TRAIN TRIPS ON CUFF will be started for first time in U.S. railroad industry by Atchison, Topeka & Santa Fe on June 1. Passengers must pay 10% on minimum fare of $60, can pay off complete trips over periods up to two years.

RUSSIAN OIL must be refined by U.S. firms in Cuba under new order of Castro government. Standard Oil Co. (N.J.) and Texaco were advised that they will each be expected to refine 300,000 tons of Russian crude oil being exchanged for sugar.

NEW FORD STEEL process will cut its open-hearth-furnace production time in half, says company. Ford puts oxygen, fuel and burned lime into furnaces v. usual limestone. Steel industry is skeptical of the process' high costs, but Ford plans to put it into use by 1962.

TRANSISTOR-RADIO QUOTAS will be set by Japanese government on exports to U.S. in a move to head off U.S.-imposed restrictions. Japanese companies have asked for quota of 6,000,000 sets with three or more transistors and 2,000,000 toy sets with one or two transistors, about 2,000,000 sets more than 1959 exports.

ZECKENDORF'S Webb & Knapp has dropped plan to buy 20th Century-Fox's 267-acre movie lot in Los Angeles and develop it into $500 million "Century City," needs its cash for other developments. Kratter Corp., New York realty investment company, will pay $43 million cash for the property, build middle-income housing and shopping centers. Webb & Knapp still plans a 950-room hotel.

RED EXPORT LICENSES in first quarter rose to postwar high of $35.4 million, up from $30.5 million in last quarter of 1959. Products authorized for shipment included four helicopters for Premier Khrushchev. Now Government experts predict increased cold-war tensions will cause a drop in trade with Russia.

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