Business & Finance: Steel Meeting

Although there are some 100,000 individual stockholders in the U. S. Steel Corporation, the company's annual meeting was attended, last week, by the usual corporal's guard of about 100. Judge Elbert H. Gary, in his remarks, particularly stressed the need for conservatism in the payment of dividends and the undesirability of distributing surplus under present conditions. Evidently, the stockholders have in some cases been disappointed in their treatment by the directors and have, been saying so. Judge Gary stated that the Company's surplus had reached $517,061,308, but that it was necessary to meet...

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