Salt Lake Telegram | 1921-07-27 | Page 8 | Outlook Bright Declares Gary

DECLARES Optimistic Statement companies Report of U.S. U. U 4 S. S Steel Corporation fi NEW TOnIC TORK July 27 The Tho United Slates Slates' Steel corporation reports that lt Its earnIngs for the tho quarter ending Juno June 30 were 51 the smallest of any quarter March 1015 Just prior to the war when they fell to Regular dividends of 1 per cent on the preferred shores shares and 1 per cent on the common wore declared but to meet the requirements o of the tho common dividend on on which only 36 35 dents was vas earned it wa necessary to draw from tho corporations corporation's r huge undivided surplus Analysis of the tho corporations corporation's month monthly business shows show earnings of April In May and June Net Income for the tho second quarter amounted to against In the preceding preceding- period This Item would would- have shown moro more drastic dastic reduction but charges and allowances for depreciation were vere much smaller than In the first quarter quarter- of the tho year I 1 Chairman Elbert H It Gary issued a state stata- 1 mont ment In which he stated that the tho results for the tho quarter were not surprising I to 10 anyone familiar with general conditions condition He lie added that many manufacturing con con- corns have havo been operating at at- ata a loss This ha he declared is no less censurable than In In- l upon unconscionable profits profit and cannot bo long continued Commenting upon the tho future he ho said As stated at the meeting of the tho Amer lean ican Iron and Steel Steel- Institute last May In In is headed in tho right direction means a great deal for at some date In the tho future futuro there awaits the biggest busness bus bus- ness fleas this country has over ever witnessed The Tho fundamental facts for this conclusion are aro assured The undisputed figures amount to toa toa a demonstration Just at this point there are aro many reasons rca rea sons son for believing our conditions are improving im- im proving even though we may not as yet have havo experienced to a largo large Extent the good results Readjustments were 1 ary sary and they have been progressing with beneficial effect 1 The Tho financial aspect of this country and other countries has been Improving and anS to most molt of us us itt fit least looks bright TIme The banking institutions of the tho United States are sound Our resources are enormous enormous' our people aro ready read anxious and able to do business Everyone Is called on to do his hIi or her part In tho endeavor to return to a sane and reasonable basis and th the sooner this opinion becomes practically unanimous the earlier we reach thi goal of prosperity the tho apparent distant distance of of- which depends on Individual vision A