The company said the one-time charge would reduce after-tax earnings for the period by $32.7 million, or $2.04 a share.

The company's after-tax earnings in its most recent fiscal year were $9.4 million, according to its annual report.

Without that charge, the transportation and energy concern said it would have had after-tax earnings from operations of $120 million, or 78 cents a share.

The company's after-tax fourth-quarter earnings will now be reduced by a total of about $66 million, or 64 cents a share.

And in fiscal 1989, ended in June, its after-tax earnings increased to $461 million, up 50 percent from 1988.

Costs associated with the closings will reduce after-tax earnings by $223 million, or $1.66 a share, in the second quarter.

But after the numbers have all been crunched, the spread in after-tax earnings can sometimes be little more than a point.

That will result in a $37 million charge against after-tax earnings in the fourth quarter, the company said.

The banking company projects after-tax earnings of at least $800 million.

The effect on after-tax earnings in the quarter was 2 to 3 cents a share.