Profits: Battle of Behemoths

With corporate profits consistently and spectacularly on the rise for the last ten quarters, a seesaw, record-smashing battle of behemoths is going on. Last year General Motors reported earnings of $1.459 billion on sales of $14.6 billion, more than any corporation anywhere had ever earned in a single year. Last week, however, an old champion regained the crown. Reporting on the twelve months that ended Nov. 30, A.T. & T. Chairman Frederick R. Kappel informed his 2,250,000 shareholders that the telephone company and its sprawl of subsidiaries had net income of $1.522...

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