EARNINGS: Billion-Dollar Baby

For the 110,000 stockholders, Du Pont's lean, able President Crawford H. Greenewalt last week totted up the score on a year of "transition from a sellers' to a buyers' market." His cheerful finding: "No serious dislocation or detriment to the company's business . . ."

This seemed like deep understatement. In 1949, for the first time, Du Pont's sales had crossed the billion-dollar mark to $1,025 million, a gain of 6% over the previous year. What was more remarkable, Du Pont's profits had jumped 20%. With dividends from Du Pont-controlled General Motors,...

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