Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, October 18, 1995                   TAG: 9510180066
SECTION: BUSINESS                    PAGE: B-7   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

REPORTED EARNINGS

DETROIT - Gains in earnings at its subsidiaries and shrinking losses in its vast North American car and truck business helped boost General Motors Corp.'s third-quarter profits 16.4 percent from a year ago.

Earnings at the world's largest automaker were $642 million for the July-September period, compared with $552 million a year ago. Per-share earnings were 42 cents vs. 40 cents in 1994. GM's North American operations unit had losses of $93 million in the quarter, compared with losses of $363 million in the year-ago quarter. Revenues for the quarter were $37.5 billion, compared with $34.5 billion a year ago.

For nine months, GM reported profits of $5.1 billion, or $5.32 a share, compared with $3.3 billion or $3.41 a share in the 1994 period. Nine-month revenues rose to $124.9 billion from $112.4 billion.

General Motors Acceptance Corp., GM's finance subsidiary, said its profits for the quarter were $254 million, up 4 percent from $245 million a year ago.

- Associated Press

Piedmont Bank

Piedmont BankGroup Inc. of Martinsville reported record third-quarter earnings of $2.65 million, or 70 cents per share, up 21 percent from last year's $2.19 million, or 59 cents.

For the year to date, earnings were a record $7.29 million, up 7 percent from $6.81 million for the 1994 period.

The bank had loans of $547 million, deposits of $713 million and assets of $883 million.

United Dominion

United Dominion Realty Trust Inc., Richmond owner of apartments and industrial property in Roanoke and Salem, reported third-quarter net income of $7.5 million, or 10 cents per share, on rental income of $49.8 million, compared with year-earlier $6 million, or 12 cents per share, on rental income of $39.5 million. For nine months, net income was $25.2 million, or 41 cents per share, on rental income of $143.1 million, compared with year-earlier $13.4 million, or 30 cents per share, on rental income of $95.9 million.