BUSINESS MEMO

CHICAGO - McDonald's Corp. officials have announced a 12 percent increase in third-quarter earnings due to success at reducing operating and development costs.

McDonald's reported net income of $289.2 million, or 79 cents a share, for the three-month period ended Sept. 30, up from $258.7 million, or 71 cents a share, during the same period last year.

Revenues increased 10 percent to $1.9 billion from $1.7 billion during the same period last year. Systemwide sales, which include both franchised, affiliated and company-operated restaurants, rose 11 percent in the quarter to $5.87 billion, from $5.27 billion during the same period a year ago.

Sales outside the United States rose 23 percent for the quarter due to increased market penetration, stronger foreign currencies and higher sales at existing restaurants. Revenues from outside the U.S. increased 21 percent for the quarter.

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Dana Corp. has reported sales of $1.19 billion for the third quarter ending Sept. 30, a gain of 10 percent over third-quarter sales of $1.08 billion a year ago. Net income for the quarter was $18.4 million, or 40 cents a share, up substantially over the $4 million, or 12 cents a share, for the third quarter of 1991.

Nine-month sales for 1922 were $3.61 billion, up 11 percent for the same nine months of 1991. Net income for nine months was $52.5 million, or $1.21 a share, compared to net income of $11.7 million, or 28 cents a share, for the same period of 1991.

Dana officials pointed to continuing strength in sales of domestic light trucks as the key to increase in sales of the firm's components to the highway vehicle original equipment market.

Dana, headquartered in Toledo, Ohio, has a facility in Cape Girardeau.

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Ronald L. Netemeyer of Cape Girardeau and Charles E. Norton II of Kennett were among 140 professional engineers in Missouri who were invited to a certificate ceremony hosted by the Missouri Society of Professional engineers (MSPE) and the Missouri Board for Architects, Professional Engineers and Land Surveyors.

Attainment of a professional engineering license requires graduation from a four-year engineering program approved by the Accreditation Board for Engineering and Technology, passage of an eight-hour engineer-in-training exam and four years of work experience under the supervision of a licensed professional engineer and passage of a second eight-hour examination.

The certificate ceremony was held in mid-October at Jefferson City.

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Robert H. Erickson, manager of total quality, Marketing and Refining Division International, Mobil Oil Corp., will be guest speaker at a total quality management workshop to be held Nov. 16 at the Show Me Center.

Erickson joined Mobil in 1963 as an international marketing trainee after graduation from Dartmouth College's Amos Tuck School of Business Administration.

Erickson's assignments have included general manager assignments in Zambia, Norway and Nigeria.

The workshop will be held from 2 to 4 p.m, with a reception to follow.

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Union Electric earned $163 million, or $1.60 a share, for the third quarter of 1992, identical to results UE posted for the same period a year ago.

"Expense reductions and lower interest charges offset a sharp, weather-related decline in electrical revenues," said William E. Cornelius, chairman and chief executive officer.

Earnings for the first three quarters of 1992 totaled $255 million, or $2.50 a share, down from the $297 million, or $2.90 a share, compared to the same period a year ago.

Union Electric serves more than 1.1 million customers in a 25,000-square-mile territory that covers most of Eastern Missouri and small portions of Illinois and Iowa.

Union Electric also increased its quarterly dividend on common stock to 58 cents a share, up from 56 cents.

The dividend is payable Dec. 30 to stockholders of record on Dec. 9.

The UE board of directors also declared regular quarterly dividends of all series of preferred stock, payable Feb. 19, 1993, to stockholders of record on Jan. 20, 1993.

Union Electric has paid cash dividends since 1906. The company provides energy services to more than 1.1 million customers in a 25,000-square-mile area that includes most of eastern Missouri and small portions of Illinois and Iowa. UE reported earnings of $266 million on revenues of $2 billion for the 12 months ended June 30, 1992.

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Capital Bancorporation's third-quarter net income of $1,482,000 increased 11.1 percent over the same period a year ago, and 17.8 percent from the previous quarter in 1992. Earnings per share for the three-month and nine-month periods were 45 cents and $1.32 respectively. The year-to-date income was $2,775,000.

The allowance for possible loan losses was $6,818,000 on Sept. 30, 1992, representing approximately 237 percent of nonperforming loans and approximately 1.48 percent of total loans.

Capital Bancorporation anticipates a decision on its application filed with the Federal Reserve Board to acquire the Magna Bank of Southern Missouri during the fourth quarter.

The board of directors of Capital Bancorporation declared a regular quarterly cash dividend on common stock of 15 cents per share, payable Nov. 5 to shareholders of record Oct. 29. The board declared its quarterly cash dividend with respect to the preferred stock (depository shares), payable Dec. 1, to shareholders of records Nov. 20.

Capital Bancorporation, a multi-bank holding company headquartered in Cape Girardeau, operates 17 banking locations in Missouri.

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KANSAS CITY Commerce Banschares Inc. earnings for the first nine months of 1992 were up 20 percent.

The company, which has more than 130 locations offering banking services, including Cape Girardeau, reported earnings of $53.4 million, up from $44.4 million during the same period in 1991.

Per-share earnings were $2.75 for 1992, compared to $2.36 in 1991.

Earnings for the third quarter were up 24 percent, with 19 million, compared to $15.2 a year ago.

David W. Kemper, chairman and CEO, said "earnings for both third quarter and nine months were the highest in the history of our company."

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ST. LOUIS Massey Ferguson has introduced a mid-range horsepower tractor the MF 261 tractor with 53 PTO horsepower.

"The new tractor is designed to meet the needs of farmers who want a four-cylinder diesel engine in a mid-range tractor," said Ivan Heuer of Heuer & Sons Implement Co., in Cape Girardeau. "The MF261 is ideal for small farms, part-time farmers and light landscape jobs."

MF 261 features include hydrostatic power steering, adjustable spring suspension seat, swinging drawbar, seat belt and others.