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TABLE D-50. Relation of profits after taxes to stockholders' equity to sales, private manufacturing corporations, by industry group, 7947 50 average 1953-54 average Year 1953 1954 Fourth Ratio of profits after Federal taxes (annual rate) to stockholders' equity- corporations. Food _. Textile-mill Apparel finished textiles _ Lumber wood. Furniture fixtures Paper allied. _. Printing publishing (except newspapers) Chemicals allied Petroleum refining _. 1 1 1 1 1 1 1 1 11 1 10.8 1 9.6 1 1 1 Products of petroleum coal (except petroleum Rubber Leather leather Stone, clay, glass - ( 2 ) 1 1 1 1 1 1 1 Primary iron steel Fabricated metal.... Electrical machinery Transportation equipment (except motor vehicles)._. 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Motor vehicles parts. _. Instruments, photographic optical goods, watches clocks (including ordnance).. 21.7 1 1 1 1 1 1 1 1 See footnotes at end of table.

TABLE D-50. Relation of profits after taxes to stockholders' equity to sales, private manufacturing corporations, by industry group, 7947 50 average 1953-54 Continued average Year 1953 Fourth 1954 corporations.. Food _. Textile-mill Apparel finished textiles Lumber wood. Furniture fixtures Paper allied... Printing publishing (except newspapers) _ Chemicals allied Petroleum refining... Products of petroleum coal (except petroleum Rubber _ Leather leather Stone, clay, glass Primary iron steel Fabricated metal _- _ Electrical machinery Transportation equipment (except motor vehicles) Motor vehicles parts. Instruments, photographic optical goods, watches clocks (including ordnance) Ul.O Profits after Federal taxes in cents per dollar of sales 1.7 9.6 1.6 0 2 1.7 0.6 8.5 1 Petroleum refining of petroleum coal combined. * Not available separately for this period. NOTE. Beginning with the third of 1951, these series are based on a new sample. However, the averages have not been adjusted therefore are not strictly comparable with data for later periods. For explanatory notes concerning compilation of the series, see Quarterly Financial Reports for United States Manufacturing Corporations by Federal Trade Commission Securities Exchange Co mmission. Sources: Federal Trade Commission Securities Exchange Commission.

TABLE D 53. Relation of profits after taxes to stockholders 9 equity to sales, private manufacturing corporations, by industry group, 1947 50 average 1954-55 aver- Year 1954 Fourth Ratio of profits after Federal taxes (annual rate) to stockholders' equity (percent) corporations. 1 1 Food Textile-mill Apparel finished textiles Lumber wood. Furniture fixtures Paper allied - Printing publishing (except newspapers) Chemicals allied Petroleum refining 1 1 1 1 1 1 1 U 1 1 1 1 10.8 1 1 1 1 1 1 1 Products of petroleum coal (except petroleum Rubber Leather leather Stone, clay, glass ( 2 ) 1 1 1 1 1 1 1 1 1 1 1 18.5 1 Primary iron steel Fabricated metal.. Electrical machinery Transportation equipment (except motor vehicles) Motor vehicles parts- _. Instruments, photographic optical goods, watches clocks (including ordnance).. 1 1 1 21.7 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 1 1 1 2 1 1 1 1 See footnotes at end of table. 224

TABLE D-53. Relation of profits after taxes to stockholders' equity to sales, private manufacturing corporations, by industry group, 1947 50 average 1954 55 Con. aver- Year 1954 Fourth Profits after Federal taxes in cents per dollar of sales corporations. Food Textile-mill Apparel finished textiles Lumber wood. Furniture fixtures Paper allied... Printing publishing (except newspapers) Chemicals allied Petroleum refining Products of petroleum coal (except petroleum Rubber Leather leather. Stone, clay, glass Primary iron steel Fabricated metal - Electrical machinery Transportation equipment (except motor vehicles).. Motor vehicles parts. _. Instruments, photographic optical goods, watches clocks (including ordnance). ill.o ( 2 ) 1.7 0.6 8.5 1 1.3 1.6 1 Petroleum refining of petroleum coal combined. 2 Not available separately for this period. NOTE. Beginning with the third of 1951, these series are based on a new sample. However, the averages have not been adjusted therefore are not strictly comparable with data for later periods. For explanatory notes concerning compilation of the series, see Quarterly Financial Reports for United States Manufacturing Corporations by Federal Trade Commission Securities Exchange Commission. Sources: Federal Trade Commission Securities Exchange Commission. 225

1957 TABLE E-52. Relation of profits after taxes to stockholders' equity to sales, private manufacturing corporations, by industry group, 1947 50 average 56 Fourth 1 * Ratio of profits after Federal taxes (annual rate) to stockholders' equity (percent) corporations. Lumber wood (except furniture) Furniture fixtures Stone, clay, glass Primary iron steel 1 1 1 1 1 1 1 1 1 1 18.5 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Fabricated metal. _. Electrical machinery, equipment, supplies Motor vehicles equipment Other transportation equipment 1 1 1 21.7 2 1 1 2 1 1 1 1 21.7 1 1 1 1 1 1 1 1 1 1 1 1 (including ordnance) _. Instruments related Food kindred. Textile mill 1 1 1 1 1 1 1 1 1 1 Apparel related Paper allied... Printing publishing (except newspapers) _ Chemicals allied Petroleum refining Products of petroleum coal (except petroleum Rubber Leather leather 1 1 1 2 1 ( 3 ) 1 10.8 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 See footnotes at end of table. 180

