U.S. corporate profits, which reached a record high in 1946, went considerably higher in the first half of this year. So reported the Department of Commerce this week, after adding up a cross section of the returns. Profits after taxes in the first three months of 1947 were at an annual rate of $17,500,000,000—some 10% more than in last year's booming fourth quarter. The rate declined in the second quarter, tut only to $16,500,000,000, still higher than any other year's peak.
The Department of Commerce pointed out that the figures included inventory profits (i.e., values added to stored goods because...
To continue reading:
or
Log-In
