Time Clock, Apr. 11, 1960

CORPORATE TAX DIP threatens to kill hopes for balanced budget for current fiscal year ending June 30. Collections from industry are running $500 million below estimates.

JUSTICE DEPARTMENT is now studying talks between onetime New Dealer-Wheeler Thomas G. ("Tommy the Cork") Corcoran and three members of Federal Power Commission in a case involving Tennessee Gas Transmission Co. (TIME, April 4). Between 1954 and 1958, he collected $305,907 for legal services and expenses from the company.

NEW YORK-MOSCOW FLIGHTS by Pan American and Russia's state-run Aeroflot stand a good chance of approval in the near future. Reds have apparently been waiting until they had enough TU-114 turboprop transports for a regular schedule.

CUT-RATE RUSSIAN OIL will be imported by a Japanese company at prices about $1.50 per ton below Middle East crude-oil.

MEN'S CLOTHING PRICES will rise as much as $4 at retail next fall as a result of a 2½% hourly wage rise won by 125,000 Amalgamated Clothing Workers in 25 states.

PAY-TV TEST, first major one in U.S. to be broadcast instead of transmitted over a closed circuit, will be started in Hartford, Conn, on station WHCT, if FCC approves. Operators: Zenith Radio Corp. and the broadcasting subsidiary of General Tire & Rubber Co.