Earnings

Most important of companies to report their 1930 results last week was General Motors Corp. with earnings of $151,098,000 against $247,317,000 in 1929. Per share earnings were $3.25, of which $3.04 came from actual operating profits. The year's result was the poorest since 1925, when $107,070,000 was earned.

Of interest to fewer investors, less important as a business index, but perhaps the most remarkable 1930 statement yet to appear was that of Coca-Cola Co. Profits hit a new high record of $13,515,000 against $12,758,000 in 1929. Gallon sales rose from 26,981,874 to 27,798,730. U. S. sales amounted to a per capita Coca-Cola consumption of 28 bottles. Responsible for this showing, said Coca-Cola officials, was an extra $1,000,000 spent on advertising last year, and an extra $500,000 on sales efforts. Also beneficial: cheap sugar.

Other statements indicative of U. S. Business in 1930 included:

1929 1930 ooo's omitted Allis-Chalmers 4,330 3,604 American Seating 484 183 American Snuff Co 2,109 1,893 American Steel Foundries... 5,121 2,801 Calumet & Hecla Consolidated Copper 5,326 6,7470 Caterpillar Tractor 11,600 8,714 Congress Cigar 2,882 1,652 Crucible Steel 8,162 4,045 B. F. Goodrich 7,446 8,4OoD Hudson Motor Car 11,594 324 International Safety Razor. . 505 454 Irving Air Chute (para chutes) 452 241 Jewel Tea Co 1,691 1,705 La Salle Extension University 341 167 McGraw-Hill Publishing. ... 2,231 2,021 Marion Steam Shovel 534 68sD Mullins (motor body parts) Mfg 476 331D Parke, Davis & Co 8,331 7,514 Prairie Pipe Line 22,800 14,637 Remington Rand 6,068 2,995 Republic Steel * 3,522D Reynolds Metals 3, 560 1,730 Standard Brands * 16,402 Standard Oil of Kansas. . . . 1,512 380 U. S. Industrial Alcohol.... 4,720 1,160/- D=Deficit.

*New company.

/-Not including a $3,000,000 molasses inventory charged to surplus.

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