HIGHWAY PROGRAM, which originally called for government spending of $50 billion over the next ten years, may be cut almost in half by the time it gets to Congress in January. General Lucius B. Clay, boss of the President's advisory committee, thinks that the first goal was too high, will recommend a $26 billion program to be financed by federal revenue bonds over a 30-year period instead of toll charges.

ICC SHAKE-UP will be recommended in a Cabinet committee report going to the President this month. The Committee wants the President to ask Congress for a complete overhaul of ICC rules and policies to do away with red tape (TIME, April 5), give rail and highway carriers more freedom to set their own rates, and allow railroads to cut out money-losing passenger lines without the necessity of getting permission from state regulatory bodies.

PARIS STOCK MARKET is booming as a result of France's economic recovery. Many small savers now have enough confidence in the future to sell their hoarded gold to invest in stocks. Some of the biggest gainers since last January: Esso Standard, which climbed from $27 to $257 per share, Suez Canal Co., which went from $243 to $355, and Schneider-Creusot steel and arms works, which nearly doubled, to $47 per share.

BOEING B-52 jet-bomber production will be speeded up by the Air Force. The eight-jet (600 m.p.h.) heavy bomber, first ordered for seven Strategic Air Command wings (about 200 planes), may eventually equip as many as eleven wings with about 350 planes.

OVERSEAS OIL investment will soon get a big boost from Shell Oil Co. and Standard Oil of California. Shell, in association with Anglo-Iranian Oil Co., Ltd., will spend $40 million to build Ceylon's first oil refinery, turn out 1,200,000 tons of gasoline and other products annually. Standard will do the same for Hawaii by building the islands' first major refinery at a cost of $30 million, including facilities to refine 30,000 bbls. of oil daily, enough to take care of most of Hawaii's retail needs.

EXECUTIVE RESERVE will be set up by the Office of Defense Mobilization to help run key Government agencies in the event of war. An elite corps of 300 volunteer executives will be trained to take over specialized jobs (production, manpower, etc.) in an emergency, will go to Washington once or twice a year for refresher courses.

MINUTE MAID CORP., which started the frozen-orange-juice boom in 1945 (1953 sales: $36.4 million), has just closed a $40 million deal to buy its biggest competitor, the Snow Crop division of Clinton Foods Inc. Minute Maid will pay Clinton $22.5 million in cash and $17.3 million in Minute Maid bonds for six processing plants and 7,500 acres of citrus groves, will get a full line of frozen fruits, vegetables, fish and poultry, besides becoming by far the biggest orange juice producer in the field.

CAPITAL AIRLINES, which ordered 40 Vickers Viscount turboprop transports from Britain (TIME, June 14), is so enthusiastic about the 335-m.p.h. British plane that it has upped the order to 60, plans to have the first turboprop flying on U.S. air lanes next April.

TEXAS OILMEN Clint Murchison and Sid Richardson, who own 80% of Kirby Petroleum Co. (120 wells, three plants in seven states), are negotiating to sell the company to Continental Oil Co. Conoco, which operates in 26 states and Canada, has offered $26 million for the company, would pay $10.20 a share plus all accrued dividends for 500,000 preferred shares, $34 a share for 593,000 shares of common stock.

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