The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1953-07-31
D. sAM DAWSON

NEW YORK R-Bnsiness prof
ils--as judged by s7s Of the first
corporations to report on net I'M
come after taxes--are running IT
per cent ahead Of the first six
months Of last year.
Nearly three our Of every four.
corporations show . brighter prof
Iit picture in the first half Of 1858.
Only % Of the firms this year are
trailing . year ago. Five report a
net loss. Last year eight did.
Reasons for the earnings squirt
this year differ among the indus
tries. Many owe their gains to
larger sales. rejecting the gem
IeraI booming business conditions.
But . few report slightly lower
sales this year and still have high
er profits due In some cases to
successful pairing Of operating
costs.
The steel industry--running 4
IWhoppng 81 per cent ahead Of
year ago loves much Of the bright
comparison 70 capacity production
this year e. against strikes crippled
output last summer.
OIL. companies who were struck
for 3 time year ego show better
profits this year. Some oil COM
lpanies who had no strikes are run.
ming behind.
Aircraft makers show the great
est gains profits more than dou-
bic this year due 10 the defense
spending program. Airlines are up
80 Ger cent.
Other big gamers are railroads,
appliance makers and suppliers of
the auto industry. The motor in.
dustry itself Il II per cent further
into the black. Utilities are run.
ming about Is per cent ahead.
Some industries fall behind in
the profits parade. Coal companies
were hurt the worst, trailing by
10 per cent. The drug industry as
q whole is off 10 per cent (due in
the main to big drop by one
large company: LIQUOR and beer
. per cent and farm equipment
per cent.
The textile Industry shows Z nice
comeback from last years ''pri-
Ivate depression" with a gain of
|2s per cent In profits. But its sis
ter. the carpet Industry, had tough.
Ier going with one big company
operating In the red both years.
Combined profits IL ne $40 cor.
porations comes 10 y, e6S 81, 421 in
the first six months Of 1858. The
previous year the same compa.
mics had combined net income aft
ler taxes Of $2.is5. 0eS, 2OS.
The list includes both big and
small companies ard is spread
through 30 major industry groups.
But the list. Of course, is only a
Sampling oil the thousands Of com.
.panies yet To report.
Taxes continue Il hold profits
down. taking more than half Of
gross earnings Of all corporations
and biting much higher when the
company falls into the excess prof.
It's bracket.
Most Of the companies who are
ahead % far this year seem con.
|hdent that when figures for al
|of 1883 are Tailed, their profit
sheets win top last years by 4
fair margin.
NEW YORK H. Steel mills will
continue for about three months
more to operate st the present
break-neck rate. But after that the
industry should return 70 more
normal conditions.
By "normals steeimasters mean
= slight slackenins in demand, nov
looked for before the end Of the
Iyear, would permit them 10 close
down ancient furnaces With over
high operating scSts ard 70 cool CT
other furnaces icr tke usual p.
Rods Of msintensnce and repair
which have been passed over dur
Ing the Years Of extra high de.
'mAnd for steel.