Saturday, January 11, 1919 THE REVOLUTIONARY AGE The Truth About Bethlehem Steel By Scott Nearing HE Bethlehem Steel Corporation was born on nance. In 1912, 1913 and 1914 the amount charged the oth of December 1904 born to per was made by the war.
for repairs and maintenance was about the same each petual life under a charter granted by the The net manufacturing profit of the Bethlehem year; namely, a million and three quarters; in 1915 State of New Jersey. Since that time. Bethlehem Steel Corporation was eight millions and a half ia three and a half million was so charged; in 1916 nine Steel has been growing as every healthy child of capi 1913 and a little more than nine millions in 1914. In inillions, and in 1917 eighteen millions. The same talism should grow. The Bethlehem Corporation is 1915 it was twenty three millions, and in 1916 sixty thing is true of the charges for relining furnaces, etc.
an international capitalistic enterprise typical of capi millions. Even more striking is the surplus in the In the years from 1912 to 1915 these charges averaged talism at its biggest. Beside the Lehigh plant at pre war as contrasted with the war years. In 1913 about eight hundred and fifty thousand a year. In Bethlehem the Corporation has plants at Reading it was only a little over one million dollars; in 1914 1916 they were three millions and in 1917 10, 869, 000.
ton, Pa. at New Castle, Del. at Tituaville, Pa. at it was nearly five million dollars; in 1915 it was six great corporation like the Bethlehem Steel Lebanon, Pa. at Cornwall, Pa. at Steelton, Pa. teen millions; in 1916 it was thirty eight millions; charges off large amounts against the losses due to and at Sparrows Point, Md.
and in 1917 it was nineteen millions.
the working out of mines, the running out of patents When the outlook for the shipbuilding business be The total amount of money paid in dividends re and the general depreciation of its capital. From 1912 came bright the corporation went in for the produc flects the same condition. The Company paid divi to 1915 Bethlehem charged about three hundred thoution of maritime commodities. Through one of its dends of seven millions in 1913; less than five mil. sand dollars a year for amortization of patents and subsidiaries the Bethlehem Steel Corporation has se lions in 1914; eight millions in 1915, twenty three extinction of mining investments. Other depreciacured plants at Elizabethport, at Wilmington, millions in 1916, and thirty four millions in 1917. tion charges were: In 1912, three quarters of a milDel. at Sparrows Point, Md. at San Francisco, Cal. Bethlehem has been made by the war! Its pros lion; in 1913, one million and a quarter; in 1914, a at Alameda, Cal. at Quincy, Mass. at Squantun, perity is as distinctly a war prosperity as that of any million and a half, and in 1915, 4, 377, 000. For 1916 Mass. at Buffalo, and Providence, One other company in the United States. Until the time of and 1917 both accounts were lumped together as folof the San Francisco plants, beside the plants at the war the Corporation was doing badly, but since lows: 1916, 14, 351, 000; 1917, 17, 912, 000.
Quincy, Squantum, Buffalo and Providence is owned the war it has been a gold mine to its stockholders. In other words during the year 1917, Bethlehem by the United States Government, but operated by the The average net income of the Bethlehem Steel paid approximately thirty four millions in dividends.
Bethlehem Steel Corporation.
Corporation for 1911, 1912 and 1913 was 3, 075, 108; It made appropriations for additions and workThe Bethlehem Steel Corporation has extensive in 1914 it was 5, 590, 020; 1915 it was 17, 762, 813; ing capital of about forty seven million, five hundred quarrying and mining properties. Five quarries in 1916 it was 43, 593, 968.
thousand dollars. It invested 218, 330, 000 in re Pennsylvania and New Jersey furnish fluxing stone These figures are startling, but they are merely sur pairs and maintenance and 10, 869, 000 for relining for the Corporation. There are three large Cuban face indications of Bethlehem prosperity. They are furnaces, etc. It laid aside 17. 912, 000 as a depreore properties. One of them contains 3, 500. 000 tons the figures that go to the public. Behind them in the ciation fund and then bad a surplus for the year of of ore; the second, 560, 000, 000 tons of ore, and the reports of the corporation are figures of far greater 19, 143, 417.
third, 970, 000, 000 tons of ore. One of the three Cu significance.
