BETHLEHEM STEEL CORPORATION was organized in New Jersey on Dec. 1o, 1904, to acquire the stock of Bethle hem Steel Company (Pa.) and of several other companies own ing shipbuilding plants. Its only steel plant (at Bethlehem, Pa.) then had an annual ingot capacity of 190,00o tons and manufac tured principally armour plate and other ordnance. By large cash expenditures for construction and by purchases of properties of other companies, including the Pennsylvania Steel Company, Maryland Steel Company, American Iron and Steel Manufac turing Company, Lackawanna Steel Company, Midvale Steel and Ordnance Company, Cambria Steel Company and Pacific Coast Steel Company, the steel making capacity has been increased to tons, representing 13.4% of the present capacity of the United States. It is now the second largest steel company in the world and produces all of the principal commercial steel products, having steel, manufacturing and fabricating plants located in Pennsylvania, Maryland, New York, Delaware, New Jersey, Illi nois, California and Washington. It also manufactures many spe cial types of machinery, builds railroad cars (both passenger and freight) and has extensive shipbuilding and ship repair facilities on both the Atlantic and Pacific coasts of the United States. The corporation is virtually self-contained, owning large reserves of all of its important raw materials. Its capital upon its organiza tion was $30,000,000 of stock and $11,750,000 of bonds. Its cap ital, Dec. 31, 1934, consists of $93,388,700 of preferred stock, of common stock, $110,496,124 of funded debt and of surplus. (E. G. GR.)