The first batch of annual reports for 1950 came out last week. They had a 24-carat glitter:
U.S. STEEL CORP. sold more steel (22.6 million tons) than in any other year, netted a thumping $215 million v. $165 million in 1949. Though sales were 130% above 1917, Big Steel's profits were still slightly below that record World War I year. Reasons: high taxes ($234 million), skyrocketing costs, provision for an 8% expansion program.
INTERNATIONAL HARVESTER Co., which boosted its sales of trucks, power equipment and refrigeration products to make up for a slight dip in sales of farm implements and tractors,...
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