Time Clock, Feb. 16, 1959

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SHARP PRICE CUTS are coming this year for high-grade beef. Ranchers, who held back their cattle last year to build up drought-depleted herds, have boosted cattle population to alltime high 97 million, are ready to bring them to market.

CREDIT CARD BASEBALL will be served by Diners' Club. It signed Chicago White Sox to permit cardholders to charge tickets, is dickering with other major league clubs.

TOP PILOT PAY of $33,000 a year will go to jet captains flying maximum of 85 hours a month for Pan American World Airways, up from current ceiling of $25,000 for DC-7C skipper. New Pan Am contract also puts three pilots plus flight engineer in jets.

MANHATTAN SKYSCRAPER hotel, 48 stories tall with six stories of offices and 2,000 rooms, is planned by Builder William Zeckendorf for site across from Radio City on Avenue of the Americas at 51st St. The $66 million building is slated to start in fall, finish in 1961. Name: the Zeckendorf.

"FRAUD AND DECEIT" is charged by SEC against Reynolds & Co., one of biggest brokerage houses. Chief charge in hearings opening this week: a few Reynolds employees in California touted cheap mining stocks that later slumped. Reynolds expresses "surprise and shock" at case; the men under fire are no longer with firm.

FOREIGN BIDDER won a major Tennessee Valley Authority contract to build turbogenerator near Tuscumbia, Ala. Award went to England's C. A. Parsons & Co., Ltd., which bid $12,095,800, v. General Electric's low domestic bid of $17,563,000.

AUTO PRICE-TAG LAW, a sense-making statute requiring that list price be posted on all new models, is being sternly policed by FBI, which has arrested several dealers who removed the labels.

TRADING-STAMP BAN has been passed by Wyoming legislature, goes to Governor Joe Hickey for his approval or veto. Stamps are outlawed in Kansas and District of Columbia; other states have statutes that discourage use of stamps.