Business: Grin Wiped Off

Few crops are harvested more than once a year, but one crop is harvested four times a year regularly: Industry's reports of earnings. Last week John Stockholder looked upon the mounting tale of corporate earnings for the third quarter and found them in most cases as good as he had hoped, in some cases better. In the new crop of reports, only utilities were disappointing. On them the tables had been turned: their fixed rates which had held up earnings well into Depression, had reacted against them under the mounting taxes and...

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