Time Clock, Oct. 29, 1956

SMALL-BUSINESS LOANS will be speeded up by Small Business Administration to ease tight-money squeeze. S.B.A. now will allow its 15 regional directors-to approve credit up to $100,000 (v. $50,000 limit before), provided private banks put up 25% of the credit. Administration expects record 700 loan applications in October v. previous peak of 514 last June.

KOHLER CO., strike-bound for past 2½. years, has won round in its battle with Walter Reuther's U.A.W. N.L.R.B. examiner threw out unfair-labor-practice charges against Wisconsin plumbing-equipment maker because three U.A.W. trustees failed to sign non-Communist affidavits. However, full N.L.R.B. must still rule on case.

ANTITRUST COMPLAINTS are being filed by Federal Trade Commission against three of the biggest U.S. dairies (National Dairy Products, Beatrice Foods, Borden Co.) charging they eliminated competition by acquiring 251 smaller dairies since 1951. FTC also is investigating several grocery chains.

WEST GERMAN EXPORTS to U.S. are running 29% ahead of last year, reaching $301 million in first eight months of 1956. Some big gainers are rolling-mill products (up 145% in the first half), glassware (up 142%), semifinished textiles (up 88%), autos (up 86%).

NICKEL STOCKPILING will be halted on Jan. 1 for first time since Korean war. Office of Defense Mobilization thinks new sources of supply from Canada and Cuba will soon lick shortage of defense metal", already has big enough hoard to divert 25 million Ibs. of nickel slated for stockpile to private industry in fourth quarter of 1956.

SUEZ RATES for war-risk insurance on cargo passing through, canal are back down to pre-crisis levels. Minimum rates are now 10¢ per $280 of value v. 45¢ a fortnight ago and 80¢ just after non-Egyptian pilots quit in September.

TAX CONCESSIONS will be given to U.S. and other foreign businesses that open branches in Jamaica, which is following tax-exemption lead of Puerto Rico to encourage industrialization. All foreign firms will be free from income tax for first seven years. Jamaica-based service companies, e.g., transport, insurance, brokerage firms, will be permanently tax-free if they do not compete locally.

POWER PLANTS to meet burgeoning U.S. needs will require $94 billion investment by public and private sources over next 20 years, says Interior Secretary Fred Seaton. He estimates that in future 77 % of U.S. power expansion will come from coal and oil plants, from atomic plants and only from hydroelectric plants.

ATOMIC TRAIN will be built by Baldwin-Lima-Hamilton Corp., third biggest U.S. maker of locomotives. Baldwin has signed contract with Kidde & Co. Inc. to develop a nuclear reactor, will build engine for Denver & Rio Grande Western.

AIRLINE SUBSIDIES will be slashed to $44.5 million in next fiscal year, a 30% drop from the $64 million paid by U.S. in 1954, says CAB. It expects all U.S. transatlantic and transpacific lines to be in black and off subsidy by fiscal 1958, as well as domestic Northeast Airlines, still on subsidy.