EARNINGS: Good Cheer & Bad

The first big batch of annual reports for 1952 came out last week. Most made good reading for stockholders. But there were some companies, caught by high costs and taxes, which sold more goods only to make less money. And a comparative few were deep in the red. A synopsis:

Automobiles. General Motors, nudged out by Standard Oil of New Jersey in 1951 as the biggest corporate moneymaker, was back in first place. Rolling up the largest sales ever reported by any company ($7.6 billion), G.M.'s net earnings were up 10% to $559 million, third highest in G.M.'s history. Studebaker, the...

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