Time Clock, Feb. 24, 1958

JETS TO EUROPE will start flying this fall, months ahead of schedule. Production of 600 m.p.h., 124-passenger Boeing 707-120s is moving so iast that Pan American World Airways will put three planes in service from New York to London (flight time: six hours) and Paris perhaps as early as October.

CHEAPER AUTO LOANS are expected. As a start, to finance inventories, big lenders have lopped ½% to 1% off loans to dealers: General Motors Acceptance Corp. rates are down to 4½%; C.I.T. Financial Corp.'s to 5½%. Result: dealers' operating costs are lower, and retail buyers may drive harder bargains.

FORD VICTORY in hot 1957 auto sales is official. It nosed out Chevrolet for first time in 22 years, 1,493,617 to 1,456,288.

ANDREA DORIA SUITS will be settled out of court for about $6,000,000. Two companies involved in 1956 sea disaster—Italian Line and Swedish American Line—have pared c-aims from original total of $116 million, expect to clean up most payments soon.

RED TRADE EMBARGOES will be eased again. Western Europe and Japan want restrictions loosened on metalworking machinery and equipment for chemical, oil, power and electronic industries. U.S. is expected to bow to pressure.

PAY-TV test is fizzling in Bartlesville, Okla. in major experiment. With subscribers to shows via coaxial cable down from December's 580 to 300, sponsoring Video Independent Theatres will drop prices from $9.50 to $4.95 a month.

AUSTRALIAN TRADE with Japan is looking up after years of bitter enmity. Chances are good that Japanese will land contracts for two Australian dams, one power plant, and two water-diversion tunnels.

EDSEL SALES of more than 5,500 in January topped December by 18%.