Business: Best Year of Their Lives

Stockholders in U.S. corporations have never had it so good. The Commerce Department reported last week that cash dividends in 1955 totaled a record $10.4 billion v. $9.2 billion paid them in 1954, the previous peak year. And as a flood of record earnings came out last week, the prospects looked good for continued fat dividends. Among the leaders:

¶General Motors announced a net profit of $1,189,000,000—the first year a corporation has topped $1 billion (previous peak: $834 million in 1950). G.M.'s profits outraced sales; on sales 27% higher than in 1954, G.M. netted 48% more profit.

¶Standard Oil (New Jersey), top U.S. oil producer, reported a profit of $717,000,000, second only to G.M.

¶ U.S. Steel scrapped the earning record established in 1916 ($271,500,000), set a new one of $370,197,625, almost double its '54 net. The current 1956 quarter, said President Roger M. Blough, could be the best ever in the company's history. CJ Kennecott Copper overcame a six-week-long strike to pile up a record $125,615,418, compared with $79,906,288 the year before.