EARNINGS: Still on the Rise

As the steel strike's effects continued to mount last week, one thing was certain: except in the steel industry itself, the strike had little effect on third-quarter earnings. Automakers, tobacco, chemical, oil and electronics producers all reported new highs. For most, third-quarter earnings were running about 20% ahead of the same period last year.

Even some of the struck steel giants, despite big quarterly losses, reported nine-month earnings well ahead of last year. Third-ranking Republic reported a net loss of $24,861,406, biggest quarterly loss in its 60-year history. But because of a record second period, Republic's nine months' net was...

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