SMALL STATION WAGON will roll out from American Motors this fall with same 100-in. wheelbase as smallest Rambler. Wagon will be about 3 ft. shorter than most other models. Price: roughly $2,000.

JET SWAP is being negotiated by Pan American and National airlines. Pan Am plans to lease at least one of its Boeing 707s to National every winter, when National's Miami business picks up. National would lease DC-8s to Pan Am in summer for busy North Atlantic route. Deal would allow National to make three jet round trips daily to Miami during coming Florida season, race ahead of competing Eastern and Northeast with first pure jets on route.

NEW CREDIT CARD for restaurants, shops, car rental, etc., round the world is planned by Hilton Hotels. Corporation already has 1,000,000 holders of credit cards used in Hilton's 33 hotels alone, last year did $60 million business with them.

GOLD FUTURES TRADING is growing brisk for first time in U.S. as some speculators bet that gold price will be boosted from $35 per oz. U.S. traders buy 90-day gold futures from British and Swiss, pay 2% premium. British and Swiss sell short, i.e., borrow gold to sell to U.S. traders, because they figure chances of price rise are dim. Trading volume runs close to $1,000,000 a week.

IRON CURTAIN AIRLINES are moving into Middle East. Czech State Airline started regular Prague-Cairo flights with Russian-built TU-- 104 jets.

SOVIET STEEL PRODUCTION spurted 8% to 30 million tons in first half of 1957, world's biggest gain by far, says U.S. Commerce Department. Meantime, other nations held fairly steady, except U.S., which plunged 37% to 38 million.

FIRST FLORIDA PIPELINE for natural gas will open within a year, serve 2,000,000 at first. The Houston Corp. of St. Petersburg is starting construction of the $161 million line, snaking 1,500 miles from Texas Gulf Coast to south of Miami.

U.S. AIRWAYS CZAR to control jet-age traffic will be either CAA administrator James Pyle or President's aviation adviser, Lieut. General (ret.) Elwood Quesada. Commerce Under Secretary Louis Rothschild sorely wanted job, but airmen protested he was too close to rail interests.

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