Earnings: Better

Some dollar signs of recovery appeared last week in still another anxiously regarded sector of the U.S. economy: corporate profits. A few hard-goods industries still showed losses; aluminum earnings reflected the profit-cutting effects of a 2-c--per-lb. price cut in April. Except for small-car-champion American Motors, Detroit's automakers bumped steadily on through their worst year in a decade. Railroads continued to lose. But many another industry reported itself over the worst of the recession, with improving sales and earnings. Steel earnings climbed along with the operating rate at the mills. Most chemicals also rose, demonstrating the effectiveness of cost-control programs.

QUARTERLY EARNINGS 1st 2nd (in millions)

AUTOS

American Motors $ 2.4 $ 7.3

Chrysler 15.1 (loss) 10.1 (loss)

Ford 22.7 17.3 (loss)

METALS

Alcoa 11.4 8.0

Reynolds 9.9 9.3

OILS

Gulf 60.7 55.0

Shell 26.5 19.2

Texaco 70.0 68.5

RAILS

Pennsylvania 14.9 (loss) 10.5 (loss)

New Haven 3.6 (loss) 1.4 (loss)

New York Central 17.6 (loss) 8.0 (loss)

Southern 7.0 7.3

STEELS

Crucible .17 .22

Inland 8.0 12.1

Republic 8.6 15.3

CHEMICALS

Du Pont 71.2 71.8

Union Carbide 22.8 27.1

American Cynamid 12.4 6.8

Diamond Alkali .9 1.5

MISCELLANEOUS

Armstrong Cork 2.7 3.3

Caterillar Tractor 3.4 11.1

Chance Vought Aircraft 2.3 2.4

Pittsburgh Plate Glass 5.1 7.7

Sylvania Electric 1.2 1.4

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