EARNINGS: The Way Down?

EARNINGS The Way Down? As the flood of year-end earnings reports tumbled from the ticker last week, the evidence piled up that U.S. industry had passed the war's profit peak.

Profits are still lush, but the percentage of profit to the astronomical volume of goods turned out is sometimes astoundingly low. The New York Sun totted up the profits of 53 companies in 1944, found that they were down 1.3% from the year before. More & more it looked as if 1943, and not the top production year of 1944, had been the high-water...

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