When worried stockholders of American Motors Corp. met in Detroit last week, they were prepared for bad news about the company, which in fiscal 1956 lost $19.7 million. They were not disappointed. In the first quarter of its fiscal 1957 (October through December), the three-year-old merged hybrid (Nash-Kelvinator-Hudson) piled up a loss of $2,994,613 v. a profit of $2,512,568 in the same period the year before.
But the comparison was not so bad as it seemed. In 1955 the company had made a $7,141,920 profit in the quarter by selling off a large...
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