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...half year in G.E.'s history, a sales gain of 8% to $2.1 billion. International Business Machines' President Thomas J. Watson Jr. announced quarterly earnings of $21.3 million for another alltime peak, and more than the company's total annual revenues 25 years ago. Du Pont, Douglas Aircraft Co., Revlon, Mack Trucks and Schering Corp. were all at new highs, while Kaiser Steel Corp., American Cyanamid Co. and Radio Corp. of America showed solid six-month sales and earnings gains over...
Ever since the U.S. Supreme Court ruled that Du Font's 40-year-old ownership of 23% of General Motors stock violated the 1914 Clayton Act (TIME, June 17), U.S. businessmen have been fretting over just how far the Justice Department will try to push the new decision. Last week they could breathe a little easier. In a carefully prepared speech Robert A. Bicks, a top member of the Justice Department's Antitrust Division, told the American Bar Association that the Government would take a long, hard look before trying to upset other longstanding affiliations. Said Bicks...
...their immense prewar business and prestige than the most optimistic German had hoped for. Sales of the three biggest companies last year topped $1.09 billion, just over Farben's prewar total; and they are rising at the rate of 12% a year (but are still well behind Du Font's $1.89 billion). Even so, the German chemical industry has grown so fast that the trio accounts for but one-third of all West German chemical sales. Yet it holds 7% of the capital invested in West German companies, employs 2% of the country's industrial work force...
Never-Wear Nylon. Du Pont has developed a tougher nylon for heavy-duty work and sports clothes. To be marketed in clothing this fall, the new nylon (Du Pont 420) can be blended with cotton or rayon to make clothes that Du Pont claims will last 70% to 100% longer than standard garments...
...fought harder against .TB than Florida's William T. Edwards, lay chairman of the state tuberculosis board. A businessman and onetime professional lobbyist for the late Albert I. Du Pont, Edwards spent much of the past 30 years lobbying for anti-TB measures. He wheedled some $30 million out of the legislature for four TB hospitals, plus millions more for other attacks on the disease. But last week Crusader Edwards, now 73, was accused by Florida's leading TB specialists of deliberately wrecking the program he had so laboriously set up. Their argument: Edwards cannot grasp just...