Corporations: Full Quarter

Never had there been a first quarter like it. In auditoriums and armories across the U.S., shareholders last week heard reports of corporate profits exceeding their fondest dreams. According to early surveys, earnings for the first three months of 1966 rose to an annual rate of above $80 billion before taxes, nearly 10% over last year's record-smashing rate; so far, corporations have paid out about $20.6 billion in dividends. Among last week's shareholder sessions: > A.T.&T. had previously reported a record-breaking earnings pace of $468,684,000 for the three months ending Feb....