Through the Roof

If anybody doubted the productive strength of the U.S. economy, the half-year profit figures that poured in last week should have settled the matter. Of 148 companies reporting so far, 98 had beaten their 1949 first-half earnings. For many a company, 1950'$ first-half profits were the biggest in history.

General Electric Co. turned in an all-time record with a six-month net of $77.4 million, 65% above the 1949 period. This reflected the recovery in appliance sales, bigger demand for heavy equipment, and the television boom. That boom also enabled Admiral Corp. to report six-month earnings of $8,400,000, more than double the $3,100,000 earned in the 1949 period.

Unprecedented U.S. building activity helped Johns-Manville Corp. nail up a net of $10.1 million, a 75% gain. Libbey-Owens-Ford Glass Co., which benefited from both the building and auto booms, boosted its $9,100,000 net to $15 million.

In chemicals, oils, rubber, steel, the story was the same. Wilmington's huge Du Pont turned in record sales of $580 million, boosted its net more than a third to an estimated $116 million, including $28 million in dividends from its General Motors .stock. Monsanto Chemical's net rose 64% to $13.1 million. Atlantic Refining Co.'s net shot up from $12.5 million to $17.6 million, General Tire & Rubber's rose an eye-popping 251% to $1,600,000, and Republic Steel, which turned in $25.4 million in the 1949 period, reported a rise to $37.7 million.

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