Profits: Sharpening Up

Nothing makes happier reading for businessmen than profit figures, and the reading has been very good of late. Last week U.S. corporations continued to report new profit highs. Among them: Litton Industries (up 43% for the fiscal year), Procter & Gamble (up 6% for the year), CBS (up 33% for the first half), I.T. & T. (up 13% for the half) and Ampex (up 6% for the quarter).

So far, 37 industrial firms with annual sales of more than $100 million have set new earnings records for the first half. The 713 manufacturing concerns that New York's First National City...

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