Consolidated Statements of Income

CONSOLIDATED STATEMENTS OF INCOME
(dollars and shares in millions, except per share data)
(unaudited)

Three Months Ended					Nine Months Ended
September 30					September 30
	1997		1996			1997		1996
$	1,113.4	$	1,174.6	Net Sales	$	3,512.8	$	3,530.0

				Costs and Expenses:
	971.8		1,043.3	Cost of sales		3,077.7		3,146.1
	56.4		65.5	Depreciation		173.7		208.6
	26.7		26.0	Selling, administration and general expense		79.6		78.2
	-		15.0	Estimated (gain) loss on exiting businesses		(135.0)		15.0

	1,054.9		1,149.8	Total Costs and Expenses		3,196.0		3,447.9

	58.5		24.8	Income from Operations		316.8		82.1

				Financing Income (Expense):
	(11.6)		(13.1)	Interest and other financing costs		(35.5)		(41.2)
	2.2		1.5	Interest and other income		5.7		4.5

	49.1		13.2	Income before Income Taxes		287.0		45.4

	(8.5)		(2.2)	Provision for Income Taxes		(48.0)		(7.7)

	40.6		11.0	Net Income		239.0		37.7

	10.4		10.5	Dividends on Preferred and Preference Stock		31.2		31.5

$	30.2	$	0.5	Net Income Applicable to Common Stock	$	207.8	$	6.2

				Net Income per Common Share:
$	0.27	$	-	Primary	$	1.85	$	0.06
$	0.26	$	-	Fully Diluted	$	1.75	$	0.06

	112.6		111.5	Average Primary Shares Outstanding		112.3		111.1

The accompanying Notes are an integral part of the Consolidated Financial Statements.