STEEL PRICE RISE, widely expected by users when steel wages go up automatically July 1, may be delayed. Pace-setting U.S. Steel reportedly has put off a decision on prices for at least another month. Steelmen are under pressure to hold line because aluminum-makers cut prices despite scheduled wage increases.

1959 CHEVIES may have nylon tires as standard equipment. In secret test, G.M. has put nylon tires on 40,000 new Chevies this year, later will check owners to see how they perform. If they outwear the present rayon tires, Chevy plans switch to nylon, which would be heavy blow to rayon makers, who sell 36% of total output to tire industry.

RUSSIA'S AEROFLOT airline out-bargained little Denmark, won rights to fly over Denmark and on to West, which Russia needs before it can open service to Britain and, eventually, to the U.S. But U.S.S.R. turned down Denmark's bid for on-beyond rights from Moscow to Tokyo.

SUPER TRAVEL AGENCY combining regulatory powers of CAB, CAA, ICC, Maritime Board and Maritime Administration is being seriously considered by the Eisenhower Administration. Reason: existing agencies are bogged down in red tape, often cannot cope with modern transportation needs.

FAST-SELLING RAMBLER, which sped from twelfth to seventh place in car production during first quarter, will boost output 10% to 660 cars a day.

WHEAT SURPLUS will grow by about 200 million bu. this year because of huge crop that may wipe out all cuts made by soil bank since 1956. Output is expected to rise 25% over last year, hit 1.19 billion bu. Productivity of winter wheat lands will reach 21.9 bu. per acre, v. 15.9 bu. average over past decade.

FORD'S TOP BRASS will join with Wall Street's Lehman Bros, to form new open-end, i.e., unlimited shares, mutual fund. Lehman will underwrite and manage fund, will have it buy out Aurora Corp. (assets: $36 million), an investment firm owned largely by Ford executives. New fund, called One William Street Fund, will have Ford Chairman Breech and four other Ford veterans on 13-man board.

OIL EXPANSION by Socony Mobil will pump alltime-high $435 million into new equipment and exploration this year, up $14 million from 1957. About 65% will be spent at home, though Socony gets only 40% of its earnings in U.S. Company expects free-world consumption of oil to increase by at least 50% within decade and industry will have to invest $115 billion to meet it.

FIRST SUPERSONIC JETS for Japan will come from Grumman, whose Navy planes did the most to defeat Japanese airpower in the Pacific in World War II. For about $300 million, Japanese defense force will get 300 Grumman Super Tiger fighter-bombers, which broke records for speed (1,220 m.p.h. in level flight) and altitude (72,000 ft.). Most of planes will be made in Japan.

HELP FOR RAILS is expected from higher mail rates. Eastern lines demand 70% boost, which would stoke up revenues by $82 million a year, plus retroactive payments of $145 million. Post office has offered 15% raise that would bring rails about $17.5 million yearly. ICC will hand down decision this summer.

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