Time Clock, Jan. 26, 1959

GAS TURBINE ENGINES will be sold by G.M.'s Allison Division for testing in trucks. Two of the biggest problems, high cost and fuel consumption, are almost whipped. Allison says high-power gas turbines now can be mass-produced "at a price no higher than for equivalent" gasoline or diesel engines, and that a big power plant, e.g., 500 h.p., turbine costs less to operate.

JET FARE BOOST is approved by CAB. On flights due to start next week between New York and Los Angeles, American Airlines will charge $194 (counting tax) first class, v. $183 on piston planes. CAB is studying increases on tourist fares.

DEBT-CEILING RISE, above "temporary" limit of $288 billion, will be requested of Congress again this year, Treasury Secretary Anderson says. President expects debt will swell to $285 billion at year's end, and "there will be a substantial temporary increase during the year," which will necessitate rise in ceiling.

FORD MOTOR CO. will start its own car-financing company. Ford had financing arm from 1928 to 1933, sold it for $30 million to what is now C.I.T. Financial Corp., which does most of Ford's new-car financing.

ANTISMOG MUFFLER, developed by Inventor Eugene J. Houdry and Pennsylvania's Oxy-Catalyst, Inc., chemically removed up to 90% of auto's unburned exhaust gases in road tests by General Motors.

UNITED AUTO WORKERS union is in red, has cut budget $425,000, will sack several staffers.

TRANSISTOR PRICE CUTS of 5% to 60% are coming from Philco. Company says its new automated production line is three times faster, making radio transistors competitive with vacuum tubes.