Monday, Apr. 01, 1957
ANTI-MERGER BILL is expected to pass Congress and be signed into law by President Eisenhower, despite opposition by N.A.M. and U.S. Chamber of Commerce. Some minor amendments may be made, but final version will still say that Government must have 60 days' advance notice of any merger that would produce combined company worth $10 million or more.
GERMANY'S FIRST REACTOR for commercial atomic power will start generating 15,000 kw. by 1959 from fuel sold under U.S. Atoms for Peace plan. Construction begins this fall.
LOWEST CROP ACREAGE since 1917 will be planted this year by farmers, who are seeding 334 million acres v. 346 million last year. But 3.5% cut is only half what Department of Agriculture expected from the soil-bank plan, and recent increases in productivity per acre may keep output at same granary-bursting peak.
EGG PRICES, now at a 15-year low for this time of year because of record production and lessened demand, will stay down through summer, then turn up because farmers are buying fewer replacement chicks. Retail prices last week for a dozen large grade A eggs were as low as 47^ in Chicago, 45-c--in New York, 41-c- in Los Angeles.
FIRST JET-ENGINE SALE by General Electric to commercial air market will put G.E. power plants into Convair's four-engine Golden Arrow 880 jets. Initial order worth $20 million calls for 160 of G.E.'s new CJ-805 engines.
AIR SUBSIDY PROBE will reexamine mail payments to Pan American World Airways as far back as 1946. CAB says its general investigation of company (TIME, March 18) showed that "for the 1946-53 period alone Pan American's expense, underwritten with subsidy, may have been overstated by as much as $6,500,000." Agency also is pressing Pan Am to refund its $5,936,000 subsidy for Pacific operations in 1954.
SPEEDY "DAN'L WEBSTER," New Haven Railroad's $1,500,000 new light train, which broke down on a trial run (TIME, Jan. 21), is back on the tracks, will make three one-way trips daily between New York and Boston.
NEW AIR-TRAFFIC PLAN is being worked put in Washington. CAA ground stations will soon start controlling all instrument flights above 24,000 ft., by Jan. 1 expect to begin controlling altitudes above 15,000 ft.
TRAILER-SHIP DEAL is brewing between United States Lines and TMT Trailer Ferry, the first company to send loaded truck trailers across the Atlantic. Talks are under way for United States Lines to build trailer ships, TMT to help run them.
U.S. LUXURY LINER to replace aging S.S. America will probably be constructed by Louis Wolfson's New York Shipbuilding Corp., which gave low bid of $112 million for the 53,000-tonner.
MEATIER CHICKENS are being produced by Texas A. & M. researchers, who found that only 25-c- worth of molybdenum added to 2,000,000 Ibs. of poultry feed results in 15% greater growth. The mineral enables chicks to utilize feed better.
ANTITRUST SUITS by six companies against United Shoe Machinery Corp. may be settled out of court since United has paid $1,400,000 and some patent rights to get one of them dropped. Still pending are multimillion-dollar monopoly damage claims against United by Allied, International and Rapid shoe machinery companies, Hanover Shoe Co. and W. B. Coon Co.
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