Profits of U. S. corporations continued last week to reflect Recovery, thus encouraging the Stock Market to reach a new 1936 high. The 1935 earnings of 21 giant utility systems, representing more than 80% of the light & power industry, were estimated at about 10% above 1934 returns. The Interstate Commerce Commission reported that Class I railroads had a 1935 net operating income of $500,000,000 against $465,000,000 in 1934. Industrials were far ahead of 1934 but not nearly so far ahead as was indicated by early results. The Chicago Journal of Commerce...
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