Salt Lake Telegram | 1931-07-22 | Page 20 | Gen. Motors Makes Quarterly Report

y Gen Gene Motors Makes Make's Quarterly Report NEW YORK July 22 P General P General Motors corporation on today reported second quarter net earnings of 55 equal after preferred dividends Divi divi- Dividends to a share on the common common common com com- mon stock stock The corporations corporation's holdings of or cash United States government and other marketable securities on June 30 aggregated aggregated aggregated ag ag- ag- ag as compared with on December 31 and on June 30 1930 Net Networking Networking working capital at the end of the re recent re- re recent cent half was against ag on December 31 and on June 30 of last year ear earIn In the second quarter General Moors Motors Motors Mo- Mo tors ors delivered cars to American Amer- Amer Scan ican can consumers compared with in the corresponding period of 1930 Sales by the corporation to American dealers totaled compared compared compared com com- pared watt with while total sales to dealers including Canadian sales and exports amounted to cars against For the first half halt year the corporations corporation's corporations corporation's corporations corporation's cor cor- American dealers delivered delivered deity deity- ered erect to users cars against Sales to American dealers totaled to totaled totaled to- to cars against and total sales to all dealers were ere cars compared with While White progress has been made In Injecting into the corporations corporation's op operations operations operations op- op further operating economies economies economies mies said Alfred P. P Sloan Jr president president president pres pres- ident the influence on net profits proms has been offset by the shift shUt of de demand demand demand de- de mand to lower priced units reflecting reflecting reflecting reflect reflect- ing the general circumstances prevailing prevailing pre pre- during the period under re revIew review review re- re view the second quarter Sales of or the automotive Industry as a whole to consumers in the United United United Unit Unit- ed States were approximately 27 percent per percent percent cent less in the second quarter than thana a year ear ago Sales of General Motors cars to consumers were 25 per cent less lass in the second quarter than a year ago The more favorable comparison comparison comparison com com- parison of the corporations corporation's sales is accounted for by the fact tact that the corporation is enjoying a somewhat larger percentage of the business available than was the case last year