Corry Evening Journal in Corry, Pennsylvania

U S Steel profits soar but price hikes loom

U S Steel reports an 80 percent rise in first quarter profits to 89.5 million dollars on 1.96 billion in sales, with Edgar B. Speer noting rising costs require price increases and new capacity. Shipments rose 11 percent to 6.8 million tons as productivity gains helped earnings despite inflationary pressure and impending expansion. A 50 cent dividend was declared for June. A birth announced in Spar­tansburg.