Ever bullish, the Wall Street Journal last fortnight set U. S. Steel's minimum earnings at $18 the share. Wall Street opinion predicted they would be between $19 and $20. Great was the surprise therefore when last week Steel reported profits of $197,531,349 or $21.18 the share, compared to $114,173,775 the preceding year or $12.50 the share for 1928. Especially bullish was the fact that the earnings for the fourth quarter had held up well, being $39,972,358 against $30,739,896 in the same three months of the previous year.*...
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