Cents 20 15 10 0 PROFITS PER DOLLAR OF SALES BEFORE AND AFTER FEDERAL TAXES TEN LARGE IRON AND STEEL COMPANIES ANNUALLY, 1939 - 1951 1939 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 SOURCE: Data supplied by the Board of Governors Federal Reserve System, special sample of 10 iron and steel companies included in the Federal Reserve sample of large corporations. These 10 companies are: Armco, Bethlehem, Inland, Jones & Laughlin, National, Pittsburgh, Republic, U. S. Steel, Wheelin g and Youngstown. The following note was supplied by the Federal Reserve: Figures were derived from income data and year-to-year changes in balance sheet accounts as shown in the Composite Balance Sheet and Income Statement. Asset write-ups and write-downs, stock dividends, and other nonfund bookkeeping transfers are now shown separately, but are eliminated from the income data and changes in balance sheet accounts in the Sources and Uses of Funds Statement, and Office of Price Stabilization. ANNUAL RATES OF RETURN ON STOCKHOLDERS' INVESTMENT FOR TEN PRINCIPAL STEEL COMPANIES COMBINED' The companies are: U. S. Steel Corp., Bethlehem Steel Corp., Republic Steel Corp., Jones & Laughlin Steel Corp., Youngstown Sheet & Tube Co., Noitional Steel Corp., Inland Steel Co., American Rolling Mill Co., Wheeling Steel Corp., Otis Steel Co., (absorbed by Jones & Laughlin June 30, 1942), Pittsburgh Steel Co. 2Federal and other income taxes. 3Denotes loss. -5 1917 1920 Source: Compiled by Federal Trade Commission for Basic Data Relating to Steel Prices, Joint Committee on the Economic Report, 81st Cong., 2d sess. Data for 1949, 1950, and 1951 were supplied later, and Office of Price Stabilization. *Annual equivalent based on first half of the vear. The Industry Earnings Standard base is 85% of the earnings of the best three of the four years, 1946-49, inclusive, which is 16.2 percent on the basis of this series. R Slight revisions have been made in 1949, 1950 and 1951 to adjust for an acquisition by one of the companies. Source: Data supplied by the Board of Governors, Federal Reserve System, special sample of 10 iron and steel companies included in the Federal Reserve sample of large corporations. These 10 companies are: Armco, Bethlehem, Inland, Jones & Laughlin, National, Pittsburgh, Republic. U. S. Steel, Wheeling, and Youngstown, and Office of Price Stabilization. Total assets (end of year) 3,932 4,090 4,322 4,787 5,084 5,059 5,006 4,574 4,755 5,227 6,003 6,214 7,119 8,240 Includes relatively small amounts of intangible and current assets not shown separately. RSlight revisions have been made in 1949, 1950 and 1951 to adjust for an acquisition by one of the companies. Source: Data supplied by the Board of Governors, Federal Reserve System; special sample of 10 iron and steel companies included in the Federal Reserve sample of large corporations. These 10 companies are: Armco, Bethlehem, Inland, Jones & Laughlin, National, Pittsburgh, Republic, U. 8. Steel, Wheeling, and Youngstown, and Office of Price Stabilization. Includes relatively small amounts of intangible and current assets not shown separately. R Slight revisions have been made in 1949, 1950 and 1951 to adjust for an acquisition by one of the companies. Source: Data supplied by the Board of Governors, Federal Reserve System; special sample of 10 iron and steel companies included in the Federal Reserve sample of large corporations. These 10 companies are: Armco, Bethlehem, Inland, Jones & Laughlin, National, Pittsburgh, Republic, U. S. Steel, Wheeling, and Youngstown, and Office of Price Stabilization. |