U.S. PRODUCTIVITY per man-hour advanced 2.7% from fourth quarter of 1957 to this year's first quarter--double the gain of all last year--as companies cut marginal operations and workers hustled to hold jobs.

STRONG INVESTOR DEMAND caused Wall Street's Lazard Freres to boost initial offering for its new mutual fund from 2,500,000 shares to 8,500,000. Fund will invest about $117 million.

EXECUTIVE JOB OPENINGS have shown big rise in past few months, report top recruiting agencies in major cities. Companies are beginning to hire again in high brackets.

OFFICE RENTS JUMPED 5% in 1957, are still rising; but new construction may soon ease shortage and bring rents down again.

U.S. CIGARETTE OUTPUT reached a record 446 billion in year ending June 30, up almost 3%, and Agriculture Department predicts higher total in coming year. Consumption averages 120 packs a year per capita.

TROUBLED RAILROADS in East will get $60 million windfall in back mail pay, plus $32 million per year hike in rates. ICC approved 30% boost retroactive to last November, other increases retroactive to 1956.

RUSSIA'S INDUSTRIAL OUTPUT and that of its satellites topped rates forecast earlier by U.N., but West Europe's production declined, says U.N. Economic Commission for Europe.

U.S. OVERSEAS TRAVELERS prefer planes to ships by 3-to-1 margin, says new Commerce Department report. Last year's ratio: 1,066,000 by air, 303,000 by sea.

AMERICAN EXPRESS CO., fast moving into credit-card business, has picked up the 45,000-member Gourmet Guest Club, is dickering to get Esquire Club's 100,000 members.

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