Time Clock, Aug. 29, 1955

JET AIRLINER DECISION is expected to be made within a month by major U.S. airlines. Executives from United, T.W.A., American, Eastern and Pan American have reached the horse-trading stage with rival Planemakers Douglas and Boeing, are shuttling between the two firms dickering over prices and specifications on the Douglas DC-8 and Boeing 707. United President William A. Patterson has put spurs to both by stating that he will soon order 25 jets worth $125 million "from either Douglas or Boeing," depending on which has the better plane. Orders at stake: possibly 125 planes, worth $625 million.

MINE WORKERS have won the same basic $20 daily wage as workers in the booming steel and auto industries. The miners' John L. Lewis has negotiated a contract with the Bituminous Coal Operators Association, under which 120,000 northern miners (current wages: $18.25) will get their first pay boost in three years: $2 a day, with $1.20 of it going into effect this fall, the rest next April.

WILSON & CO., No. 3 of the meatpacking industry's big four, will shut down its Chicago meat operation, lay off 3,000 workers and abandon its 71-building plant scattered over 22 acres in the stockyards area. Main reason: because of improvements in transportation, refrigeration and communication, slaughterhouses are moving steadily closer to the range. To follow the trend, Wilson will spend $4,500,000 to expand and modernize plants in Omaha, Albert Lea, Minn, and Cedar Rapids, Iowa.

COPPER PRICES have jumped to 40¢ a lb.. the highest level in the U.S. since 1872. With the exception of Kennecott Copper, which boosted the price of Chilean metal only, the big companies (Anaconda, Phelps Dodge, and American Smelting & Refining) hiked prices of copper for the third time this year, for an overall 10¢-a-lb. increase since January. Reasons: 1) a 15½¢ wage boost given 35,000 U.S. copper workers after a 43-day strike, 2) a general increase in world copper demand.

BICYCLE TARIFFS are going up 50% to protect U.S. manufacturers from foreign competition. With imported bikes grabbing off nearly 40% of the U.S. market, President Eisenhower last week jacked up tariff rates from 7½ to 11¼% on popular, lightweight, large-wheel models, as high as 22½% on other foreign-made bikes. Estimated increase in retail prices to U.S. cyclists: up to $5 a bike. Increase in U.S.-made bike prices: none.

SYNTHETIC RUBBER is rolling at top speed now that private business has taken over the Government's 24 synthetic plants (TIME, May 9). With natural rubber prices soaring, demand for synthetics is so high that man-made rubber will total 60% of the market this year, has already hit 500,000 tons in 1955's first half, a 36% jump over 1954. Goodyear, Firestone, U.S. Rubber, Goodrich all have big expansion programs in the works.