$10 MILLION BET on success of Detroit's small cars was placed by Hertz Corp., which is buying 4,500 of Big Three's new models as a starter for its car rental service, will charge cheaper rates than for normal-sized cars.

HIGHEST INTEREST RATE since 1929 (4 3/4%) was offered by Treasury on two new, short-term issues, to attract public investors holding $5.7 billion in maturing securities with a 4% coupon.

MAN IN SPACE will be tracked by worldwide communications network to be managed by Western Electric Co. under $25 million U.S. contract. Part of Project Mercury, network is due to be finished in 1960, will monitor satellite's equipment, maintain contact with astronaut.

RUSSIAN WORK WEEK will be reduced to 42 hours in October for 6,000,000 engineering workers now on job 45 hours. They will follow 1,000,000 coal miners now on 42-hour week. Red leaders promise that all workers will have a six-day, 42-hour week by 1960, a 40-hour week by 1962, and a 35-hour week by 1964.

VOLKSWAGEN EXPANSION is

planned to meet rising European and U.S. small-car competition. Company will add $125 million in plant and equipment to boost daily output from 2,400 to 3,000 cars.

RAILWAY EXPRESS AGENCY will continue operation because New York Central, the largest stockholder, reversed a previous decision to withdraw. Broad reorganization plan to change the agency's payment method and improve traffic routing was unanimously approved by 178 member railroads.

FARM INCOME dropped in first half year by $1 billion from 1958 to annual rate of $12 billion, primarily because Government discontinued acreage-reserve payments.

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