Time Clock, Oct. 19, 1959

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NEW JET ORDERS worth $40 million were placed by Capital Airlines for seven Convair 880s and five Lockheed Electra turboprops, to begin service in mid-1960. To place orders, Capital arranged to stretch out payments of $37 million owed for its 57 Vickers Viscount turboprops.

CAR INSURANCE RATES will be cut 10% on compact cars by Allstate Insurance Co. because firm says small cars will cause less damage in accidents, have smaller glass area, and are cheaper to repair than big cars.

INDIVIDUAL SAVINGS will rise to $300 billion by early 1960, from $288.5 billion at end of last June. Long-term savings in life insurance, banks and Government bonds now average $5,500 for each U.S. household, v. $4,000 in 1950, only $1,700 in 1940.

ROUND-THE-WORLD JET service was started by Pan American with new long-range Boeing 707 Intercontinentals. Jet flying time from New York around the world to Los Angeles will be about 38 hours v. 66 hours on piston-engine planes. Actual elapsed time will be just over two days v. seven days when globe-girdling air service was started in 1947.

MOONSHINE WHISKY sales last year rose to record $1 billion, and 55,000,000 gal. moonshine production accounted for between 20% and 25% of all liquor consumed in U.S. Government's losses: $750 million.

LOW HOG PRICES will cut retail pork prices for the rest of 1959.

JAPANESE EXPORTS of optical products are squeezing Germans out of their market at home as well as overseas. One out of every six microscopes and field glasses sold in Germany now comes from Japan. Japanese optical imports to U.S. last year reached $10.8 million v. $2.5 million from Germany.