EARNINGS: Through the Roof

If anybody doubted the productive strength of the U.S. economy, the half-year profit figures that poured in last week should have settled the matter. Of 148 companies reporting so far, 98 had beaten their 1949 first-half earnings. For many a company, 1950'$ first-half profits were the biggest in history.

General Electric Co. turned in an all-time record with a six-month net of $77.4 million, 65% above the 1949 period. This reflected the recovery in appliance sales, bigger demand for heavy equipment, and the television boom. That boom also enabled Admiral Corp. to report six-month earnings of $8,400,000, more than double...

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