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Show WHY DIVIDE! I WAS SUSPENDED I ' jggH Gary Company Was Con- fronted With Serioui Situa- pi tion Refuted to fjgn Cut Wages. MEN ENTITLED TO PAY ffl I : III Judge Sure Country Will Proi- per Pledges Thorough and Careful Manage-ment. Manage-ment. New York. April 19 Directors of fcM, the United States Steel corporation, It became known today, in voting at r'Wr; their last quarterly meeting in Jan- :M uary to pass the last dividend on the ki comon stock do so in the face of op- tSw position of many stockholders, who thought the devldend Bhould be cleared jV'jjgL even if the corporation had to reduce wages to obtain the money. L'Vw Elbert H. Gary, chairman of the r''jH corporation, divulged this situation at the annual stockholders meeting In Cl-T'i Hoboken today. In a formal state- EMjS ment Judge Gary said: ERa3y' "We were sorry to hear that so many stockholders Insisted that com & 'V-.'h mon stock dvidends be paid even if '-i'v we had to reduce wages to do it. 1 ' "i Impossible to Pay Dividend. f 5 "The mtnagement was sorry to be f" -.H'V obllged to pass the dividend on the common stock. We had been hoping f and had expected to continue the pay- Ff ! ment of the dividend without inter- r - ruption but conditions were 6uch that I It was impossible. We were confront- f , H ed with the choice of passing the dlvt- fv' I dend or reducing wages In view of f , the present high cost of living, we II I I believed that the men were entitled I to the wages they were reeeuinq which we think are not too much." f, Continuing his statement. Judge 1 Gary 6aid : "I assure you that tho f . country will prosper and I want to mM pledge again that the management of i I this corporation is soing to be thor- t oufih. open and careful Ln "Our position among the nations of flrjj the world is taking the lead. Fi- r v- nance, industry and commerce bet- f V ter today than ever before.' lif. I I rwr sS |