Monday, May. 27, 1957
PORK PRICES will hit three-year high this summer, then drop below last year's by next winter, Agriculture Department predicts.
SMALL BUSINESS Administration will be given permanent status by Congress this year, and its lending limit will be raised beyond current $230 million. Eisenhower Administration is stumping for boost to $450 million, but chances are good that Congress will go farther, set $500 million limit.
FIRST ATOM POWER PLANT in U.S. using natural uranium as fuel, instead of more expensive uranium enriched with U-235, will be built near Tampa by three Florida utilities. Florida Nuclear Power Group is expected to get AEC subsidy for $40 million plant that will have capacity of 136,000 kw. when it is finished in mid-1962.
LOW-COST HOUSES for Puerto Rico will be built by Rockefeller brothers and David Dubinsky's International Ladies Garment Workers Union. Union will buy $2,600,000 in U.S.-backed mortgages on 400 San Juan houses to be built by Rockefeller brothers' International Basic Economy Corp. Rockefellers will build more than 5,000 units, sell three-bedroom house for $7,000.
U.S. ENEMY ASSETS SALE will dispose of Hugo Stinnes' German mining and shipping empire, whose $67 million assets make it second richest wartime-seized enemy property still held by Government (first: General Aniline & Film). In deal expected to bring around $20 million, Justice Department is taking bids on its 53% interest in Stinns, for first time will allow aliens to bid for seized property.
RENT-A-PLANE service will be started this fall by Hertz Corp., which expects to have 50 rental air stations doing $2,500,000 business in its first year. At airports throughout U.S., car-rental company will franchise Cessna Aircraft Co. distributors to rent planes to private pilots. Rental for fly-it-yourself four-passenger Cessna plane: $1 an hour plus 15-c- a mile.
TVA FIGHT is heating up between public-and private-power proponents for control of Tennessee Valley Authority's three-man board. Term of Truman-appointed Dr. Harry A. Curtis has expired, leaving board without public-power majority for first time in 24-year TVA history. Top candidates to fill vacancy: Tennessee Republican Congressman Howard Baker, former TVA Engineer Adolph Ackerman, both of whom favor President Eisenhower's "partnership-power."
FREE TRADE PLAN of President Eisenhower for U.S. to join Organization for Trade Cooperation stands no chance of passage this year. Support is dwindling in Congress, and President would have to wage tremendous battle to push bill through, gives no indication he intends to do so.
COLOR TV PRICES will stay high "for a long, long time," says Radio Corp. of America President John L. Burns, who sees no scientific breakthrough for lower-cost color for "several years."
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