Facts & Figures

Steel. Steel production hit an alltime weekly high at 100.1% of rated capacity.* Production at 1,804,300 tons was 13,000 tons higher than in the week of April 24, 1944, the wartime peak.

Radio. Directors of RCA promoted Frank M. Folsom, 54, from executive vice president to president, on the say-so of Chairman David Sarnoff, who has been doubling as president. A merchandising expert for over 30 years, Folsom was once a vice president of Montgomery Ward, served as assistant chief of Navy procurement for nearly two years during World War II, and joined RCA in 1944. Folsom, who will share top responsibility with Sarnoff (still chief executive officer), was full of beans about television. Said he: "Television is ... two years ahead of the most optimistic post-war forecasts . . . Today there are 47 stations . . . serving 22 states ... At the end of 1949, tne outlook is for 123 stations in 35 states [reaching] 51% of the population . . . It is estimated that 1,600,000 new television receivers will be added to the million already in operation."

Autos. Henry Kaiser & Joe Frazer, who have been building cars at Willow Run under a lease with options to run for 20 years, made a deal with the War Assets Administration to buy the plant. They will get Willow Run for $15,100,000, about 35% of cost. Kaiser-Frazer will pay for the plant in 20 yearly installments.

Textiles. A new synthetic textile ("the best we know of for outdoor use") was hailed by Du Pont. Called "Orlon," it is described as warm as silk, as wrinkle-resistant as wool, and resistant to moths, molds and mildew. Though nylon is less likely to tear, Du Pont said that nylon, rayon, linen and cotton were "complete failures" in an exposure test which hardly affected Orlon.

Oil. Mrs. Edward L. Doheny, widow of one of the principals in the Teapot Dome oil scandal of the 20s, agreed to sell her one-fourth interest in California's Coalinga Nose, Pleasant Valley and Guijarral Hills oilfields. Price: $43 million. Buyer: Tide Water Associated Oil Co.

Ships. The Newport News Shipbuilding & Drydock Co. was the low bidder on U.S. Lines' projected new 48,000-ton superliner (TIME, Aug. 2), proposing to build the ship for $67,350,000. The contract must still be approved by the U.S. Maritime Commission.

Foods. Although this year's harvest was the greatest in U.S. history, the Department of Agriculture set even higher production goals for many foods next year. Biggest boosts: milk up about 3%, chickens and turkeys 10%, sheep 7%, sweet potatoes 8%.

*The capacity rate is based on furnaces available at the beginning of each year. What accounts for the "overcapacity" production is the sizable (more than 1,000,000 tons a year) expansion in 1948, which will not be added to "rated capacity" until next month.

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