Strong Steel

World's largest steel company is U. S. Steel Corp. So basic is the steel industry that U. S. Steel earnings satisfy many a student as the index of U. S. prosperity. Prosperous was U. S. Steel in 1928, reported net profits of $113,998,984, an earning of $12.47 a share. The 928 report showed the second highest net income in the last six years, represented $3.67 increase over 1927 earnings of $8.80 a share. With a 1928 high of 172 1/2, U. S. Steel stock sold 13.8X earnings. Rumors of a stock split-up in connection with the financial report resulted in a rise in U. S. Steel quotations, but no split-up came. Meanwhile the Iron Trade Review called last month the best January in history for the iron & steel industry.