Business: Vaulting Profits

For many a U.S. businessman caught in a profit squeeze this year, the nation's banks are a source of envy as well as credit. Aided by the highest money rates in 30 years, the biggest banks last week checked in with record nine months' earnings reports, posting increases of from 5% to 27% over 1939's three quarters.

The nine-month gains were racked up despite a slowing in the third quarter, caused by the lowering of the prime interest rate from 5% to 4½% and a falling off in loan demand. But with loan demand again picking up, 1960 seems sure to be...

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