EARNINGS: Good First Quarter

The flood of first-quarter earnings reported by U.S. industry last week still had a golden look. The National City Bank of New York totted up the profits of 295 industrial corporations, found that they were 6% above last year's first quarter. But the important fact was that, with sales reported by 71 of the manufacturing corporations up a whacking 23% in the last year, profits had risen so little—with renegotiation still in the offing for some companies. Taxes and bigger operating costs were finally outpacing the swelling production of many a corporation. They are still making plenty of money, but...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!