Word: thirdly
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Dates: during 1960-1960
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...some of the other big economic indicators behaving? In the third quarter, gross national product probably fell slightly from an annual rate of about $505 billion to $504 billion or $503 billion, largely because of the decline in inventory accumulation. It was the first G.N.P. decline in 1960, and still left the rate higher than it has ever been in any other year. Early third-quarter reports show that corporate profits have been disappointing. Of most concern to economists is a third-quarter fall-off in final demand, i.e., what the consumer and the Government actually buy. After running...
...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 the best earnings year in banking history...
...Chase Manhattan Bank, second largest in the nation after California's Bank of America, reported net earnings up 20.1% for the first nine months, from $3.42 to $4.11 per share, despite a third-quarter increase of only 11.9%. The third largest U.S. bank, the First National City Bank of New York, posted a 14.5% nine months' gain over 1959, with per-share earnings up from $4 to $4.58. Its third-quarter gain...
Morgan Guaranty Trust Co. boosted earnings 26.8% for the nine months, from $4.18 to $5.30 per share, and third-quarter earnings were up 14.8%. Profits of the Chemical Bank New York Trust Co. were up 5.4% for the nine months to $3.60 per share, and third-quarter earnings held steady. Despite a third-quarter earnings decline of 3%, Irving Trust Co., the ninth largest U.S. bank, came through with a 27.3% increase in the nine months' period, shooting earnings from $2.03 to $2.59 per share...
Outside New York, banks did as well or better. The First National Bank of Boston, despite only a 3.5% third-quarter increase, raised nine months' earnings 11% to $4.69 per share; the National Bank of Detroit gained 17.3% to $4.25 per share; the Philadelphia National Bank pushed up from $2.38 last year...