Hertz Reports Record Sales, Net

Hertz Corp. had record revenues and earnings for the third quarter and first nine months of 1902.

Earnings for the nine months ended Sept. 30 rose 22 per cent to $5,477,939, equal to $1.57 per share, from $4,484,030, or $1.30 per share a year earlier. Revenues scored a 14 per cent gain, rising to $116,831,595 from $102,522,394.

Third quarter net was up to $2,242,851, or 64 cents per share, from $2,143,315, or 62 cents per share a year earlier. Revenues for the period totaled $40,154,090, compared with $35,747,424 in 1961.

The figures do not include operations of Atlantic National Insurance Co., wholly owned subsidiary, or Hertz American Express International Ltd., a subsidiary jointly owned with American Express Co.

Leon C. Greenebaum, Hertz board chairman, said that revenues are continuing to rise above the 1961 level. He added, however, that Hertz intends to keep its vehicle purchasing program and other planning "completely flexible, pending developments in the international situation and general economic conditions."

In October, Hertz announced that it plans to spend a record $105,000,000 to purchase 30,000 1963 cars and trucks.

In other action, Hertz announced a new reduced Monday-through-Friday rate for New York City Under the plan, a car can be rented after 9 a.m. on Monday and retained until 5 p.m. Friday for $32 plus 10 cents a mile for a Corvair or $37 plus 11 cents per mile for a Chevrolet or sedan. The regular rate is $50 for five days for a Corvair and $55 for a Chevrolet. The special rare is not available at New York airports.