On the Upbeat

With the fast recovery of the economy, profits of many a corporation were snapping back faster than anybody had hoped. The upsurge was charted last week in the first batch of year-end reports:

P: Budd Co. (automobile brake drums, wheels, etc.) will move out of the red and show a 1958 profit because of a "greatly improved fourth quarter."

P: Maytag will show earnings for 1958 at least 25% higher than the $6,633,292 (or $3.78 a share) it netted in 1957.

P: RCA's Chairman David Sarnoff reported estimated fourth-quarter profits of 74-c- a share v. 68-c- last year.

P: Emerson Radio & Phonograph let its stockholders know that profits for 1958 should be ten times greater than the puny $138,431 it netted in 1957.

P: The hard-hit railroads were steaming back fast. Chesapeake & Ohio earned $51.7 million or $6.36 a share in 1958--the fourth best net in its 122-year history. Atchison, Topeka & Santa Fe earned $5,139,849 in November compared to $3,659,613 a year earlier, and New York Central made $2,633,054 in November against a loss of $1,894,625 a year earlier.

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