Facts & Figures

Foreign Investment. Two oil companies made the first big postwar investments of U.S. private capital in Italy. Standard Oil Co. (N.J.)* became a partner in Italy's rig ANIC (Azienda Nazalonale Idrogena-zione Combustibili), by putting up $6,000,000. It will get a 50% interest in a new company which will modernize and operate two ANIC refineries, with a combined daily capacity of 16,000 barrels, at Leghorn and Bari. Caltex Oil Products Ho., joint subsidiary of the Texas Co. and Standard Oil Co. of California, bought an interest in Italy's Petrolea S.A., subsidiary of FIAT. Caltex will build a $15 million plus, 10,000-daily-barrel refinery in the Po Valley. Like Standard's new Italian reineries, Caltex will process crude from Saudi Arabia.

Teeth. The American Dental Trade Association, which includes makers & sellers of tooth-pulling instruments, faced a little painful dentistry itself. The Federal Trade Commission charged its 144 members with price-fixing and restraint of trade. A.D.T.A. said the charges were "reckless and unfair."

Telephones. American Telephone & Telegraph Co., which already holds the record for the largest corporate securities offering ($357 million), will better its mark. It planned a new bond issue of about $391 million, to be dated June 20. A.T. & T. will use the cash to help finance its $2 billion expansion program.

Records. RCA Victor posted the prices for its new small records (TIME, Jan. 17). At 68^-c- for popular discs and $1 for classical ones, they were a nickel higher than Columbia's small Microgroove records. RCA's player-changer, which will sell for $24.95, was $5 less than Columbia's player, which has no automatic changer. But some retailers had already cut Columbia's price to $19.95.

*In Egypt, where Jersey Standard had invested $12.5 million, the company last week suspended operations "indefinitely." The principal reason: recent interpretations of Egyptian law blocked standard from exporting crude to its European refineries.

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