EXHIBIT (99)

                           CLARK EQUIPMENT COMPANY
              COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                            (DOLLARS IN MILLIONS)
                                                              Nine Months
                                                                1994   
Earnings Before Tax:
                                   
Clark - From Continuing Consolidated Operations                  $ 64.5

Clark's 50 Percent Share of VME (Net of Clark Goodwill
Amortization and Other VME Related Expenses)                       66.7

Total Pre-Tax Earnings (1)                                       $131.2

Fixed Charges:

Clark:                                                           
Interest Expense                                                 $ 15.2
Interest Portion of Rent Expense                                    1.3

Clark's Share of VME:
Interest Expense                                                    7.5
Interest Portion of Rent Expense                                    2.1

Total Fixed Charges (2)                                          $ 26.1

Earnings from Continuing Operations before Taxes
and Fixed Charges (1 Plus 2)                                     $157.3

Ratio of Earnings to Fixed Charges                                 6.02
                                                                 ======

Note:

Earnings to fixed charges have been determined based on continuing
operations and have been computed by dividing earnings before income
taxes and fixed charges by fixed charges.  Earnings before income tax
include the pre-tax income from Clark's consolidated continuing
operations and Clark's 50 percent share of VME's pre-tax income, net of
Clark goodwill amortization related to its VME investment, and other
expenses directly related to VME.  Fixed charges include interest expense
relating to Clark's consolidated continuing operations and Clark's 50
percent share of VME's interest.  Fixed charges also include one-third of
Clark rentals for consolidated continuing operations and Clark's 50
percent share of one-third of the VME rentals.  The Company believes that
one-third of such rentals constitutes a representative interest factor. 
Capitalized interest has been excluded from fixed charges as it is
immaterial.











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