Facts & Figures, May 16, 1949

High Light. The U.S. electric utility industry reported that its first-quarter profits had broken all records. With earnings in from nearly all major companies, net profits were estimated at $202 million, thanks partially to higher rates and lower fuel costs. Previous high mark: $196 million, in the first quarter of 1947.

Down & Up. In a big week, Packard Motor Car Co. cut prices 4½% to 8½% on six models and reported a net income of $3,911,033 for the first quarter of 1949, three times its net for the same quarter last year. The auto price cuts nipped from $26...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

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