SECURITIES
From Times Staff and Wire Reports
Securities Industry Profits Near Record: Profits in the securities industry are likely to reach a near-record $5.3 billion before taxes this year, officials of a Wall Street trade group said. The Securities Industry Assn. said earnings of investment firms, aided by strength in both the stock and bond markets, were challenging the all-time high of $5.5 billion, set in 1986. In 1990, a bear market year for stocks, the industry had a net loss of $161.8 million before taxes.
