High Light. The U.S. electric utility industry reported that its first-quarter profits had broken all records. With earnings in from nearly all major companies, net profits were estimated at $202 million, thanks partially to higher rates and lower fuel costs. Previous high mark: $196 million, in the first quarter of 1947.
Down & Up. In a big week, Packard Motor Car Co. cut prices 4½% to 8½% on six models and reported a net income of $3,911,033 for the first quarter of 1949, three times its net for the same quarter last year. The auto price cuts nipped from $26...
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