Time Clock, Jan. 25, 1960

STOCK INVESTORS stood a 60% chance of coming out ahead last year, if they bought shares at random on the New York Stock Exchange. Of issues listed on big board, 623 rose (most of them well over 10%), while 413 fell, most of them less than 10%. In all, 100 issues jumped 50% or more.

MUTUAL-FUND sales soared from about $1.9 billion in 1958 to record $2.3 billion last year, are expected to add another $2.5 billion in 1960.

TEN TURBINE HELICOPTERS, seating 25 passengers each, will be bought for $9,000,000 by New York Airways, with subsidy help that now runs $2,000,000 a year. Five of the twin-turbine Vertol 107 copters will start flying in spring of 1961, will boost line's annual capacity by 400% to 500,000 passengers.

FAR EAST TOURIST BOOM will lure 210,000 tourists to Japan this year (v. 152,000 last year), and 60% of them will be from U.S. Since jet service began to Japan, Pan American Airways' business on route has jumped 50%. This week airline will step up West Coast to Japan jet service from four to seven round trips a week.

GOVERNMENT-OWNED property, from missiles to dry-cleaning plants and post exchanges, is up to $265 billion. Total rose $2.5 billion in fiscal 1959 as U.S. put realistic values on gift property it had previously valued at nominal $1 per piece. U.S. owns 769 million acres of land—one-third of total in nation—worth $72 billion, with buildings.

CREDIT CARDS are spreading to dime stores. S. S. Kresge Co., the third biggest chain (after Woolworth, W. T. Grant), will offer charge plates in 68 Michigan area stores. Woolworth is also testing charge plates; Grant has introduced them in all its stores.

ATOMIC REACTOR for Puerto Rico, first in the Caribbean, will be built by AEC and used to train Latin American scientists. The 16,300-kw. boiling-water plant, costing $11 million, is scheduled to start operating near Rincón in three years.