Paramount Pictures, declared Joseph Patrick Kennedy, "is a chain of incompetent, unbusinesslike and wasteful practices" for which another receivership seemed inevitable. That was five years ago. Last week Paramount stockholders got their third-quarter report: profits were $3,071,000, highest since 1930 and almost double the $1,726,000 cleared a year ago. More significant, this net was twice that of archrival Loew's Inc. After ten years of tussling, Paramount was again the biggest money-maker in show business.
When Joe Kennedy wrote his epitaph of Paramount, many a Wall Streeter figured he was dead right. Paramount...
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