"c           VAR 0069      09005 NETEARN 2R 881-939               MD= 1E-37   "
"c           REF 0069         LOC  582 WIDTH  9             DK  10 COL 17-25  "
"c                                                                            "
"c                                                                            "
"c              NET EARNINGS, WESTERN UNION TELEGRAPH COMPANY                 "
"c              ---------------------------------------------                 "
"c                                                                            "
"c              NBER SERIES:  09005                                           "
"c              AREA COVERED:  U.S.                                           "
"c              UNITS:  THOUSANDS OF DOLLARS                                  "
"c              ANNUAL COVERAGE:  NONE                                        "
"c              QUARTERLY COVERAGE:  FOURTH, 1881-FIRST, 1939                 "
"c              MONTHLY COVERAGE:  NONE                                       "
"c              SEASONAL ADJUSTMENT:  NONE                                    "
"c              SOURCE:  COMMERCIAL AND FINANCIAL CHRONICLE, EXCEPT FOR       "
"c              1931-1932 DATA WHICH ARE FROM THE WESTERN UNION TELEGRAPH     "
"c              COMPANY BY LETTER.                                            "
"c                                                                            "
"c              NOTES:  A STRIKE IN JULY AND AUGUST, 1883 IS ESTIMATED IN     "
"c              THE ANNUAL REPORT TO HAVE REDUCED TOTAL PROFITS BY $          "
"c              900,000.                                                      "
"c                   THIRD QUARTER DATA FOR 1890 REFLECT LOSSES SUFFERED BY   "
"c              A DISASTROUS FIRE IN JULY, 1890.                              "
"c                   THIRD QUARTER DATA FOR 1907 REFLECT A DEFICIT DUE TO A   "
"c              STRIKE BY OPERATORS FROM EARY AUGUST TO NOVEMBER 7.           "
"c                   BEGINNING IN 1913, DATA ARE NOT PUBLISHED FOR EACH       "
"c              QUARTER, BUT WERE COMPUTED BY USING SUMS OF THE FIRST THIRD,  "
"c              SIXTH, AND NINTH MONTHS RESPECTIVELY OR THE FIRST SIXTH AND   "
"c              NINTH MONTHS, AND LAST SIX MONTHS RESPECTIVELY, TOGETHER      "
"c              WITH THE PUBLISHED TWELVE MONTHS' TOTALS.                     "
"c                   1918 DATA INCLUDES A $3,327 PAYMENT FROM U.S.            "
"c              GOVERNMENT; 1919 INCLUDES $5,184.  GOVERNMENT OPERATION       "
"c              LASTED FROM AUGUST, 1918 TO JULY, 1919, AND QUARTERLY DATA    "
"c              IS NOT AVAILABLE FOR THE LAST TWO QUARTERS OF 1918 OR FOR     "
"c              ANY QUARTER OF 1919.                                          "
"c                   1938 DATA REFLECT A DEFICIT.                             "
"c                                                                            "
"c              CHECKED MANUALLY; NO CORRECTIONS NECESSARY.                   "
"c                                                                            "
"c           ...............................................................  "