Show Business Profits at Flood Tide As New Peace Time Records Are Set by Many Industries I 1 BUSINESS PROFITS Ii COMPA ED WITH 1925 MOTORS J C ACCESS BasTON TE TELEPHONE EPHONE STEEL MILLIONS OF j ff iii OIL 80 SO 4 PRODUCTS i t- t 40 2 25 2 25 26 25 26 25 26 2 25 26 2 25 26 25 26 Corpora Corporation tion E Earnings Show Increase Over 1925 Up to 35 Per Cent but Few Industries Indus Indus- tries R Register gist r No Improvement The most profitable year American business has ever experIenced was that just ended Aggregate Aggregate profits according according accord accord- ing to all preliminary IndIcations were larger than in any other former former for for- mer year with the exception of abnormal ab- ab normal nornal war periods These excellent excellent excel excel- lent profits were shared In by practically practically all 1111 lines of basic enterprIse excepting the automobile automobile automobile automo- automo bile accessory ti o c. c building material mate mate- rial office equIpment and textile industries Preliminary statistics on 1926 business profits for the first nine months Which are probably fairly representative of the year as a whole are available from two sources the Standard Statistics corporation and the federal reserve bank of New York INCREASES UP TO 35 PER CENT According to the former authority author author- ity while the Industries referred to above reported lower earnings last year than was the case In 1925 such other Important Industries as chemical chem chem- ical cool coal food product machine equipment mining and smelting oil chain store railroad equipment iron and steel and miscellaneous groups earned profits ranging all the tho way I from 15 to 35 per cent better than In Inthe inthe the year before During the first nine months of 1926 it is estimated that Industrial corporations reported reported re- re ported a total income almost 25 per cent larger than the Income of the corresponding 1925 period In this connection it Is interesting to note the tremendous influence upon business activity of two giant the concerns United States States' Steel and the General Motors corpora corpora- The aggregate nine month profits of corporations excludIng excluding Ing these two showed a 15 per cent Increase In in- 1926 over the tho p year Indeed whereas the not net income In in- come of fifteen motor companies Including General Motors showed a total gain of per cent during the first three quarters of 1926 the thenet thenet net income of fourteen motor motor concerns concerns con con- cerns excluding General Motors J showed a loss of per cent from the first nine months of 1925 COAL STEEL TOBACCO LEAD Aggregate changes in business profits during the first nine months of last year as compared with the same perIod of 1925 are given for various industrial groups b by the Standard Statistics corporation as follows Motor accessory 13 companies loss of 39 per cent building material mate mate- rial 5 companies loss of 17 per percent percent cent candy 5 companies gain ot of I 43 per cent chair stores 3 corn com panics gain of per cent chemicals chem chem- 7 companies gain of per percent percent cent coal 3 companies gain of per cent electrical equipment 2 companies gain of 33 per cent light and power 7 companies gain of per cent food 11 companies gain of per cent machinery 5 companies gain of per cent mining 15 companies gain of per cent office equipment 6 corn com panics loss of 5 per cent petroleum petroleum petro- petro leum 22 companies gain of per percent percent cent railroad equipment 3 companies corn com panics gain of 34 per cent steel and iron 14 companies gain of per cent telephone and telegraph 5 companies gain of 11 per cent textile 3 companies loss of per percent percent cent tobacco 5 companies gain of 34 per cent traction 5 companies gain Of f 20 per cent miscellaneous 22 companies gain of per cent Biggest gains over 1925 It will be I noted were registered by the tho coal steel and iron other than United I States Steel tobacco and railroad equipment groups I RESERVE BANK TABULATION A similar improvement in business business busi- busi ness profits is revealed In a compilation corn com for nine nino months as made by the New York federal reserve bank for ninety nine Industrial corporations cor- cor seventy one telephone companies and class 1 railroads The following table shows nine nine- month profits for several years In millions of dollars 1923 1924 1925 1926 is 18 motor and ac accessory accessory ac- ac 82 14 oils oUs 52 52 65 86 12 steel 93 13 food and products 38 40 43 57 10 machine 12 11 1116 16 16 10 metal and mining 22 16 23 30 22 miscellaneous 30 27 38 46 99 IndustrIal 71 telephone Class Cass I raIlroads I lOne One of the outstanding achievements achievements achieve achieve- ments of the tho past pas year was as the manner in which railroads improved d their Income as shown In the above table S |