CIGARETTE SALES are climbing higher than ever. In the first seven months of 1957, smokers puffed 240.5 billion cigarettes, 5.6% more than the same period last year. July sales in U.S. alone jumped 13.5% over 1956. For third quarter, R. J. Reynolds (Camel, Winston) says earnings will be "considerably ahead" of last year, Philip Morris expects a 5% to 10% sales gain, P. Lorillard (Old Gold, Kent) also anticipates a rise.

FARM-EQUIPMENT SALES this year will rise 5% to 15% above 1956, and makers expect a fast fourth quarter followed by a strong market through next year. Reason: prices received by farmers are running about 3% ahead of 1956's; crop prospects for this year are also bright.

FOUR-DAY WEEK "is not a sound thing to consider at this time," says Labor Secretary Mitchell, who writes it off as "just a bargaining point" for labor. Reasons Mitchell: by 1965 U.S. gross national product must jump 40%--to $560 billion--to supply goods to expected population of 193 million. For this, nation will need 10 million more workers, and since labor is short, a four-day week would be "to the detriment of the full use of our resources."

WORLDWIDE INFLATION is cutting into the $8.9 billion International Monetary Fund, which makes loans to bolster shaky currencies. With demand rising for IMF credit, Fund Boss Per Jacobsson wants to put bite on IMF's member nations to boost their contributions 30% to 35%. If raise is okayed, U.S. will have to add $1 billion to its quota of 2.75 billion.

BOEING AIRPLANE CO. has opened a wide lead in race among planemakers to put first jet transport into commercial service. So far, its 600-m.p.h., four-jet 707 is ahead of competing Douglas Aircraft's DC-8 in hours of test flying, firm orders (155 v. 123), expected delivery dates (late 1958 v. mid-1959). But Douglas will try a new angle to catch up. Instead of test-flying one plane, as Boeing has, Douglas will send up first eight or nine DC-8s for 60 hours or more each, thus hopes to accumulate enough flight time to get CAB certification quickly.

DWINDLING RESERVES are pinching Texas Gulf Sulphur Co., industry's longtime leader, which still supplies almost 50% of annual world market of 7,000,000 tons. Company has abandoned its offshore drilling lease in Gulf of Mexico, is slashing prices by 10% to fight competition. Result: Texas Gulf stock has slumped 36% in past year, and second-half earnings are expected to slump well below past years.

BIG PLANE ORDER will soon be awarded by United Air Lines, which will replace its short-haul fleet of 54 piston-engine Convairs with turboprops or jets at cost of about $150 million. Company is leaning toward Lockheed's 410-m.p.h. Electra turboprop.

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