EARNINGS DOWN

ST. LOUIS Union Electric Co. earnings for the first quarter of 1991 were reported at $31.5 million, or 31 cents a share.

These figures are down from 1990 first quarter earnings of $37.4 million or 37 cents a share.

Earnings for the 12 months ending March 31, 1991, were $2.687 a share, unchanged from a year ago.

The revenue decline was prompted by a new rate structure, enacted last fall that reduced Missouri electric rates for commercial and industrial customers and winter rates for residential customers.