United States Steel Corporation

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United States Steel and Carnegie Pension Fund, Trustee (Described on pages 18-19) STATEMENT of ASSETS Investments, at cost (less than aggregate market or estimated fair value) (details on page 39) . Cash Accrued interest and other receivables Contributions receivable from employing companies in subsequent period Payables Assets Reserves for investments Assets, less reserves STATEMENT of CHANGES DURING the YEAR Dec. 31, 1960 $1,360,593,945 2,620,641 9,116,326 5,562,385 142,677 1,377,750,720 39,314,000 $1,338,436,720 Year 1960 Balance at beginning of year $1,228,792,515 Additions Receipts from employing companies 87,225,584 Receipts from participating employes 6,796,192 Income from investments . . . . . 55,516,186 Gain on disposition of investments . 3,555,929 Deductions Pension payments 1,381,886,406 42,515,844 Refunds to withdrawing employes 933,842 43,449,686 Balance at end of year. . . . . . . . . . . . . . . . . . . . . . . . . $1,338,436,720 38 Dec. 31, 1959 $1,241,887,029 3,642,727 7,954,253 15,558,265 936,769 1,268,106,515 39,314,000 $1,228,792,515 Year 1959 $1,103,018,282 104,356,631 7,188,181 46,925,002 2,039,817 1,263,527,913 33,972,262 763,136 34,735,398 $1,228,792,515
United States Steel and Carnegie Pension Fund, Trustee SUMMARY of INVESTMENTS Securities of United States Steel Corporation and Subsidiaries United States Steel Corporation Serial Debentures $ 24,446,870 Elgin, Joliet and Eastern Railway Company First Mortgage Series A 2,685,425 Pittsburg, Bessemer and Lake Erie Railroad Company First Mortgage Series A. . . . . . . . . . . 2,305,898 At December 31, 1960 Union Railroad Company First and Refunding Mortgage Series A 6,579,000 $ 36,017,193 Other bonds, notes and debentures United States Government 167,524,631 Other 447,456,829 614,981,460 Preferred stocks 1,581,483 Common stocks (including bank and insurance company stocks) 531,586,975 Mortgages Oil, gas and other payments and royalties Properties owned . . . . . . Total investments, at cost To the Board of Directors of United States Steel and Carnegie Pension Fund: We have examined the Statement of Assets, Statement of Changes During the Year and Summary of Investments of the combined pension trusts administered by United States Steel and Carnegie Pension Fund as trustee. Our examination was made in accordance with generally accepted auditing standards and included confirmation of the cash and investments owned at December 31, 1960 by certificates obtained from the depositaries and custodians, or by inspec- 39 18,231,984 41,273,022 116,921,828 $1,360,593,945 tion, and such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. In our opinion, the foregoing statements present fairly the combined assets of these pension trusts at December 31, 1960 and the changes therein during the year. New York 5, N. Y. February 28, 1961.
Page 1: Annual Report 1960 @ United States
Page 4 and 5: Molten steel being poured from an e
Page 6: confidence that the productive capa
Page 9 and 10: With this modeI'll electron microsc
Page 11 and 12: Below, fall scene in Wyoming's rugg
Page 13 and 14: Analog computor, right, in new Elec
Page 16 and 17: 3 2 Lost-T ime Accidents Steel Prod
Page 18 and 19: projected insurance costs in excess
Page 20 and 21: for the 1957 Year Class, under prov
Page 22 and 23: no one of them holds of record as m
Page 24 and 25: This modern continuous quenching an
Page 26 and 27: Statistics adequate to measure accu
Page 31 and 32: Plant & Equipment Expenditures VS.
Page 33 and 34: Consolidated Statement of Income 19
Page 35 and 36: Common stock Under the Stock Option
Page 37 and 38: Plant and equipment (at cost) Detai
Page 42 and 43: American Bridge Division, 525 Willi

United States Steel Corporation

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