Paine Webber Group Inc. reported a 35%...

Paine Webber Group Inc. reported a 35% decrease in earnings to $20.7 million for its first quarter, compared to $32.5 million for the comparable period of 1987. Revenue for the 1988 quarter was $607.8 million, a 3% decrease from revenue of $629.4 million in the like period last year. “There is no question that Wall Street is still feeling the ripple effect of Oct. 19. Business has not yet returned to pre-crash levels and may not for some time,” the New York-based brokerage firm said.

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