AMERICAN INDUSTRY
Decline In Net Profits SMALL COMPANIES BEAR BRUNT NZPA—Copyright WASHINGTON, Rec. 7.50 p.m. May 13. The net profits of American manufacturing companies declined 22 per cent, last year, according to a joint estimate made by a Federal Commission. It showed that small companies bore the brunt of the decline. Motor car and lorry manufacturers were the only group to show an increase in net profits. Manufacturing companies’ sales in 1949, totalled 154,900,000,000 dollars compared with the record of 165,600,000,000 dollars the previous year. Net income after taxes in 1949 was 9,000,000,000 dollars, compared with 11,500,000,000 dollars. Motor car and lorry manufacturers in 1949 increased their net profits by 28 per cent., but textile industry returns dropped by 58 per cent. Nineteen other major industries reported decreases of 40 to 50 per cent. These included wood products and leather. Dividend payments, in spite of the 22 per cent, decline in net income after taxes, increased fractionally for all manufacturing industries to 4,500,000,000 dollars.
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Otago Daily Times, Issue 27389, 15 May 1950, Page 5
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164AMERICAN INDUSTRY Otago Daily Times, Issue 27389, 15 May 1950, Page 5
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