Salt Lake Telegram | 1934-04-02 | Page 1 | Steel Reports Business Gains

STEEL REPORTS BUSINESS GAINS Operations of U U. U S. S Corporation Corpora Corpora- t tion on Show Increase O Over er erI I v I Year Year- r. r A- A Ago gOT HOBOKEN N. N J. J April 2 UP- UP The United States Steel this week is operating at t 40 per pcr cent of capacity as a against per per cent centa centa a year ear ago and the number of oC em em- i is only less than the figure for 1929 I ron C. C Taylor chairman said at the annual stockholders stockholders stockholders' stock stock- holders holders' meeting tOday Directors were reelected ro In 1929 the corporation had men and women in its employ I ot of whom were working on construe construe- lion tion To Today ar the company compan has at work on an average of 29 hours a week and the basic rate of pay has increased 25 per c cent nt from the level of last July Taylor said Aims ot of the N R A to increase employment em- em were upheld by Taylor who said that prior to formation of the N R A the steel corporation had devised a plan for distributing work among as great a number of men as possible and that the pro program ram had been carried out even at the low point of the depression when opera were down to 9 per cent of capacity No profit sharing plan can be considered con con- Taylor said in answer to a i until holders of both classes or of stock have shared In bu- bu tion of the profits Earnings must exceed annually before any profit sharing plan can be considered con con- he said