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....
