Facts & Figures

New Bull Market? The stockmarket, moving onward & upward for the eighth week in a row, reached a new high for the year. This prompted some financial writers to talk about "the new bull market now under way." The Dow-Jones industrial averages climbed 3.01 points to 184.77, the highest since last August.

Narrowing Gap. Northwest Airlines, Inc. inaugurated the first regular service from New York to Tokyo, Shanghai and Manila via the "Great Circle" route--i.e., over the Aleutians and northwest Pacific. The new route will be flown thrice a week, will shorten trans-Pacific flying time by as much as 72 hours. New York-to-Tokyo fare: $780.15.

New Word for It. Clarence Francis, chairman of General Foods Corp., told a congressional committee that food prices (see Commodities) may drop as much as 15% by harvest time next year. Along with this far-fetched hope, Francis had a new word for the economic drop which he expected by year's end. It will not be "a depression or even a recession. I prefer to call it a 'corrective,' and a fairly mild one at that."

Summer Dividend. To improve relations with its stockholders, McKesson & Robbins, Inc. offered them a free sample of its newest product, a suntan lotion. Of 17,000 holders of common stock, some 5,000 wrote right in.

Mighty Midgets. Boeing Aircraft Co. has developed two midget-sized gas turbine engines light enough to be carried (see cut). One model weighs only 85 lbs. Another, weighing 140 lbs., is rated at 200 h.p. (compared with 300 lbs. for a reciprocating engine of similar power). The larger engine may be adapted for use in boats, electrical generating, etc., as well as flying.

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