Business & Finance: Deals & Developments

Steel & Dumping. Bethlehem Steel Corp., which in good times makes less money than U. S. Steel Corp., last week reported a first quarter net loss of $3,685,000 against "Big Steel's" spectacular loss of $13,218,000. Bethlehem Steel surprised Wall Street by ordering the regular $1.75 quarterly dividend on the preferred ($1,645,000) but investors seemed to take an omission next time for granted. The preferred sold at $38 to yield 20%.

The announcement of U. S. Steel's earnings and omission of the common dividend was brief and formal. Chairman Myron Taylor did not even...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!