When the directors of Bethlehem Steel some time ago decided to pass the common dividend, considerable pessimistic comment was occasioned about future prosperity for the "independent" steel companies. This attitude was, for the time being at least, borne out by the company's statement for its third quarter this year, ending Sept. 30. During these three months, total income was $6,495,731; after interest, etc., of $3,466,107 and depreciation and depletion of $2,927,457, the net income amounted to only $102,167, or nowhere near enough to cover preferred...
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