EARNINGS: Good Beginning

Helped by defense orders, U.S. manufacturers' sales reached a record $53,100,000,000 in the first three months of this year, SEC and the Federal Trade Commission reported last week. Since costs rose faster than sales, profits dropped to $3,300,000,000, or 8% below igso's last quarter. But they were still 36% higher than in 1950's first quarter.


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