U.S. TRADE DEPRESSION
COMPANY LOSSES. As the record of 1931 company earnings in the United States nears completion the full force of the trade depression is unfolded, wrote the New York correspondent of the Economist recently. As compiled by the National City Bank, business profits of 900 industrial companies dropped 53 per cent from 1930 and 72 per cent from 1929. About 39 per cent of the reporting companies operated at deficits, compared with 22 per cent in the previous year. Net profit earned last year was at the annual rate of 3.3 per cent on net worth, against 7.1 per cent in 1930 and 13.4 per cent in 1929. Only the chain store, the shoemakers and the tobacco companies did better than in the previous year. . Railroad companies suffered a cleclme of 40 per cent in their net incomes, and were able to show a return of only 1 per cent on preferred and common share capital and surplus. The corresponding figure was 3.3 per cent in 1930. Public utility systems lost only about 7 per cent in net income.
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Waipa Post, Volume 44, Issue 3181, 24 May 1932, Page 8
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181U.S. TRADE DEPRESSION Waipa Post, Volume 44, Issue 3181, 24 May 1932, Page 8
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