Earnings

Two months ago the venerable Atlantic Monthly inaugurated a new advertising policy by which big companies could purchase 20 pages in the back of the magazine for $10,000, using eight pages to print stories about themselves and the other twelve for display advertising. Last month the first story to appear was an account of General Motors by Arthur Pound, whose chief point apparently was that General Motors is in business to stay. Last week President Alfred Sloan Jr. confirmed the fact by announcing earnings of $94,769,000 for 1934 as against $83,213,000 for 1933. World sales by the parent company and subsidiaries were 1,240,447 cars and trucks against 869,035 in 1933.

Other earnings announced last week:

P: The fastest selling cigaret last year was Chesterfield (Liggett & Myers) which sold 34.5 billion against 33.8 billion for Camel and 33 billion for Lucky Strike (TIME, Jan. 21). Last week Liggett & Myers reported 1934 earnings of $20,086,000, up more than $3,000,000 from 1933. Simultaneously the directors declared the usual extra dividend of $1 besides the regular quarterly dividend of $1.

P: Soap sales boomed the first quarter of last year when retailers and the public stocked up before the 3-c--per-lb. tax on imported vegetable and fish oils raised prices. Last week Procter & Gamble reported fourth quarter earnings of $3,458,000 which brought earnings for the calendar year to $14,000,000 against $13,000,000 for 1933.

P: Caterpillar Tractor Co., which went into the red when Russia stopped buying tractors, was pulled out late in 1933 by emergency relief road building and the Diesel engine. Earnings for 1934: $3,651,000 against $302,000 in 1933.

P: F. W. Woolworth Co. announced earnings for the year of $32,142,000 against $28,690.000 for 1933. During the year Woolworth had abandoned 16 stores, now operates 1,957 in the U. S. and Canada.

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