OCR Text |
Show STEEL COMPANY SHOWS LARGE PROFIT IN 1924 Annual Report of Columbia Steel Corporation Reveals Big Earnings. riTTSBrnG, Oil., March 0. The Coin ml Steel corpora lion, wlise Fittslmrg plant, wns enlarged to the extent of close to half a million dollars dol-lars during the past year, and whose l'rovo plant was completed early hist spring, made net earnings of $205,100.55 during the year, according accord-ing to the annual report submitted: to stockholders at the annual meeting meet-ing histj week in San Francisco. The good business of the year past was indicated in the increase of the surplus account from $837,458 a year ago to $Si)7.3S0 this year. President Wigginton E. Creed reported re-ported that dividends on preferred capital stock paid totaled $470,flG4, while other dividends paid amounted amount-ed to $2fi,887, or fi total dividend payment in 1024 of $497,851. Gross income of the company during 1924 amounted to $SG2,842, while from this sum $507,730 was deducted for interest, taxes and amortization charges. All directors were re-elected nnd the hoard again chose the same officers. offi-cers. President Creed made the following statement of the year's business: 'Considering the condition of the steel industry in 1924, the showing of the Columbia Steel corporation is highly satisfactory." |