Time Clock, may 4, 1959

COPPER STOCKPILES, which Office of Civil and Defense Mobilization talked of selling, thus upsetting market, will not be sold, because of opposition by Western Senators.

J. P. Morgan-Guaranty Trust merger got final approval from Federal Reserve Board. New bank is fourth largest in U.S., has resources of more than $4 billion, capital funds of more than $500 million.

NET FARM-INCOME drop of about $1 billion to $12.1 billion in 1959 is forecast by Agriculture Department because of higher production costs and elimination of some soil-bank payments. Income is still expected to be well above 1957 low.

SHILLELAGH MISSILE, Army's newest—for close-in fighting, like its Irish counterpart—will be developed by Ford Motor Co. subsidiary, Aeronutronic Systems, Inc., under contract worth $23 million. Solid-fuel, surface-to-surface Shillelagh will be operational around 1965.

CORPORATE DIVIDENDS may reach $13.7 billion this year, up from $12.3 billion last year, predicts National Securities & Research Corp.

AIR MEALS TO ORDER will be started by Swissair. First-class and de luxe passengers will select from 36 specialties when tickets are purchased, get served in flight.

WATERPROOF MONEY will be issued by Japanese Finance Ministry to save $360 million face value in currency damaged each year by water. New notes will have synthetic resin mixed into pulp, will withstand the washing machine.