Business & Finance: Deals & Developments

Steel Dividends. While newshawks who had been waiting about an hour held a mock directors' meeting, irreverent & bawdy, the solemn directors of United States Steel Corp. pondered the worst quarterly earnings statements in the company's history. They finally decided to vote the regular preferred dividend, but in explaining the action to the Press Chairman Myron C. Taylor made it abundantly clear that "improvement in business and net earnings must in future determine dividend action on the preferred stock." Because a very similar statement had...

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