Corporate profits in the first quarter of 1959 rose to $47 billion, an alltime peak. So Government statisticians estimated last week, as glowing first-quarter earnings continued to come out.
With furnaces pouring steel at record tonnages, the steel industry reported profits high, and still on the rise. Jones & Laughlin reported first-quarter earnings of $1.97 a share (v. 17ยข last year) on record sales of $236.4 million, predicted the second quarter will be even better. Armco Steel announced first-quarter earnings of $1.43 a share, more than 100% over a year ago. Equally soaring reports came from Inland Steel ("new first-quarter records"), Kaiser...
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