Business: Profits Pinch

The high cost of doing business, as wages and prices both reached record peaks (see above), was cutting sharply into profits. Last week's outpouring of year-end reports gave some prime examples of the squeeze.

¶In chemicals, Monsanto's profits dropped 8% to $38.6 million, although sales increased almost 4% to $541 million.

Allied Chemical's 1956 sales rose 6% to a record $668 million, but earnings dropped to $47 million from $52 million in 1955.

¶In rails, the nation's No. 1 rail carrier, Pennsylvania Railroad, steamed in with its best...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!