Times Earnings. Forgotten is the market phrase of last year: "A good stock sells for 15 times its earnings-per-share.!' Last week the New York Evening Post endeavored to find out how much the decline in stocks has reduced the earnings-price ratio. Current prices of 405 industrial stocks average 11.8 times estimated 1930 earnings. Forty-three public utility issues average 17.2 times estimated 1930 earnings. Railroad stock prices, however, have not shrunk in proportion to the net. In this group, 37 stocks average 14.1 times net against 12.9 times a year ago. Notable exceptions still...
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