Show l r U. U S. S Steel Action Is Regarded Retarded a as Optimistic i f NEW YORK April Apri 28 U AP WaIL AP Wal AP-Wal Wall Wallstreet street today regarded the action aeton of the of-the U the e I United States Steel teel corporation In pla placing ing tog I its common stock ou 0 a regular a ai an 1 nual dividend basis of oil 1 p per r cent dence donee of continued and prospective gen general e eral prosperity The TI form former regular ra rate rale Ie was a 5 pet per percent cent with quarterly extras extra of oC SO 80 10 cent cettl The ThO new rate tle does doe not Involve c payments or meet the demands of sor k stockholders for increased merits ments but Is regarded as a a 1 gesture In that direction The 7 per cen cent rate et was 11 suggested by J 1 P. P Morgan at l a a a. directors directors' meeting yesterday i ment The is I. company's the lbs eP most f favorable latest brea earnings In I two y statement state ars j Elbert II n. OH Oar Or elected re-elected re tn to th the chairmanship he ban baa bal held since t t tOte the t founding Of ot the company In nOt nil the crop outlook and labor conditions werI were excellent and that the of congress congre s was satisfactory H tie lIe re opposed a suggestion of distribution distri button buton o t of the company's surplus In the form ot of dividends No one can predict with a feeling j of certainty what t Is going to happen happen- he said But It seems to me me- hat the general business of this country country- t Is In very good shape and that there Is cause fo for congratulation that Is so much business being transacted that the demand for everything of ot neet ne costly and comfort Js so great and that there Is plenty of money to pay for purchases S i S S1 1 |