Monday, Nov. 16, 1959
RENAULT SALES in the U.S. topped Volkswagen monthly total for first time in September, 9,439 cars to 8,654. But Volkswagen is still leading foreign-car seller for first nine months, with 82,755 cars to 65,244 for Renault.
CASH DIVIDENDS on common stocks listed on New York Stock Exchange rose to record high of $6.7 billion during first nine months, 5.4% higher than in same period in 1958.
U.S. IMPORT RECORD of $1.4 billion was set in September, bringing nine-month total to $11.3 billion v. exports of $11.8 billion.
FIRST TELEPHONE CABLES between continental U.S. and Puerto Rico are being laid under 1,250 miles of ocean, in joint project by American Telephone & Telegraph Co. and International Telephone & Telegraph Co., at cost of $17 million. Deepest cable in the world (five miles) will be ready for use in February 1960, replace current radio circuits and allow direct dialing for most calls.
JAPANESE PRODUCTION of 180 Lockheed F-104 Starfighters will begin in mid-1961 in Japanese plants. U.S. Government will be asked to contribute between 33 1/3% and 50% of $180 million cost of planes for Japanese defense.
GAS CUSTOMERS will increase to 44.5 million by end of 1970 v. 31.2 million in 1958, predicts American Gas Association. Industry expects its plant and equipment nearly to triple in value to $49 billion by that time and total sales to reach $11.8 billion, v. $4.6 billion in 1958.
ST. LAWRENCE SEAWAY traffic for year will total an estimated 6,600 ships carrying 20 million tons of cargo when it closes for the winter at end of November. This is 20% less than expected, because late spring thaw and steel strike cut shipments.
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