The potters herald. [volume] (East Liverpool, Ohio) 1899-1982, 1951-01-11
Government Report Shows US Industry
Making More Money Than Ever Before

Making More None
Washington (LPA)-Labor has
been saying it for long time, and
now along comes the Federal Trade
Commission to back it up. The fact
is that US industry never had 1t
so good. It's been raking in more
dough, at a faster rate, than ever
before.
The ETC has issued its "Finan-
cial Report for US Manufacturing
Corporations, Sd Quarter 1850"
The report shows that: Sales jump
ed II percent over the second quar-
ter; profits after taxes jumped 10
percent over the second quarter
though higher tax rates became
effective in the third quarter.
OF the % different manufacture
ing industries classified in the re-
port, all but three showed higher
profits after taxes in the third
quarter, with IL industries showing
profits more than 20 percent high
er than in the second quarter.
But those are averages. When
you get to the breakdown by indus
tries, you're in a fantastic world.
In apparel and finished textiles,
for example, the take in the third
quarter (after taxes) was 221 per-
cent higher than in the second
quarter. In leather, profits in the
third quarter were 100 percent
higher; in rubber, 70 percent; in
printing and publishing, 81 percent; f;
in textile mill products, AZ percent;
in food, 35 percent; in lumber and
wood, 33 percent; in fabricated
metal, 20 percent; in electrical ma
chinery, 25 percent; in chemicals,
q percent; in instruments, 10 per-
cent; in paper and allied products,
l8 percent; in tobacco, is percent;
in stone, clay and glass, Is per-
cent.
Sales in the third quarter were
$48.6 billion, a jump of $5.1 billion
over the second quarter Of 1850,
and a jump Of $9.S billion over the
third quarter Of 1919.
Profits in the third quarter
(after taxes) were $3.7 billion, al
jump of $0.5 billion over the sec
ond quarter, and $1.4 billion over
the third quarter of 1919.
The rate Of profit also zoomed
1t was 176 percent in the third
quarter, an increase Of 2 percent
over the second quarter, and SCI
percent over the third quarter of
1949.
The stockholders did okay too.
Dividends in the third quarter werel
$1.3 billion, against $l.l billion inl
the second quarter and 500 billion
in the third quarter of 1919.
Total assets also leaped. Theyl
were $120.5 billion at the end ofl
September, a jump of $5.5 billion
over June. And the corporations
had $40 billion more in cash and
US government securities than
they had in June.
There was one reversal of the
pattern of recent years. Profits
after taxes of smaller-siZed com
panics increased more than thcl
larger companies. On an annual
basis, companies with assets under
S250,000 earned 1872 percent; those
IN the $250,000 to 81 ,C00,000 brac-
xet earned 1873 percent; the $l-$5 |
million group earned 1914 percent
S5-$100 million earned l72 per-
,ent, and those over 500 million
,aned TIC percent.
Although final profits figures
'or 1850 have not yet been tabu-
ated, informed estimates are that
hey will reach $23.5 billion. The
previous all-time peak was $20.9ll
billion in l94S. The 1949 figureI
vas $17024 billion. Stockholders
also had their best year in the his
,ory of the nation. Estimated div
dends for 1850 are So billion. The
previous high mark was $6.453 bill
on in l949. (Only 7 per cent of the
lation's families own any stock.) |
Industrial stocks rose to new
highs for more than 20 years in
on the NY Stock Exchange
Ian. 2. War stocks led the list.)