Monday, Sep. 15, 1958
NEW FOOD LAW will raise barriers against additives that color, flavor, preserve foods. Before foods can be sold in future, producers must prove to Government that additives are safe; in past, burden of proof was on U.S. to show that they were unsafe.
RAIL-FARE BOOSTS of 15% for first class and 5% for coach are planned by Pennsylvania and New York Central lines on Nov. 1, when automatic 7-c- hourly wage increases take effect. If ICC approves, this would be third general fare raise in less than two years.
COSTLIER AIR TRAVEL is in the wind. American Airlines, nation's biggest, has petitioned CAB to end first-class roundtrip discounts, reduce family-plan discounts from 50% to 33 1/3% effective Oct. 20.
AIRLINE COMPETITION is cutting market for U.S. carriers on North Atlantic run. Last year, for first time, Pan Am and T.W.A. carried less than 50% of total traffic on route; in first six months of '58 they dropped back to about 40%.
AIR SAFETY will take major step forward this fall as Air Force and CAA in 31 cities begin to share their radar equipment to keep tabs on military, civilian planes alike.
FOOD PRICES are down to year's low at wholesale. Shopping basket of 31 basic foods (1 lb. of each) costs $6.39, down from April high of $6.72.
ATOM PLANE ENGINE, proved a success in tests, has been run for 230 hours by General Electric. Engine is started by gasoline, but reactor power then takes over.
GOLD OUTFLOW from U.S. in 1958 has topped $1.76 billion, more than any full-year drop in nation's history. Movement is caused by recent recession, slump in exports, investors' flight from dollar.
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