The economists and businessmen who gathered this week at the University of Michigan's annual economic-outlook conference took a rosy look into 1959. After making a study of no big U.S. corporations, speakers predicted that 1959 corporate earnings will run 25% above 1958.
Said Research Director Edmund Mennis of Philadelphia's Wellington Fund: "The industries hardest hit by the 1958 recession (autos, textiles, steels, chemicals, metals, machinery and rubber) are expected to have the sharpest recovery."
Last week 1958 third-quarter corporate earnings reports continued encouraging. Though General Motors reported earnings of 22¢ a share, v. 43¢ in the third quarter last year, the only...
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