AIR FARES will go up an average 3% to 4%. CAB ruled that lines may end 5% discounts on first-class round trips, cut family plan discounts from 50% to 33 1/3%, charge $2 extra for each stopover. But CAB warned that these boosts will be discontinued next July 31 unless lines cut other fares, e.g., by offering a cheaper tourist fare.

COMMUTER SUBSIDY will be tried by Philadelphia in six-month test. City council will give $160,000 to the Pennsylvania and Reading railroads. In return, rails will increase commuter trains to and from suburban Chestnut Hill, and pare one-way fare from 53-c- to 30-c-.

$790 MILLION OIL AID is soon planned for Argentina by U.S. investment group spearheaded by George E. Allen, presidential golf pal. Group plans to extend $170 million in credit to Argentina, will do $300 million worth of drilling and build $320 million worth of pipelines, producing facilities in Argentina. In U.S. group are Atlas

Corp., Petro-Atlas, Inc., Williams Bros. Corp. and Midcontinent Exploration Co.

ELECTRONICS OUTPUT in 1958 will show first drop in decade, to $6.9 billion from $7 billion last year. Commerce Department cites sharp first-half cut in consumer purchases of TV sets and radios. But strong second-half comeback is expected.

NEW CREDIT CARD will be offered by Chase Manhattan Bank, second-biggest U.S. bank (No. 1, Bank of America), for use in New York City retail stores. Card holders will be charged nothing if they pay all bills each month, but can delay payments up to five months for charge of 1% of unpaid balance. Retailers will pay 6% service fee to bank.

CIGARETTE SHIPMENTS, up 3.6% so far this year, rose to all-time high of 39.6 billion in August, topping earlier record 39.1 billion in August 1950, during Korean war.

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