Mr. Schwab's steel company, despite its increasing capitalization, did rather well by itself last year. Its 1923 annual report, published recently, showed net income of $14,374,152 after interest, depreciation and taxes were deducted. After the $4,318,253 paid out on the company's two issues of preferred stock, $6.46 was earned on the average amount of common stock outstanding during the year. This compares with the net income of $4,605,330, or $1.14 a share on the common stock, during 1922.
The statement shows evidence of expansion in most of its items of credit. On Dec....
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