With monotonous similarity, one big company after another last week reported first-quarter earnings: sales up, profits down. The figures were a measure of the deep inroads of higher taxes and costs. Samples:
Electrical. Westinghouse, with an 11.5% gain in sales, found its net profit down from $16.7 million in 1951's first quarter to $15.5 million. General Electric, whose sales fell by $9,000,000, had its net clipped from $35 million to $29 million.
Chemicals. Union Carbide & Carbon's sales rose $6,000,000, but its net fell 20% (to $23 million). Du Pont's sales were up $2,000,000 and the net was "substantially" off. Said...
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