Riding High. In one day, Chrysler stock, selling at 92½, soared 8¼ points. Cause of the enthusiasm was Chrysler's first-quarter earnings, which were the best ever. The net profit was $21,502,408 on sales of $317,041,078. (Profits for 1946: $26,889,290.) On the basis of this showing, Chrysler planned to split its stock two-for-one and raise the quarterly dividend rate from 75¢ to the prewar high of $1.50.
Steel Too. U.S. Steel reported a first quarter profit of $39,234,511, best since 1929 and one of the most profitable quarters in its history.
New Buster. Assistant U.S. Attorney General John Francis Sonnett ended...
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