1957 TABLE E-52. Relation of profits after taxes to stockholders* equity to sales, private manufacturing corporations, by industry group, average -56 Continued average Fourth ^ 1 Profits after Federal taxes in cents per dollar of sales corporations. Lumber wood (except furniture) Furniture fixtures Stone, clay, glass Primary iron steel 7 9 /. & a a 0. D 7 ^ /. o a Q D.» Fabricated metal Electrical machinery, equipment, supplies Motor vehicles equipment Other transportation equipment Instruments related (including ordnance).. Food kindred. Textile mill Apparel related Paper allied.. Printing publishing (except newspapers) Chemicals allied Petroleum refining Products of petroleum coal (except petroleum Rubber Leather leather 2 ( 3 ) 1.3 1.6 1.5 1 1.5 1 1 New sample; see note below. 2 Petroleum refining of petroleum coal combined. s Not available separately for this period. NOTE. The sample for these series was changed beginning with the third of 1951 again beginning with the second of. However, the averages have not been adjusted to either of these samples, therefore, are not strictly comparable with data for later periods. For comparative purposes, the second of is shown on the basis of the two later samples. For explanatory notes concerning compilation of the series, see Quarterly Financial Reports for U. S. Manufacturing Corporations by Federal Trade Commission Securities Exchange Commission. Sources: Federal Trade Commission Securities Exchange Commission. 181

1958 TABLE F-58. Relation of profits after taxes to stockholders' 1 equity to sales, private manufacturing corporations, by industry group, average 7956-57 aver- i, Fourth 1957 i Ratio of profits after Federal taxes (annual rate) to stockholders' equity (percent) corporations Lumber wood (except furniture) Furniture fixtures Stone, clay, glass Primary iron steel Fabricated metal Electrical machinery, equipment, supplies Motor vehicles equipment Other transportation equipment 1 1 1 1 1 1 1 21.7 1 1 1 1 1 1 1 18,0 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Instruments related. _. (including ordnance) Food kindred Textile mill 1. 1 1 1 1 1 1 1 1 Apparel related Paper allied Printing publishing (except newspapers) Chemicals allied Petroleum refining 1 1 1 11 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Products of petroleum coal (except petroleum Rubber Leather leather ( 2 ) 1 9.6 1 1 1 10.8 See footnotes at end of table. 181

1958 TABLE F-58. Relation of profits after taxes to stockholders* equity to sales, private manufacturing corporations^ by industry group, 7947-50 average -57 Continued average Fourth 1957 Profits after Federal taxes in cents per dollar of sales corporations _.. Lumber wood (except furniture) - Furniture fixtures Stone, clay, glass Primary iron steel Fabricated metal Electrical machinery, equipment, supplies _ Motor vehicles equipment Other transportation equipment Instruments related... (including ordnance) Food kindred _. Textile mill Apparel related. _ Paper allied Printing publishing (except newspapers) Chemicals allied Petroleum refining. 1 8.5 1 Products of petroleum coal (except petroleum. Rubber Leather leather ( 2 ) 1 Petroleum refining of petroleum coal combined. 2 Not available separately for this period. NOTE. The sample for these series was changed beginning with the third of 1951 again beginning with. However, the averages have not been adjusted to either of these samples, therefore, are not strictly comparable with data for later periods. For explanatory notes concerning compilation of the series, see Quarterly Financial Reports for U. S. Manufacturing Corporations by Federal Trade Commission Securities Exchange Commission. Sources: Federal Trade Commission Securities Exchange Commission. 182

1959 TABLE D-58. Relation of profits after taxes to stockholders' equity to sales, private manufacturing corporations, by industry group, -58 Durable goods Period All private manufacturing corporations Lumber wood (except furniture) Furniture fixtures Stone, clay, glass Primary iron steel Primary non- fer- rous metal Fabricated metal Machinery (except electrical) Electrical machinery, equipment, supplies Motor vehicles equipment Other transportation equipment Instru- ments related Miscellaneous manufacturing (including ordnance) Ratio of profits after Federal taxes (annual rate) to stockholders' equity percent :...-- Fourth.. 1957:..... Fourth _. 1958: _-.._ 1.2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 13 9 12^9 8.5 1 1 1 1 1 1 1.6 Profits after taxes per dollar of sales cents 1 1 1 1 1 1 1 1 1 1 1 1 1 :... _. Fourth.. 1957:..... Fourth.. 1958:......1 1.6. 7.(> See footnotes at end of table, p. 206. 205

1959 TABLE D-58. Relation of profits after taxes to stockholders' equity to sales, private manufacturing corporations, by industry group, 58 Continued Nondurable goods Period Food kindred Tobacco manufactures Textile mill Apparel related Paper allied Printing publishing (except newspapers) Chemicals allied Petroleum refining Products of petroleum coal (except petroleum Rubber Leather leather Ratio of profits after Federal taxes (annual rate) to stockholders' equity percent : Fourth 8 2 10 0 12 7 1 1 1 1 1 13. 1 1 1 1 1 1 1 1 1 9 6 6 3 1957: Fourth 1 1 1 1 1 1 1 1 1 1 1 10.8 1958: 1 1 1.9 1.3 -.8 Profits after taxes per dollar of sales cents : Fourth 1957: Fourth 1958: 1.5.4 1.3.6.7.3 1.7 3-. 8 8.5 1 -.5 1.3 NOTE. Data on a comparable basis are not available for earlier periods. For explanatory notes concerning compilation of the series, see Quarterly Financial Reports for U. S. Manufacturing Corporations by Federal Trade Commission Securities Exchange Commission. Sources: Federal Trade Commission Securities Exchange Commission. 206