Monday, Sep. 28, 1959
FORD STOCK SALE has been postponed by Ford Foundation, which planned to market 2,000,000 shares worth $160 million at current market prices. Final decision by foundation, which owns 34,132,239 shares, or 62.2% of all Ford stock, will not come until at least November.
DRINKING ON PLANES will be curbed by Federal Aviation Agency. New rules will bar drinking from private flasks aboard airliners, forbid hostesses to serve whisky to passengers who appear "intoxicated."
MCDONNELL AIRCRAFT CORP. will get new contract for more than $100 million from Navy for Phantom II jet fighters, a carrier-based supersonic (Mach 2 plus) plane.
AIR-FARE CUTS on Pacific and round-the-world flights will be proposed by Pan Am at meeting of rate-setting International Air Transport Association. Britain's government-owned airways also favor fare cuts, and sentiment is growing to establish economy fares, now confined to North Atlantic flights, on all international runs.
TYPEWRITER MARKET is being captured overseas by West Germans, whose rugged, low-priced machines now account for one-third of all typewriter sales. U.S. makers, who had 50% of world market before World War II, have only 10% today.
IMPORT CURBS against Japanese transistors and semiconductors are being pushed by U.S. electronics companies on grounds that imports are a threat to U.S. security. Japanese transistor imports last year reached 26,736,000, v. 560,000 in 1956.
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