The nation's two biggest manufacturing industries last week showed how hard they were hit by the recession in earnings figures for 1961's first quarter. Chrysler reported a loss of $21.9 million, largest in its history, making a deficit of $2.45 a share v. earnings of $1.25 a share in the first quarter of 1960. General Motors' earnings dropped to 65¢, compared with $1.14 a year ago; American Motors declined to 12¢ v. 1960's 80¢ a share.
The nation's steelmakers showed up just as poorly. U.S. Steel's earnings plummeted to 47¢ v. $1.97 in the first quarter of 1960, when they were making...
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