Earnings

An important business index which has long made gloomy reading showed a sudden turnabout last week. Carloadings (for the week ended Oct. 3) came to 777,837 cars, an increase of 39.808 from the preceding week and the highest of the year. Previous 1931 top was 775.291 for the week ended May 2.

While businessmen hoped this might mark a delayed autumn movement of goods, their main attention last week was devoted to scanning nine-month earnings reports. American Telephone & Telegraph showed $128,465,000 against $123,450,000 in the same period last year. This was the most the company has ever earned for three quarters, but the showing was made possible only by the first half results. The third quarter earnings were $39,346,000 against $41.653.000 last year and came to $2.12 a share against a $2.25 dividend requirement.

Other companies which had reported their third quarters by last week included: (000's omitted) 1931 1930

American Chicle $ 527 $ 616 Atlantic Refining 1,241 2,025 Auburn Automobile 977 178 Beechnut Packing 444 758 Curtis Publishing 2,869 3,936 General Electric 9,873 13,889 Industrial Rayon 333 362 Johns-Manville 261 1,202 Lehigh Valley Coal 26 183 Mathieson Alkali 387 489 Motor Products Corp 51d 15 Nash 1,906* 1,777* Otis Elevator 1,171 2,022 Peoples Gas Light & Coke 1,159 1,356 Sangamo Electric 335 286 Scott Paper 235 251 Seagrave Corp 1d 45d Union Oilf 3,200 8,000 United Biscuit 481 555 United Fruit 264 1,364 Western Union 1,276 1,950 White Rock 295 325 Zonite 232 219 ^

* Three months ended Aug. 31. d--deficit. /- Nine months.

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