Show STEEL TRUST EARNINGS ri rin Enormous n Net Total Tot l As Shown by b Statement Issued Yester Vester Yesterday Yesterday day Is New York ork Jan 6 directors of the United States Steel to today toay tol day ay l declared de the regular quarterly div dh dividend of 1 per cent on the and 1 l per cent on err the th preferred stock A Ai i financial n J I statement was issued showing f net earnings fr r the calendar year with December estimated of 12 I The net earnings earni gs for fer the quarter end ended ended ed Dee Dec Si l were m an increase crease J of as compared with the same ame period of o 1901 From Prom the net earnings for the tb year deductions ded J are mode neade of for sinking funds depreciation and aRd re ic reserve reI serve funds and for a special fund set aside for depreciation depree and improve improvements I meats ments of OO O for interest on bonds of 3 on sinking funds V r for tor or bonds bands and oCi t for Interest on the stocks These deductions deduct leave leae undivided pronto profits mounting amounting to I 56 for fot the year applicable to increase depreciation tion and reserve fund accounts for new construction and surplus The cash on hand is The Th board amended the bylaws b laws by increasing the n number the finance and Henry C Prick Frick and Robert Rob it Bacon were elected members of the committee Th Tb The j board approved th lb thI plan reported by b the finance committee com mitte I for and subscription to tl tostock tostock stock by the It was reported report reported ed to the board that the plan for oi subscription was being well received by b the th Joyes and arid that within three days after the opportunity to subscribe was wag given more than 16 shares had haI ha been subscribed subs for J Pierpont organ was present at atthe the meeting although aU it is eus cus custom tom torn to attend meetings of corporations when they are not held In his office a |