Despite all the news about disappointing industrial production and a slowing in the growth of the gross national product, corporate profits appear to have done surprisingly well in 1962's third quarter. Two out of every three major companies reporting last week boasted higher earnings than in the strong third quarter of 1961. A number of companies, including General Telephone, American Broadcasting and American Home Products, posted their highest third-quarter profits ever.
Gains were general in industries ranging from brewing, cosmetics and food processing to lumber, gypsum and aerospace. Standard Brands' earnings...
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