Irving S. Olds.
Chairman of the Board of Directors, in
Corporations forty-frst 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.
ume of steel and other materials needed
not only for the fabrication of essential
war products but also for the creation
of new facilities to make such war
has sx
decades of accumulated research and
experience has been made available for
the requirements of the Government.
Third, the construction and operation
ment in connection with the war effort
have been undertaken. Fourth, millions
of dollars Of U. S. Steel's funds have
been expended for VARIOUS facilities
GOnLT1DuCOry 10 the WAL EIIOIts
A one-page condensation of the
financial record of the Corporation for
the year describes in simple language
what disposition. was made of the
$1,865 ,951 ,692 received by the Corpora
vices during 1912. Employment costs of
S783 million in 1912 were $50 greater
than for the previous year: 1912 taxes
of $204 million were 2l9o more than in
the preceding year; while DIVIDENDS to
amount carried forward for future
needs of the Corporation was 1870 less
than in 1941.
Among achievements cited Is the de-
The serious problem Of handling plane
landings on hastily built air fields was
solved with the wartime invention by
Carnegie-Il Illinois Steel Corporation.
U. S. Steel subsidiary. of landing mat,
sections. It 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
mernods Were " wee ana
thirty smaller manufacturers are now
producing these landing mat sections
in quantity.
The report reveals that In 1912 one
f Dry DOCK Company anraai conspleseds 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 tve
months after ground was broken: a
fully equipped shipyard for the produc-
ton OF the latest type OF tank iahha ai1ag
operated for the Navy Department BY
American Bridge Company. another
subsidiary.
An interesting comparison Of the use
Of U. S. Steels own resources ana OF
Government funds for the expansion Of
emergency facilities undertaken by
U. s: Steel from June, 1870, to the END
Of 1912. shows that the ratio of y. S.
Steel's investment to the use Of Cow
eminent funds was CSC Of its own
money to every dollar of government
funds used.@This compares with ratio
for all industry of &c of private funds
TO one dollar of Government funds.
In this expansion program, y. 8. Steel's
private investment was $685., 900 600. as
compared with $43s oo0, 900 Of Govern.
rnent funds, expended, making total OF
S7i8ooo,ooo expended IN the program
Ado. L.