AUTOMAKERS decided that their 1,700,000-car goal for 1954's first quarter was too optimistic, will probably miss it by at least 12%. Both Ford and Chevrolet have announced "slight" production cuts; Plymouth, already cut back 20%, will drop another 10% and lay off 8,650 more workers. Biggest reason: high dealer stocks of unsold 1953 models.

GENERAL Electric has decided that CBS's newly patented color-telecasting camera (the "Chroma-coder") is so good that it has made a deal with CBS to manufacture it under license. The deal points up CBS's fast progress in compatible electronic color since the failure of its mechanical spinning disk system.

RICH new ore deposits have been found by the Union Pacific Railroad, 25 miles northeast of Laramie, Wyo. Proven reserves are at least 50 million tons of iron, 12 million tons of titanium, and possibly 2 million tons of vanadium, used for strengthening steel. U.P., which owns or controls 60% of the claims, will run in a spur line to the deposits.

TOBACCO habits of 300,000 holders of World War I life insurance (age 50-65) will be surveyed in questionnaires by the Veterans Administration and the U.S. Public Health Service. The questionnaires will be kept on file, and as the veterans die, PHS will try to determine any connection between their tobacco habits and the cause of death.

Since about 5,000 deaths a year are expected, it will take two years before any significant results are in.

BOEING'S jet transport, first in the U.S.. will be unveiled next month. The $20 million, 120-passenger, four-engine plane will get its engines and instruments installed by June, make its maiden flight some time in August.

US. oil firms have been granted antitrust immunity so that they can combine in working out a solution to the Iranian oil problem. The action, taken with approval of the National Security Council, may prove embarrassing to the Department of Justice, which is pushing an antitrust civil suit against the five biggest oil companies--Standard Oil (N.J.), Texas Co., Standard Oil of California, Gulf, Socony-Vacuum--on charges of conspiring to engage in an international oil-marketing cartel.

PRICE-cutting in synthetic fibers is turning into a full-fledged competitive war. For the second time within a month, Du Pont cut its prices 10% to 16% on nylon, Orion and Dacron, lowering them $1.48 to $1.80 a Ib. Chemstrand Corp., which makes Acrilan at $1.40 a Ib., will probably also cut prices to keep its competitive edge.

SURPLUS military goods valued at $10 billion will soon go on the block in Operation Clean Sweep. Some $8 billion of this is considered strictly military equipment that the armed forces will either junk or dispose of to foreign countries, but $2 billion worth is civilian-type merchandise. The General Services Administration wants to offer the material to other government agencies first, then to the public. But the Defense Department, needing space for new equipment, wants to clean out its warehouses in public sales.

HIGHWAY construction in the 48 states during fiscal 1955 will get the biggest boost in history from the U.S. Government. Grand total planned for such projects as expressways in New York, Philadelphia, Detroit and Chicago: $555 million.

WILDCATTING for oil in the Egyptian desert is expected to begin soon. The Egyptian government and Conorada Petroleum Corp.

(jointly owned by Amerada Petroleum, Continental Oil Co. and Ohio Oil Co.) have reached agreement on a deal giving the company exploration rights in the western desert area for twelve years. Conorada will pay nothing for the rights, but has agreed to spend $50 million looking for oil.

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