In 1934, some 1,300 U. S. industrial corporations made about $1,100,000,000. In 1935, reports from 237 corporations showed, according to Standard Statistics, Inc., a gain of 48% over 1934. But a $22,000,000 improvement in U. S. Steel and a $72,000,000 improvement in General Motors weighted this average heavily on the side of Recovery. The other 235 corporations showed an increase of about 28%. With good, bad and indifferent reports still to be filed, Standard Statistics took a long breath and figured that when all the returns were in the final result would be some 40% ahead of 1934 earnings. On this...
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