Time Clock, Jul. 21, 1958

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1958 HARVEST will equal last year's record despite crop controls, will create bigger stockpiles and raise Government farm costs. Wheat and soybean production will grow to new high, though cotton and corn will drop a bit.

STUDEBAKER-PACKARD reportedly will drop Packard from production because slow sales held output in past six months to mere 1,546 cars. It is expected to concentrate on small cars that will be low-powered (starting at 92 h.p.) and 3 ft. shorter than Ford, Chevy or Plymouth.

AUTO-LABELING LAW, signed by President Eisenhower, provides that each 1959 car carry tag telling model name, final assembly point, means of delivery to dealer, manufacturer's suggested retail price for auto and extras.

KAISER, WILLYS passenger cars are rolling again—in South America. In Argentina, Henry Kaiser this year expects to turn out 2,500 cars similar to his 1955 Manhattans. In Brazil, Kaiser's Willys Motors plans to produce 20,000 passenger cars a year by 1961, will get $2,500,000 loan from World Bank's International Finance Corp.

ROBERT YOUNG ESTATE totaled $8,367,237 excluding real estate, more than $2,000,000 above estimates following railroader's suicide (TIME, Feb. 3-10). Among his assets: some $5,750,000 in stocks, $1,575,000 in notes payable to him, $470,000 in bank accounts.

MINING SUBSIDIES of $155 million for depressed copper, lead, zinc, tungsten and fluorspar (TIME, May 19) passed Senate by such a high margin (70-12) that bill stands good chance of riding through House and becoming law this summer.

HAMILTON WATCHES will be assembled in Switzerland to take advantage of lower Swiss wages (one-third the level of U.S. wages). Swiss watch cartel voted to admit Hamilton, first firm to come in since cartel was started in 1934 (other U.S. watchmakers, e.g., Bulova, Benrus, began producing earlier in Switzerland).

GREYHOUND CORP., biggest intercity bus operator, is riding rough road. Firm slashed payrolls to counter first-quarter loss of $1,000,000-plus, caused largely by bad weather and heavy depreciation costs.