United States Steel Corporation

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.