Mixture with a Minus Flavor

As major U. S. corporations reported their results for 1967's second quarter, the profits pudding turned out to be a mixture with a minus flavor.

Though sales were up in many cases, declines spread across a dozen major industries. B. F. Goodrich, crippled by a strike, had one of the worst reports; higher wages plus promotional fares burdened some of the airlines. Setbacks were common in rubber, steel, chemical, building materials, aluminum, railroads, and even electronics.

Some of the significant decreases in profits as compared with the second quarter of 1966:

Goodrich 92%

Budd 65

Owens-Corning Fiberglas 50

Allis-Chalmers 44

Parke-Davis 41.5

Johns-Manville 41

Lukens Steel 40

TWA 36

Du Pont 34

Phoenix Steel 31

Sperry Rand 31

Monsanto 30

Pullman 27

Eaton Yale & Towne 27

Weyerhaeuser 24.5

American Cyanamid 24

RCA 21

International Paper 16

Westinghouse 14

Kaiser Aluminum 13

Chesapeake & Ohio-Baltimore & Ohio. . . .10

American Airlines 5

Alcoa 4

There was, however, some leavening of good news, and it came in fields as diverse as banking, tobacco, computers, food, drugs, soap and cosmetics. Among the firms that reported gains over the second quarter of last year:

Dow Chemical 1%

Transamerica 2

General Foods 2.5

R. J. Reynolds 3.2

P. Lorillard 6

General Electric 6

Kellogg 7.5

Xerox 8

I.N.C.R 9

Bank of America 10

IBM 13

Textron 13

Bristol-Myers 13.6

Olin Mathieson 14

Canada Dry 15

Colgate-Palmolive 16

Avon 18

Kaiser Steel 35

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