Amid widespread talk about a slower pace in the U.S. economy, corporate profits at the halfway mark of 1968 were remarkably handsome. According to a Wall Street Journal survey of 457 major corporations, second-quarter profits were up 10% from the same period of 1967. Largest gainer was the rubber industry, with earnings of nine companies bouncing to 131%.
Autos were up 10%, department stores 21%, office equipment 39%, and paper 17%. On the down side were air lines, off 18%, farm machinery 15%, and railway equipment 26%.
Among the more significant of last week's reports:
> The B. F. Goodrich Co.,...