EARNINGS: The Sun Still Shines

Corporation profits in the second quarter were hay made while the sun still shone. From the flow of financial reports streaming off the presses last week it was clear that: 1) sales for most companies were still higher than a year ago; 2) profits were up on an average of 9% over the second quarter of 1944.

For many a company, the V-E day cutbacks had come too late to affect quarterly earnings seriously. For others, excess profits taxes had been a cushion against the drop in gross sales. In top brackets, taxes drop as fast as income, thus help...

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