DailyTimeCapsule brief
April 29, 1942
On April 29, 1942, U.S. Steel announced a remarkable first-quarter achievement, shipping 5,136,418 net tons of steel, which represented 97% of March's products receiving A-10 ratings or better. The company also declared a $1 dividend, as its income reached $27,921,534, translating to $2.48 per share after taxes accounted for $53,299,620. In a contrasting atmosphere, the famed Aurora of Lights display in New York City was dimmed for the duration of World War II as a symbolic gesture of support for the American military efforts, leading to a low haze that obscured skyscrapers. Meanwhile, United Aircraft reported a significant increase in shipments, with the first quarter's total doubling that of the same period in 1941, also announcing a $1 dividend due June 15. The United States was deeply engaged in World War II, with growing military production being a crucial part of the national effort.
Key developments
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On April 29, 1942, U.S. Steel reported a record shipment of 5,136,418 net tons for the first quarter. An impressive 97% of their March products received A-10 ratings or better. The company announced a $1 dividend, reflecting an income of $27,921,534, translating to $2.48 a share.
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On April 29, 1942, New York City complied with an order from military authorities, resulting in the dimming of its famous lights. The famed aurora of lights was significantly reduced, leading to a low haze enveloping the skyscrapers. This measure was part of tests conducted by army observers to study effects at sea during World War II.
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United Aircraft reports shipments doubling compared to the first quarter of 1941, signaling a significant boost in production amidst World War II. This surge in output reflects the increasing demand for military aircraft and related technology. Additionally, the company announced a $1 dividend to shareholders, payable on June 15, 1942.
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