United States Steel Corporation

Hailed by the press as
"a stunning work of permanence
... a program of exceptional
beauty and reverence,"
U. S. Steel's Christmas coIO/·cast,
"The Coming oj Christ,"
was produced by Don Hyatt
oj NBC's "Project 20."
made available by United States Steel were received from teachers and
students in American and foreign schools.
1'1
In the light of the recent period of low production, it is not amiss to recall
that we have had other periods of low production and have worked our way
out of them. Nor should we forget that over the sixty-year period of its
existence U. S. Steel's production has averaged about 75 per cent of its capacity
to produce. A glance at the chart on page 5 showing the variation in
shipments of steel products between quarters in 1960 will give some appreciation
of the problems faced by the entire organization in coping with the ups
and downs of industrial activity and the consequences to employment which
have followed the protracted strike of 1959.
No one in U. S. Steel forgets that other materials are competitive with steel
and that many other very competent companies produce and market steel.
There is, moreover, increasing competition among American and foreign
steel producers for the markets at home and abroad. Thus U. S. Steel lives
and must strive in a highly competitive atmosphere.
One of the basic answers to our ability to compete lies in the developing
technology of steel and in originating new and improved steel products. Stockholders
will recognize that a larger proportion of this report than usual has
been devoted to telling the story of research and new products, improved raw
materials and better methods and processes. It may be said fairly that more
and more time and energy of the organization is being devoted to these phases
of our affairs, and the results are beginning to show in more new products and
better methods of manufacturing.
Competitive roads have always been and always will be difficult to travel,
but with U. S. Steel's capable organization and with an increasing flow of
creative and innovating ideas, products and processes, even the most difficult
of these roads should prove readily traversable.
Under the goad of such competition we achieve better service to our customers
and more satisfactions to consumers and thus aid in the economic
growth of our nation. Stockholders will find the statement on "Economic
Growth and Steel" in the financial summary an interesting commentary and
an aid to understanding national growth.
In all of the nation's economic growth steel has a singular part to play. And
all of us in United States Steel - stockholders and employes alike - have
essential roles in the total contribution which our Corporation can and does
make to our nation's well-being.
February 28, 1961
21
Chairman, Board of Directors