Mostly Good

Riding High. In one day, Chrysler stock, selling at 92 1/2, soared 8 1/4 points. Cause of the enthusiasm was Chrysler's first-quarter earnings, which were the best ever. The net profit was $21,502,408 on sales of $317,041,078. (Profits for 1946: $26,889,290.) On the basis of this showing, Chrysler planned to split its stock two-for-one and raise the quarterly dividend rate from 75-c- to the prewar high of $1.50.

Steel Too. U.S. Steel reported a first quarter profit of $39,234,511, best since 1929 and one of the most profitable quarters in its history.

New Buster. Assistant U.S. Attorney General John Francis Sonnett ended a Justice Department guessing-game last week by taking over as antitrust chief from Wendell Berge, retiring to enter a Washington law firm. His successful prosecution of the John Lewis contempt case made him the Justice Department's brightest star. Handsome, young (34) John Sonnett likes tough, tricky cases. He will have plenty--44 of the U.S.'s biggest corporations are defendants in pending antitrust suits.

No Walkout. The threatened strike against the New York Stock Exchange (TIME, April 28) was averted. Arbitrators will decide the wage dispute between brokers A. M. Kidder & Co. and the A.F.L. United Financial Employees' Union, which had moved to strike the Exchange unless Kidder came to terms. The union also agreed to leave the Exchange out of future fights with members for the duration of the contract.

640% Perfect. The U.S. Chamber of Commerce elected a new President, Earl Owen Shreve, vice president in charge of General Electric's heavy-industry sales. Iowa-born President Shreve's favorite term of complete approval used to be "640% perfect." Recently he deflated this to "106%." But his first official speech (which did not agree with the views of his boss--see The Economy) warned against similar deflationary tactics in business. Concerted price-cutting, he told the Chamber might bring a new depression.

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