fron a financial correspondent
Whon allowance is made for the effects of changes in the way of listing depreciation, U.S. big business has increased its profits by no less than 40% in the last two yoars.. Tho figuros for the last quarter of 1963 were issued Last oe ond these brought tho earnings for tho whole of 1963 to an unprecedented level of $28,000 million or so, compared with $24,645 million in 1962 and only $21,770 million in 1961, a two-year gain of nearly 304. lowever, the figures for 1961 and 1963 are not directly comparable becouse figures since 1962 have boon adjusted” to allow for the effects of the onactment of new depreciation guide lines, 20 of the 21 industrial groups register gains locving only electricalequipmont electronics with a fall. This too is not typical - the fall was mainly accounted for by the bad performance of one firm, Westinghouso. The top profit makers for tho quartor were Gonoral Motors $506m. (17% up)3 Standard Oil of N.J. $242m. (21% up); Texaco $161m. (1963 figure Nede)3 Du Pont $152m. (9% up); Ford $141m. (83% up); Gulf Oil $101m, (1% down); I.B.M. $83m. (approx 20% up); Standard Oil of Calif. $77m. (23% down); and U.S. Steel $53m. (30% up).