STEEL PRICE BOOST of $5 to $7 a ton is coming in July. Steelmen are resigned to rise even if demand remains soft. One major reason: steelworkers' wages go up automatically July 1, and they will get additional hike if cost-of-living rise continues.

AUTOMOBILE TV for back-seat passengers is being readied by Oldsmobile, which hopes to offer it as optional equipment on 1959 models. Set has 9-in. screen, fits into holder behind front seat, but can be removed for viewing outside car.

DEFENSE CONTRACTS written during calendar 1958 will spurt to $23.2 billion v. estimated $17.5 billion worth in 1957, says Defense Department.

SOVIET ECONOMIC offensive may cause U.S. to trim interest rates on foreign loans drawn from new $300 million Development Loan Fund (TIME, Sept. 30). Administration is considering reduction of its 3%-to-4% charges to match Reds' rates of 2%-to-2 1/2%.

LAGGING EDSEL SALES are shaking up Ford's high command. Vice President James J. Nance, 56, who formerly bossed Studebaker-Packard, will slip into driver's seat at Edsel division. It will be merged into the Lincoln-Mercury division, which he also heads.

LOWER FARM PRICE supports and higher acreage allotments will be asked of Congress by Secretary Benson. He wants authority to boost acreage for basic crops by as much as 50%, and to set price supports between 65% and 90% of parity (current range: 75% to 90%).

LITTLE-BIG INCH PIPELINE will start carrying oil instead of natural gas from Gulf Coast to East. FPC examiner approved bid by Texas Eastern Transmission Corp. for conversion after Texas Eastern agreed to compromise terms laid down by competing barge operators, who have been fighting switch.

ALASKA OIL LANDS in Kenai moose range will finally be opened for exploration. All oil leasing has been suspended by U.S. since Richfield Oil Corp. made Alaska's first big oil strike in Kenai last summer. Now Interior Secretary Seaton says U.S. authorities "are very close to agreement on additional areas" to be opened for oil search under stiffer rules for preserving wildlife.

WORST FLORIDA WINTER in this century has taken $55 million bite out of state's citrus, vegetable and flower production. Heavy snow wiped out half of crop in Dade County (Miami), but growers hope to recoup by pushing up prices.

NEW ENTRY in field of solid rocket fuels, Astrodyne, Inc., will be formed as joint subsidiary of North American Aviation, Inc. and Phillips Petroleum Co. Astrodyne hopes to produce fuels to outdo those used in North American's liquid-propelled engines for Atlas, Thor, Jupiter missiles.

RUST-FREE BARBED WIRE, coated with aluminum, will be brought out by U.S. Steel Corp., an answer to cheaper foreign imports, which have won 50% of $19 million-a-year domestic market.

DEBT MORATORIUM has been declared by British creditors of low-flying Capital Airlines for January-March period. Capital has been paying $1,000,000 a month on $70 million debt for its 60 Vickers Viscount turboprops. But company lost about $2,000,000 on its 1957 operations because of rising costs, got payments delay to tide it over slack winter-travel season.

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