Business & Finance: Earnings

"Just think of it!" crowed President Eugene Gifford Grace of Bethlehem Steel fortnight ago after announcing his company's 1936 profits. "We earned a net of $13,901,000 last year against $4,291,000 in 1935, and started 1937 with $123,690,000 of unfilled orders on our books. We have never faced anything like so good a situation in peace times. Why, we started the extraordinary year of 1929 with only $86,000,000 of unfilled orders on our books."

Even more remarkable than his figures was Mr. Grace's own exuberance. Perhaps to counterbalance the perennial cheer of his colleague,...

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