Every worker in the employ of the Bethlehem Steel ban tracts totals 55. 000 acres. Corporation like the Bethlehem Steel Corpora Corporation should rejoice at these figures. They The Bethlehem Steel Corporation also controls im tion appropriates money out of its income for addi indicate a state of prosperity heretofore undreamed portant iron ore mines in Chile and important coal tions and for working capital. That is, it takes of, even by the most optimistic apologists for modern mines in Pennsylvania and West Virginia. The Cor a part of its earnings and turns them back into the capitalism. Never in the history of the economic poration has also organized a steamship company to business without ever giving the stockholders a look world has there been such stupendous surplus placed carry its ore from South America and Cuba to Spar at them. In 1912, and again in 1913, the Bethlehem in the hands of a few individuals with no responsibilrows Point, Philadelphia and New York, Steel Corporation appropriated seven and a half mil ity to the public save that of citizenship. The war The Corporation has issued 105, 000, 000 worth of lions for this purpose; in 1914 it appropriated twelve has brought unexampled prosperity to Bethlehem. Its stock besides its bonded indebtedness. The stock is and a half millions; in 1915, twenty five millions; in stock holders have earned fabulous dividends. Its in four classes. Until January, 1918, the per cent. 1916 sixty millions, and in 1917 forty seven millions, properties have been lined with fat that will run preferred stock never paid any dividend. The per five hundred thousand dollars. In other words, in for a decade.
cent. preferred paid dividends until February, 1907. the three war years 1915, 1916, 1917 the corpora The annual reports of the Bethlehem Steel CorpFrom then until April, 1913, no dividends were paid. tion put back into the business out of its earnings oration make no mention of the workers. The manuThe initial dividend on the common stock (30 per 132, 500, 000 or thirty million more than its entire als of industrial securities do not comment upon them cent. was declared January 20th, 1916. 200 per capital stock.
at all. The corporation has laid by its tens of millions.
cent. stock dividend was paid on Class Common The same facts are brought out very clearly in the The workers are for the most part still laboring at Stock, February 17, 1917. In other words Bethlehem tharges for depreciation, repairs and mainte the old subsistent wages.
British Workers Speak to President Wilson John McLean, member of the Independent Labor inside or outside the Conference Hall, shall chal Andrew Halls on December 6, when the following Party of Great Britain, was sentenced to five years lenge your Delegates if my friends are not resolution was unanimously passed by the audience inpenal servitude for his activities in the great muni released.
side the St. Andrew Halls and the overflow Meeting tions strike last year. He served nine months of his After that shall tour America until you do justice outside. These Meetings represented rather more than sentence and was then released owing to the demand to the real American champions of Democracy.
ten thousand workers, and the resolution referred to of the Scottish and English workers. McLean was Yours in deadly carnest, and which was unanimously carried, was moved by appointed some time ago by the Soviet government to John McLean, Mr. Robert Smillie, President of the British Miners be its ambassador in Great Britain.
42 Auldhouse Road, Federation, as follows: Upon his release he addressed the following letter Newlands, Glasgow, Scotland. Resolved that this Meeting in the St. Andrew Halls, to President Wilson. numbering, with the overflow Meeting, ten thousand The following letter was sent to Miss Eleanor Fitzworkers, protest against the life sentence on Tom Woodrow Wilson, gerald, secretary of the New York Council of the In Mooney, and desire to associate ourselves with the President, American Federation of Labour in respect to a comproternational Workers Defense League: mise of Penal Servitude, and further dec are that Tom Sir: Mooney is either Guilty, or he is Innocent, and be it Dear Madam: therefore resolved that the workers of Scotland demand You are here in Europe to negotiate a Democratic Peace as a Democrat. If so, wish you to prove Council to inform you that the undernoted resolution am directed by the Glasgow Trades and Labour the release of Tom Mooney, or we shall judge the American Democracies by the final outcome of the fate of Tom Mooney.
your sincerity by releasing Tom Mooney, Billings, was unanimously passed by the Council on WednesDebs, Haywood, and all others at present in prison as day, December II: You may take it that the Labour movement in Brita consequence of their fight for Working Class Deain is with the Labour movement in America in their mocracy since the United States participated in the The Glasgow Trades and Labour Council joins in pro demand that Mooney and his fellow Trade Unionists War.
testing against the continued imprisonment of Mooney and others, and demands new trials or immedimust not be allowed to rot in prison, and will continue The Working Class Democracy of Britain forced ate release. One hundred thousand Trades Unionists in to agitate and demonstrate until they are released.
this city protest against the unscrupulous methods of the Cabinet to release me from Peterhead Prison.
Yours truly, trumping up evidence, and ask you to convey to Ameriwhere was undergoing five years sentence under ca President our demand for Justice.
WILLIAM TRAW. Defense of the Realm Act) was accordingly instructed to cable to you the therefore write as an ease to my conscience and a foregoing resolution, which hope you have received, rcpayment to the World Working Class Democracy and shall be pleased to have an acknowledgment of The National Security League is sending out thouto release my above mentioned friends and comrades. the resolution from you.
sands of pamphlets written by Dr. Moort to the The Clyde Workers will send me as one of their have to inform you, ale that a large Demonstra Negrous, telling them to work and save. Making the Delegates to the coming Peace Conference, and there, tion in the interests of Labour was held in the St. Negro safe for exploitation.