Fearing big cutbacks when the Korean fighting ended last July, businessmen thought that the third quarter would be an important test of the U.S. boom. Last week, as more than no third-quarter reports poured forth from industry, it was clear that U.S. business had successfully passed the test. Sales were up an average of 16% from 1952, and net was up an average 20%, though profits in many cases were off slightly from the second quarter. As company after company reported good news, stock-market traders bought shares with gusto, and prices rose....
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