Show STEEl EARNINGS I SHOW DECREASE Nearly six Fifty-six Millions i Less Than During the Year 1918 New ew York March 21 Earnings t. Earnings S' S of or orthe the United States Steel corporation for 1919 19 aggregated ag a decrease decrease de de- crease of or 5 from 1918 according according accord accord- in ing to tho the detailed d report Issued to toda to- to da day This sum sum Is reached after al allowance allowance al- al lowance Is hs made malle for fOT estimated amount of federal income and excess profits taxes Earnings after interest payment on outstanding bonds and mortgages of or amounted to a n. decrease of ot net Income was a decrease of or no I and nd surplus net not Income was as 26 6 compared with Inthe in inthe the tho previous year ear Adding this surplus to the surplus accumulated by all companies from April J 1 1901 Including tho the provided for working capital c at organization organization or or- the tho corporation at the Die end of 1919 had a total undivided surplus exclusive e of or profits made mado by subsidiaries on sales of ot falls Off Oft The volume of oC done business by all companies of the corporation during 1919 as an represented d by combined gross grossI I sales aggregated ns 35 as s against 31 In tho preceding year The Tho combined general balance sheet fixed assets at the enormous total of Including current assets of ot l Among Amon tho the largest st Items In this account arc are Liberty bonds United States treasury cates cales and other marketable sec securities valued at t accounts and bills receivable of oC almost and cash in hand band and on deposit lt of oC I Casual reference Ms 18 Is made by Chair Chair- Ch lr- lr Continued on 1 Pigo ge o 2 2 EARNINGS OF STEEl COMPANY ARE lOWER LONER Continued from Page Pago 1 1 man E. E B. B Gar Gary to tho the coal shortage and md labor labor r difficulties of oC tho the later months of ot 1919 Hit when the tho output was only 67 per cent of or normal and at nt lowest lowest lowest low low- est ebb In October For tho the entire year output of finished steel teel averaged 7 per cent of ot capacity Production of ot Iron oro tell fell ell from 8 tons In 1918 to In 1919 manufactured coke decreased from rom fon tons tona to and rolled and other finished steel products products products prod prod- decreased from tons to Comparison of or tho number of ot em om- on tho payroll shows a n total of In 1919 and In tho the pro- pro ceding year but salaries and ancl wages In 1919 amounted to a. a as against ag In 1918 1913 This Is accounted for by tho the fact that all em em- exclusive of or tho the general administration administration ad ad- ministration and selling forces re received re- re d an average c dan dally daily wage of ot In 1919 compared with In the tho previous year ear I I |