Wonderful, but Worried

How is business? By that most popular of indicators—corporate profits—the answer last week was "Wonderful!" As third-quarter earnings came in, they made boom reading. But businessmen and economists who look beyond their profit records alone threw no hats in the air.

Most industries tended to maintain, if not raise, the dollar volume that had pushed first-half earnings to a peak. And most of the earnings were above last year's record heights. But some drops were shown by companies in such fields as food, textiles, retailing and electrical products. They were the first to feel a shift towards a buyers' market and...

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