Show THE TREND OF PROFITS IN 1928 I 1 the following discussion and data concertin concerning the profits of general business corporations in this country for the first nine months of this year is sent to the mining review by the national bank of commerce in new york owing to large gains made in the second and third quarters the bank reports profits are considerably larger than in the first nine months of last year for the first six months of this year a summary of the earnings statements of companies showed a gain of 8 over the corresponding correspond i n period of 1927 the statements of corporations reporting thus far for the nine months disclose a gain of 21 per cent over the corresponding nine months of 1927 of these companies have reported larger incomes than for the first nine months of last year while 61 have reported smaller earnings large gains were made in the copper motor motor equipment petroleum and retail chain store groups while moderate gains were made in the chemical iron and steel and machinery and machine tool groups although the number of returns in the agricultural machinery electrical manufacturing leather paper rayon silk and wear in ing apparel groups is small zable sizable si gains are also indicated for the companies reporting in these industries in the a aggregate 66 re t ate of profits of all groups reporting a remarkable 6 gain tain was made in the third quarter the reports of companies now available indicate a gain of 38 per cent in profits over the third quarter of 1927 the following tables summarize the changes 6 in the third quarter and the nine months profits of those industries dus tries where representation is large enough to be of significance in the first table are those groups whose earnings were larger in the first nine months n of this year than in the same period of 1927 the second table gives the third quarter comparisons for the same groups change 1928 1929 over 1927 group no of co s first 9 months copper 8 68 motor equipment 18 52 petroleum 27 45 retail chain stores 6 25 motor 11 24 chemical 8 11 machinery and machine tools 10 11 iron and steel 18 8 food and allied products 23 5 building materials 8 I 1 change 1928 over 1927 group no of co s third quarter copper 8 motor equipment 15 petroleum 27 retail chain store 6 21 motor 11 25 chemical 8 12 machinery and machine tools 9 70 iron and steel 18 51 food and allied products 23 7 building materials 8 15 the following groups show decreases in earnings for the first nine months compared with the same period of last year the changes in the third quarter are also given change change group no of 28 over 27 3rd ard quarter co s 1st ast 9 months LZ aa az tobacco cigar manufacturers 5 1 10 railway equipment 5 35 18 bituminous coal 4 39 2 |