MEAT PRICES, which accounted for 20% of cost-of-living index boost since December, will stay high for another year. Livestock herds are low, will not reach another cyclical peak until 1959.

FIRST TELEPHONE CABLES from California to Hawaii will be laid under Pacific Ocean to supplement radiophone service. American Telephone & Telegraph Co. and Hawaiian Telephone Co. are spending $37 million on two 2,400-mile cables, which by fall will carry 36 simultaneous conversations, permit direct dialing by operators between Hawaii and 6,500 U.S. communities.

GAS INDUSTRY, now increasing its list of 30 million U.S. customers by almost 1,000,000 a year, will spend $2.13 billion on expansion this year v. $1.55 billion in 1956, is budgeting $8.7 billion for new facilities through 1960. Nearly half of money will go to extending gas-transmission facilities.

ECONOMIC CONCENTRATION is increasing, says Senate antimonopoly subcommittee. Its 18-month survey of latest Census Bureau figures shows that 50 biggest U.S. companies accounted for 23% of total value of U.S. manufactures in 1954 v. 17% in 1947. Top four automakers had 75% of auto and truck market v. 56% in 1947; top four appliance makers held 50% of market v. 36% in 1947; top four steelmakers held 54% v. 45%.

20% CABARET TAX will not be cut this year, although a House subcommittee voted unanimously to halve it. Bill will be bottled up in Senate Finance Committee until next year at least.

NEW PUBLIC-POWER DRIVE for harnessing atom will be pressed by Democrats in Congress. They want AEC to build and run $210 million worth of atomic power projects, thus set precedent for Government operation of atom plants for consumers. If program is blocked, Democrats threaten to stop some appropriations for AEC, hold up confirmation of newly named AECommissioners John Graham and John Floberg.

U.S. EMPLOYMENT hit 66.5 million last month, a new peak for June and just a shade below last summer's alltime record of 66.8 million.

FIRST POLAR FLIGHTS by U.S. airlines will start this fall. Pan American and T.W.A. will fly over the polar region from Los Angeles and San Francisco to Europe, while Pan Am will also fly via pole from Seattle and Portland, Ore. Scandinavia's SAS now is only line operating over polar route.

NATIONALIZATION THREAT faces Western Union, other international cable companies in France. Paris government is pushing to absorb these companies in its postal ministry, wants to collect as much as 50% of tolls on all international cables.

SOVIET PRODUCTION is increasing by 9.9% a year v. 4.4% for U.S., says House-Senate Joint Economic Committee. But gap between two countries is actually widening because U.S. advances are figured on much bigger base, and rate of Soviet increase is slowing down. Committee figures that Soviet industry is one-third size of U.S. industry, mostly because Soviet production of consumer goods is far lower.

WEST GERMAN INFLATION will be eased by 25% tariff cut designed to spur import of low-cost foreign goods, trim West Germany's $4.95 billion gold and foreign-exchange reserves, which are mounting at rate of $1 billion a year. To tighten domestic money supply the Bank Deutscher Laender (the government's central bank) will also lend $100 million to World Bank at terms of from one to three years at 4 1/4% interest.

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