Present Condition Of The Mining And Metallurgical Industries In Germany

The following paragraphs have been extracted from a recent publication of the U. S. Department of Commerce; Miscellaneous Series, No. 65, " German Trade' and the War, " which portrays the industrial, commercial and economic conditions of Germany, at the present time, and has been compiled largely from sources published in Germany. Iron and Steel The Krupp company, the greatest of the German munition works, was faced at the outbreak of the War with the disappearance of its great international business, but this was amply compensated by orders from Germany and her allies, and the activity of the company has been greatly extended. The general meeting of December 1914, voted an increase in the capital to 250,000,000 marks. The gross profits of the company, amounting to 61,900,000 marks in 1912-13, have been more than doubled during the war. The gross profits were 128,260,000 marks in 1914-15 and 143,360,000 in 1915-16. Large sums have been written off; 10,000,000 marks have been placed in the pension fund during the war, and 5,000,000 were appropriated for workmen's dwellings in 1915. Thirteen million marks have been devoted to war assistance in the last three years. The assets of the company were valued at 967,000,000 marks at the end of 1916. For the year 1916-17, the company paid a dividend of only 10 per cent., but set aside 85,425,000 marks for depreciation. The Bismarckhütte in Upper Silesia, capitalized at 16,000,000 marks, with a bonded indebtedness of 7,907,500 marks in 1913-14, reported 3,912,000 marks of net revenue from operation for that year. During the three years of war the revenue increased successively to 8,077,000, 11,805,000, and 16,994,000 marks. While the capital remained unchanged, and the bonded indebtedness was but slightly reduced, the dividends paid during the last four years were increased from 9 per cent. in 1913-14 to 15, 25, and 30 per cent. during the war. During the year 1916-17 the amount written off, chiefly on the works and plant account, was 10,553,000 marks, or nearly as much as the total set aside during the three preceding years. The turnover for that year reached a sum many times the amount of the capital. At the end of 1916 the company's shares were quoted at 275, as against 144 at the end of 1913.