Browning chief. [volume] (Browning, Mont.) 1941-1953, 1943-04-09
U. S. Steel Reports 1912 Productjas
20 Per Cent Greater Than World
War ! Peak

United States Steel Corporation's. An
nual Report for 1912. reporting attain
ment of a steel ingot tonnage production
Year ye Per Of ee World ke War a has Just BeeH
released as "a production story-and a
financial story-of a great war effort:
Production by y; S. Steel in 1912 Of
as well as the manufacture of a steady
flow of products entering into thou
sands of items used in prosecuting the
de ba BY If dv1s s ods
his review of the year contained in the
Corporations forty-first annual report.
The victory parade of steel ingots was
Of g. s. steel to he 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
products has been produced. Second.
the technical ability representing many
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
have been undertaken. Fourth. millions
of dollars of U. S. Steel's funds have
eeen fo tho for war
A one-page condensation of the
financial record of the Corporation for
the year describes in simple language
Sl.865 95I .692 received by the Corpora
ton from sales of its products and SER
vices during 1912. Employment costs of
s7s3 million in 1912 were 25?s greater
than for the previous year: 1912 taxes
of S204 million were 2lgo more than in
the preceding year; while dividends to
stockholders remained unchanged. he
amount carried forward for future
naaHS NJ tho rnrnnratinn TAO. lasc
than in l94l.
Among achievements cited is the de-
velopment of the airplane landing mat.
landings on hastily built air fields was
solved with the wartime invention by
Carnegie-Illinois Steel Corporation.
U. S. Steel subsidiary, of landing mat.
sections. 1t 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
were licensed to use the process, and
thirty smaller manufacturers are now
producing these landing mat sections
The report reveals that in 1912 one
subsidiary. Federal Shipbuilding and
destroyers for the Navy Department in
shipyard in the country. A new ship
yard built by this subsidiary for the
Navy Department began operations five
after tbs
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
U. S. Steel from June. 1910, to the end
of 1912. shows that the ratio of U. S.
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. U. S. Steel's
private investment was S282. 000, 900. as
compared with S436, 900 900 of Govern
ment funds expended, making total of
$7l8.0oo.00o expended In the program
ADJ.