OIL COMPANIES are starting to strike it rich in uranium. Phillips Petroleum Co. has uncovered high-grade ore body with estimated 1,500,000 tons of ore on 1,280-acre lease previously shared with Holly Minerals Corp. near Grants, N. Mex., has started talks with AEC to construct processing mill.

NEW SUPERSONIC BOMBER will be built by North American Aviation (F86 Sabre, F-100 Super Sabre) for U.S. Navy. North American has $86 million development contract for 1,000 m.p.h., twinjet, A3J carrier-based bomber.

MINIMUM WAGE BOOST to $1 per hour has been extended to 36 more businesses working on Government contracts. Among them: luggage, fireworks, tobacco, evaporated milk, soap, fertilizer, cement, tags, surgical instruments. Total affected thus far: 46.

PACKAGING MERGER between Continental Can Co. and Hazel-Atlas Glass Co. has gone through despite Justice Department objections. Manhattan Federal District court refused temporary injunction blocking merger as antitrust violation, but Justice will proceed with civil suit against Continental, try to undo merger of two companies (second biggest in metal-and glass-container fields respectively) later.

TURBINE-POWERED SHIP is whopping success so far, reports Maritime Administration. In five-day sea trials, first war-weary Liberty Ship fitted with experimental gas-turbine power plant and longer bow clipped along at 18 knots, almost double original, steam-powered speed.

BIGGEST CAR DEAL in history will be closed by Hertz Corp. and local affiliates. For $33 million, nation's biggest auto rental outfit will buy 15,600 new 1957 models, 75% of them sedans (Chevrolets, Fords, Plymouths, Oldsmobiles, Buicks, Cadillacs), the rest convertibles, sports cars (probably Thunderbirds) and station wagons.

BOEING JETLINERS will probably be bought by Britain's BOAC and other Commonwealth airlines. Boeing is in line to get order for 17 planes from BOAC, another three from South African Airways to add to seven jets recently sold Australia's Qantas Empire Airways. Rumors also buzz that Boeing will get order for 19 more 707s from Howard Hughes's Trans World Airlines, which has already ordered eight.

NEW CITY will be built on last big block of undeveloped land in Los Angeles metropolitan area. For sum in "excess of $10 million," Transamerica Corp. and Christiana Oil Corp. (headed by former U.S. Ambassador to Britain Lewis Douglas) have bought 8,000-acre Diamond Bar Ranch near Pomona, only 20 miles from downtown Los Angeles. Plan is for community of 100,000, with shopping centers, schools, churches, 30,000 homes in $15,000-to-$40,000 price range.

COAL EXPORTS will be pushed to new record by growing European demand. At current pace, booming overseas business will boost bituminous coal exports to 44 million tons in 1956, some 1,000,000 tons more than previous peak in 1947; anthracite coal is also keeping pace, topped 1,000,000 tons for first seven months of 1956 v. a mere 266,000 tons this time last year.

SHORTER WORK WEEK will be next big labor goal. A.F.L.C.I.O. officials and research directors met last week in Washington to draw up preliminary plan for demands, such as cutting standard work week to four days totaling 32 hours, with overtime for everything more. One chilling problem, which unionmen noted: Do women want their husbands around house three days a week?

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