As second-quarter earnings statements came out last week, there was ample evidence that profits were still on the increase despite a leveling off in business.
The second-quarter profit of giant American Telephone & Telegraph rose to $152,700,000 from $134,400,000 in 1955. Some other spectacular increases:
¶ International Business Machines tallied record profits of $31,868,620 for the first half, up one-third from last year's $23,870,992.
¶ Eli Lilly's first-half net rose from last year's $6,800,000 to $16.6 million.
¶ Revlon's first-half profits of $3,700,000 were more than for all 1955.
The first steel producer to report was Lukens Steel Co., which more than trebled earnings for the...
