Earnings

Deep was the dent made by the collapse of crude rubber prices in the 1928 earnings reports of U. S. tire companies (TIME, Aug. 27). Had January-June deficits been continued into the end of 1928 and 1929, many an Akron executive must have felt it his duty to warn his family that a Spectre loomed not far ahead.

Last week, Akron households could prudently rejoice that the Spectre was averted. Complete figures for 1928 showed low profits, heavy losses since 1927. But the figures also showed that the corner had been turned, that staggering inventory losses had been absorbed, that tire companies may reasonably hope for a happy and prosperous 1929. Net income reports of leading companies:

January-June July-December Fisk Rubber Co..--$8,483,134 +$691,882 U. S. Rubber Co. .--$14,084,269 +$3,303,014 Goodyear Tire & Rubber Co. +$574,199 +$10,253,644 B. F. Goodrich Co.--$1,574,889 +$5,087,892 Other 1928 figures, made public last week:

Union Carbide & Carbon Corp. (Eveready flashlights, etc.), $30,577,382, as against $25,340,660 in 1927.

American Safety Razor Corp. (Ever-Ready safety razors, corn-knives, etc.), $1,133,553, as against $1,047,403.

Studebaker Corp. (newlywed to Fierce-Arrow), $13,947,181, as against $11.937,861.

Western Electric Co. (manufacturing subsidiary whose divorce from the parent A. T. & T. is often rumored, never confirmed), $22,023,282 as against $19,339,174.

First Security Co. (first report since 1925 of George F. Baker's subsidiary security company), $5,585,463.

Curtiss Aeroplane & Motor Co. (with $4,581,920 in the call loan market); $1,528,782 as against $794,148.

Texas Corp. (Texaco gasoline and oil helped Capt. Hawks & Mechanic Grubb break coast-to-coast flight record): $45,073,879 as against $20,029,405.