PHONY TV ADVERTISING will come under closer watch by the FTC and the Justice Department. They have agreed to tighten prosecution against deceptive commercials in the food, drug and cosmetic fields. Convicted advertisers would face criminal penalties of up to $5,000 and six months in jail for a first offense. Second offenders would face a year in jail and a $10,000 fine.

TYPEWRITER IMPORT BAN is sought by U.S. typewriter manufacturers. The Tariff Commission will investigate a petition from Smith-Corona Marchant and Royal McBee asking for a duty of 30% ad valorem per foreign machine, with a minimum fee of $10. Main reason: imports account for a disproportionate 30% of the U.S. market.

RECORD SWIM-POOL SALES in 1959 added 62,000 pools to the 184,000 already installed in the U.S. Two-thirds of the new pools are residential.

LIFE INSURANCE COMPANY assets will climb to a record peak of $113.6 billion by the end of the year, up $6 billion from last year's high.

CHANCE VOUGHT AIRCRAFT, hard hit by defense cutbacks, will become a major maker of mobile housing units. It bought two house-trailer manufacturers, General Coach Works, ABC Coach Co., and will add a third, Mid-States Corp. Three firms' combined 1959 sales: $60 million.

FIRST ALUMINUM freight cars started service for the Southern Railway System. The cars are lighter, cheaper to operate; Southern has ordered 1,205 for some $24 million.

PROJECT MERCURY, which will rocket a man into space, will cost $100 million more than the $250 million that the National Aeronautics and Space Administration originally estimated. Increases are for more expensive capsules, boosters, and a bigger range of operations.

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