EXHIBIT (99)   

                           CLARK EQUIPMENT COMPANY
              COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                            (DOLLARS IN MILLIONS)

                                                         Twelve Months
                                                              1994    
Earnings Before Tax:

Clark-From Continuing Consolidated Operations                 $  92.1

Clark's 50% Share of VME (Net of Clark Goodwill
Amortization and Other VME Related Expenses)                     98.0

Total Pre-Tax Earnings (1)                                    $ 190.1

Fixed Charges:

Clark:
Interest Expense                                              $  20.0
Interest Portion of Rent Expense                                  1.6

Clark's Share of VME:
Interest Expense                                                  9.0
Interest Portion of Rent Expense                                  3.4

Total Fixed Charges (2)                                       $  34.0

Earnings from Continuing Operations Before
Taxes and Fixed Charges (1 Plus 2)                            $ 224.1

Ratio of Earnings to Fixed Charges                               6.59
                                                               =======

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 includes
the pre-tax income from Clark's Consolidated Continuing Operations and
Clark's 50% 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% share of VME's interest. 
Fixed Charges also includes one-third of Clark Rentals for Consolidated
Continuing Operations and Clark's 50% 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.