EARNINGS: Good Third Quarter

U.S. corporation profits in 1941's third quarter were hay made while the sun shone. Combined profits of 200 big concerns (compiled by National City Bank) were $374,000,000, highest since 1929 and 48% above the September quarter of 1940. Nine-month profits were up 28%.

But over these cheerful figures hung a sinister statistical shadow. For the first time in U.S. financial history, Federal tax collectors got a bigger share of profits than shareholders. The National City Bank calculated that Federal income taxes on 140 concerns in the first nine months of this year...

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