STATE OF BUSINESS: Strong & Steady

The U.S. gross national product soared to a record-smashing rate of $413 billion in the third quarter, some $4.7 billion higher than during the second quarter, the President's Council of Economic Advisers reported last week. The general increase in business was reflected in third-quarter earnings. Despite the steel strike, many a company reported record profits; only a few were down, and few of those were seriously hurt.

Naturally, steel was hardest hit by the 35-day strike. Youngstown Sheet & Tube's earnings dropped to $3,381,000 in the '56 third quarter from $11,240,677 a...

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