The Hardin tribune-herald. [volume] (Hardin, Mont.) 1925-1973, 1943-04-01
U. S. Steel Reports 1912 Production
20 Per Cent Greater Than World
War Peak

United States Steel Corporations An
nual Report for 1912, reporting attain
ment of a steel lngot tonnage production
20 per cent greater than in the peak
year of World War l. has Just been
released as "a production story-and q
financial Story-of a great war effort
Production by U S. Steel in 1912 OF
more thar 80. 900, 900 net tons of ingots
as well as the manufacture of a 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
his review of the g contained in the
Corporations forty-frst annua report.
The victory parade of steel ingots was
listed as only n Of several principal
contributions of U. S. Steel to the war
effort. These contributions were EMU
merated as follows: First. a 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
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
a been undertaken. Fourth, millions
of dollars of U. S. Steel's funds have
been expended for various facilities
contributory to the war effort
- Ole-pdPe "nOcDSdtlO o. Ile
financial record of the Corporation for
the year describes IN simple language
what disposition was made of the
Sl.8G5 ISL .692 received by the Corpora
ton from sales OF its products and SER
vices during 1912. Employment costs of
S7S3 million in 1912 We're 25fc greater
thar for the previous year; 1912
of S2O4 million were q, o more than IN
the preceding year, while dividends to
stockholders remained unchanged. he
amour carried forward for future
needs of the Corporation was 1870 less
than in l94l.
Among achievements cited is the de-
velopment of the airplane landing mat.
h serious problem of handling plane
landings on hastily built air fields was
solved with the wartime invention by
Carnegie-Illinols Steel Corporation. a
u. S. Steel subsidiary, of a landing mat,
consisting of portable interlockins steel
sections. 1t was pronounced the out
standing development of the year in the
field of aviation by the Chief of the
methods were evolved. other companies
were licensed to use the process. n
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 h Navy Department in
shipyard in the country: A new ship
yard built by his subsidiary for the
Navy Department began operations Eve
months after ground was broken: A
fully equipped shipyard for the produce
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 u and OF
Government funds for the expansion of
emergency facilities undertaken by
u. S. Steel from June. 1910. to the end
of 1912. shows that the ratio of U. S.
Steel's investment to the use of Gov-
eminent funds was Csc of its own
money to every dollar of Government
funds used. This compares with a ratio
for all industry of &c of private funds
to one dollar of Government funds.
In this expansion program, U. S. Steel's
private Investment was S282. 000. 900, as
compared with S436. 600. 900 of Govern
ment funds expended, making a total of
$718.000 900 expended in the program
ADJ.