Facts & Figures

Warm-Up. U.S. soft coal production in 1947 reached 603,671,000 tons, 16.6% more than in 1946, and only 16,329,000 tons short of 1944's all-time peak.

Turn-In. When Robert Kirk, Ltd. offered to take in Christmas gift ties, give $1 credit for each toward a new one, San Franciscans in two days turned in 250 Yuletide mistakes. Put on sale, they were snatched right up, at $1 per.

Pay-Off. Kaiser-Frazer Corp. announced it had closed the year with almost $19,000,000 profit, out of which it had paid off a $12,000,000 Bank of America loan.

Trade-In. The Italian government followed up its monetary reform at home (TIME, Dec. 8) with a move to re-establish its credit abroad: it offered to exchange defaulted Italian bonds, par value $67,936,100, for a new 30-year issue with interest payable in dollars (1% until 1950, 3% from 1952 on). SEC lifted the wartime ban on trading in Italian bonds.

Split-Up. Common stockholders of Bethlehem Steel Corp. voted to split their 5,000,000 shares 3 for 1. But Chairman Eugene G. Grace dispelled any hopes of a special cash dividend out of Beth Steel's high earnings: they were being salted away, he said, to "maintain a sound financial structure" and to meet maintenance charges of $90,000,000 a year.

Rate-Boost. U.S. railroads, out for higher rates all around, got a sop from the ICC. It granted the roads a 25% temporary increase in mail rates. The increase, estimated to yield the railroads more than $32,000,000 a year, will remain in effect until ICC acts on their request for a permanent 45% hike in mail pay.

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