TIME CLOCK
UNION battle for control of Montana's two big copper locals has ended after three months of bitter campaigning. Workers voted overwhelmingly (4,099 to 2,185) to stay in the Communist-dominated International Union of Mine, Mill and Smelter Workers, instead of switching over to the C.I.O.'s United Steelworkers' union.
R.C.A.. first color TV sets have just started rolling off the production line, will go on sale this month. Price: $1,000 for a 15-in. receiver plus $149.50 for service (one year) and installation (minus antenna). R.C.A.'s sales estimates for the industry: 70,000 in 1954, 350,000 in 1955, 5,000,000 a year by 1958.
TOURISM, one of the world's biggest sources of income from the U.S., climbed to a record $1.3 billion in 1953, a jump of $115 million over the year before. Of the total, U.S. tourists spent $900 million directly in foreign countries, the other $400 million traveling to get there.
SUNBEAM Corp., a major small-appliance maker (1953 net sales: $79,860,203), may soon make its first move into the heavy-appliance field. The company is now test-marketing a three-quarter-ton home air conditioner ($389.50), expects to sell it through small housewares stores.
WEST Germany has taken a step toward freer exchange of its money with other currencies. It will allow foreign exporters and businessmen to deposit Deutsche Mark proceeds of their sales in accounts that can be converted to dollars or foreign money. Businessmen from hard-money nations, such as the U.S. and Canada, will have no restrictions, but those from soft-money countries, such as France and Turkey, may convert only to other soft currencies.
NORTHROP Aircraft, Inc., which had wing troubles that grounded early models of its F-89D Scorpion interceptor, has eliminated the bugs. The Air Force has given Northrop a $155 million contract to produce more of its two-man jets, heaviest-armed (104 rockets) fighters in existence.
CHEWING-tobacco decline (production down 29% in nine years) is the fault of the automobile, says E. A. Darr, president of R. J. Reynolds Tobacco Co. "In the horse & buggy days, a fellow could chew and expectorate safely. Not any more."
PREMIUM-gasoline competition is getting hotter. The Texas Co. is putting on the market Top Octane Sky Chief Super-Charged, which it claims will increase efficiency, cut down carbon deposits and extend engine life as much as 60% through use of a special compound (Petrox).
PILLSBURY Mills and Kellogg Co. have joined forces to try to grab a big part of the baking-mix market in Canada before General Mills gets a new Toronto plant into production. The two firms have formed a new company, Kellogg-Pillsbury Co. of Canada, which will start operations at Kellogg's London, Ont. plant, will expand later.
NORTH American Aviation Inc. is getting into the AEC's atomic-power program, will explore one of five proposed methods (TIME, March 22) of producing electricity from the atom. Under a deal with AEC, North American will put $2,500,000 of its own money towards designing and building an experimental, $10 million reactor with a capacity equal to 20,000 kw. of heat which, with generators added, would light a town of 5,000, will have it ready for testing by 1956.
AIR travel on the installment plan, will get its first nationwide test next month. Pan American has made a deal with a finance company, hopes to boost business 25% by letting U.S. travelers fly anywhere over its 83-country route for 10% down, the rest in small monthly (up to 20) installments. Sample trip: one week, with all expenses, in Bermuda for $13 down, $10.82 for twelve months.
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