Monday, Dec. 09, 1957

DIVIDEND PAYMENTS are rising in spite of worry over possible profits squeeze. In first nine months of 1957, cash dividends on New York Stock Exchange stocks hit record $6.4 billion v. $6 billion in same 1956 period. In all, 439 big-board stocks paid higher dividends than before, 430 paid as much, only 103 paid less.

WESTINGHOUSE COMEBACK is pushing 1957 sales near $2 billion (previous record: $1.6 billion in 1954). Net per common share will hit nearly $4 v. 10-c- in strike-troubled 1956. Consumer products sales are up, and defense contracts (Bomarc missile guidance systems, Polaris missile launchers) were unhurt by recent cutbacks.

THRIFT CLASS AIR SERVICE will be airlines' answer to CAB's request for cut in North Atlantic fares. New service would trim U.S.-to-Europe fares by 20%, but offer only sandwich-and-coffee meals, have 34 inches between seats v. 43 inches on tourist flights. Airlines at same time would boost tourist and first-class fares by about 9%, set London-New York rates of thrift class at $252; tourist $315 (up from $290), first class $435 (up from $400). But CAB frowns on "austerity service" and higher rates, may veto plan.

BIG SHIPBUILDING ORDER will be placed by U.S. Steel Corp.'s Pittsburgh Steamship Division, which plans to spend about $100 million on twelve 20,000-to 25,000-ton Great Lakes ore carriers, several of which would outstrip the largest iron-ore ship now on the lakes--M. A. Hanna Co.'s 23,000-ton George M. Humphrey.

U.S. ROAD PLANNERS have already pumped $1.4 billion into contracts for building 41,000-mile federal highway net. Another $924 million is set aside for roads still in the blueprint stage, and $932 million has gone into preliminary engineering and buying rights of way.

EUROPE'S COMMON MARKET is running into opposition from free nations in Africa, Asia and Latin America. At annual meeting of 37-nation General Agreement on Tariffs and Trade (GATT) these countries protested because common market plans to eliminate tariffs on imports from its own members' overseas territories, but maintain steep tariffs on other imports. Thus, French and Belgian territories in Africa would get much of the brisk European tea, coffee and cocoa trade now dominated by India, Ceylon, Indonesia, Brazil, Ghana.

TV DEBUT will be made by National Theatres, second biggest U.S. movie-house chain (after American Broadcasting -Paramount Theatres, Inc.), whose 320 houses are being hurt by video competition. For $7,600,000 it will buy Kansas City Star's WDAF-TV and WDAF-AM, which U.S. trustbusters forced the Star to sell on grounds that it was monopolizing city's news.

ROBOT BAG-FILLER for supermarkets is being tested by Kroger Co. to end bottlenecks at check-out counter. The ideai bag lies on side next to cashier, and conveyor belt slides groceries into bag. When full, bag pops upright, is ready to be carried away.

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