Quarter Earnings

Large have been the earnings of the hugest U. S. corporations during the first three months of 1928, and unusual the deficits of others. By and large, the season was profitable for great numbers. Only 7,055 firms failed (for $147,519,198).

For the billion dollar corporations the first quarter earnings were:

1928 1927

American Telephone and Telegraph . . $55,060,226 $52,683,860

Atchison, Topeka and Santa Fe. . . 54,394,927 62,108,606

General Motors. . . 69,468,576 52,551,408

New York Central R. R. 88,138,494 93,215,683

Pennsylvania R. R. 147,740,574 164,358,253

Southern Pacific R. R. 67,313,728 67,880,438

U. S. Steel 40,934,032 45,584,725

Union Pacific R. R. 45,983,506 42,350,155

National City Bank, Chase National Bank and Standard Oil of N. J., billion dollar corporations, make no quarterly earnings report.

Among lesser companies the quarter's earnings were:

1928 1927

American Writing Paper $ 68,520 $ 50,899*

Canada Dry Ginger Ale 589,407 508,108

Chandler-Cleveland Motors 52,266 99,225*

Chrysler Corp 4,702,466 4,392,569

Coca-Cola 2,228,003 2,043,512

Conde Nast Publications 540,863 399,135

Gardner Motor 104,268 20,512

General Cigar 393,571 619,187

Hudson Motor Car... 4,207,373 4,026,515

Jones & Laughlin (steel) 2,903,457 3,658,724

Mack Trucks 745,672 1,459,304

National Cash Register 1,487,059 354,450

Packard Motor Car... 5,727,588 2,060,613

Pierce-Arrow Motor Car 359,763* 43,774

Studebaker Corp. of America 3,979,873 3,402,937

Victor Talking Machine 1,568,201 1,001,985

Westinghouse Air Brake 1,447,968 2,802,798

Willys-Overland Co... 2,802,896 2,358,896

* Deficit.