Monday, Mar. 23, 1959
CONSTRUCTION BOOM of $630 billion in next decade is seen by ARCHITECTURAL FORUM, building magazine. It predicts $75 billion a year in 1968, 53% over 1958.
BRITISH ATOM SUB reactor will be built by Westinghouse, first such reactor to be sent abroad. Westinghouse got contract because no British firms build the pressurized water reactor found best for subs. British firms have been concentrating on large generators for power stations.
NORTHROP AIRCRAFT will develop light, cheaper, all-weather fighter (N-156F) for allies under Air Force contract. Plane is simpler to maintain, easier to fly than standard U.S. fighters.
CASH DIVIDENDS of $387 million were paid out by U.S. corporations in February, $10.6 million more than February 1958. Managements have paid out $1.26 billion in dividends so far this year, up 2 1/2% from last year.
CAPITAL SPENDING on new plant and equipment in the U.S. will hit $32 billion this year, up 4.7% from 1958, noted the Department of Commerce and the SEC.
ALEXANDER L. GUTERMA won a round in his battle with the Securities and Exchange Commission when it rescinded the ban on trading in Bon Ami, a Guterma company. The SEC continued its suspension of F. L. Jacobs, another Guterma corporation.
ANTIFUNGUS PILL that combats athlete's foot, ringworm and other fungus diseases will be sold in U.S., if Food and Drug Administration approves, by Johnson & Johnson and Schering Corp. It was developed by Britain's big Glaxo Laboratories Ltd.
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