HIGH DIVIDENDS are in sight for 1958, will probably match last year's record, predicts Standard & Poor's. For the year, it expects a "moderate" drop in after-tax profits from the $20.5 billion estimated for 1957. But S. & P. also figures that many U.S. companies will now be able to give a bigger share of their profits to stockholders because they will have less inventory and expansion costs.

STRIPPED-DOWN MERCURY, to be named the Medalist, will be brought out by Ford Motor Co. this month to buck increasing sales competition from fancier models of the low-priced three. Suggested list prices: $2,324 for two-door sedan, $2,390 for four-door--about $100 cheaper than lowest-priced Mercury models now on sale, and less than Ford Fairlane.

MERGER-BUSTING POLICY will be pushed by FTC to stop what it considers to be growing concentration in some industries. As a start, FTC ordered Crown Zellerbach, No. 2 U.S. papermaker (after International Paper), to sell St. Helens Pulp & Paper Co., which it bought in 1953. This was first time FTC invoked amendment to Clayton Antitrust Act that forbids merger which may create monopoly in just a single line of commerce. (The "line" in this case is the coarse-paper market in eleven Western states.) Crown Zellerbach will appeal to courts.

LEADING CONTENDER for $500 million supersonic fighter contract for 300 jets for West German air force is Lockheed's needle-nosed F-104 Starfighter, with Grumman's swept-wing Tiger and France's delta-wing Dassault Mirage close behind. Germans turned down Britain's experimental Saunders-Roe 177.

TRAIN PASSENGERS in the East will start paying 5% more for tickets forthwith. ICC granted boosts to eleven Eastern roads (including the Pennsylvania and New York Central), raised coach fares from 3.7-c- per mile to 3.9-c- (v. airlines' 5.3-c-per mile on U.S. flights).

STEEPER AIR FARES are almost assured for 1958. CAB's problem is when and how to grant raise without raising ire of Congressmen who opposed boost. Majority of board is convinced that present rate scale, little changed in ten years, cannot support lines in jet age.

LIFE INSURANCE sales will top $70 billion in 1958, beating last year's record $66 billion. Institute of Life Insurance figures that U.S. companies will have at least $500 billion in life policies on their books by year's end. Average U.S. family now has $8,300 worth of life coverage.

BILLION-DOLLAR CLUB will be joined by R. J. Reynolds Tobacco Co. (Camel, Winston, Salem), 43rd U.S. company to enter. Reynolds' sales in 1957 topped $1 billion for first time, due largely to Winston. But Reynolds is still trailing the $1.1 billion American Tobacco Co. (Lucky Strike, Pall Mall, Hit Parade).

NEW HELICOPTER RECORD for altitude was set by Cessna YH-41 whirlybird, piloted by U.S. Army flyer to altitude of 30,335 ft., topped previous mark of 26,391 ft. established in 1955 by French SE Alouette.

This file is automatically generated by a robot program, so reader's discretion is required.