Business: Record Earnings
To the long list of companies with record earnings last year there were some notable additions last week:
¶ American Machine & Foundry Co.'s fourth-quarter earnings of 83¢, v. last year's 66¢, brought 1959's total to $2.50 per share from $1.66.
¶ General Electric reduced costs, was able to show a 15% profit increase on a 6% boost in sales. Earnings were $3.19, up from 1958's $2.78, with a 12% gain in the fourth quarter.
¶ Bell System rang up profits of $5.22, a 55¢ increase over 1958.
¶ R. J. Reynolds Tobacco Co.'s earnings climbed to $4.45 from $3.80, with fourth-quarter profits of $1.15, v. 1958's $1.02.
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