FAIR TRADE LAWS in states will not be enforced by the Federal Trade Commission. In its first official stand on the state laws, the FTC has refused to enforce the laws against discounters in the jewelry industry, has told complaining retailers that they can compete with discounters by ignoring "with impunity" the state Fair Trade laws wherever they are not diligently enforced.

FIRST NUCLEAR REACTOR for the Air Force is in operation at Convair's Fort Worth plant. While mum on what the reactor is being developed for, Convair is aiming at something besides an atom-powered bomber. All the Air Force will let Convair say is that its engineers "are working toward the adaption of nuclear energy to the development of other weapons systems."

STOCK GAINS in the next two years may push the Dow-Jones industrial average as high as 500, nearly a 25% rise, predicts FORTUNE. Barring war and no recession worse than the 1953-54 slump, stock dividends will jump 48% by 1957, and 65% (to a total of $16.5 billion) by 1959. Gross national product will soar an estimated 16% to $440 billion in the next four years.

AIRPORT PLAN for New York's International Airport at Idlewild will turn it into the world's most modern terminal, capable of handling 140 airliners at one time. To cost $60 million, the project calls for a 655-acre "Terminal City" with an eleven-block-long arrival building, two adjacent wing buildings, seven individual airline terminal buildings, plus a maze of taxiways and aprons. First buildings will be ready for their first passengers early in 1957.

NEW CERTIFIED MAIL system will start soon unless the Post Office Department gets serious objections from the public. To supplement current registered mail (minimum charge: 30O, new system will use a special 15-c- stamp to entitle senders to a receipt proving that the letter was mailed. The post office will file a delivery receipt and give one to the sender for an extra 7-c-. Letter writers who want insurance will have to pay registered-mail rates as before.

HELICOPTER COMPETITION to give the Army a new whirlybird was won by Bell Aircraft over seven other firms. Bell will get a development contract for a lightweight utility helicopter with cruising speed of 115 m.p.h. which can be used to evacuate wounded.

TIRE PRICES are going up again for the third time since November. B.F. Goodrich has just boosted all passenger and truck tire prices another 2 1/2% to 5%, and the other big producers will probably soon follow suit, thus making the total price rise 15% since last fall. Reason: heavy demand, which has sent natural rubber prices up from 27 5/8-c- to 35-c- a Ib. since Dec. 1.

LORD & TAYLOR moved in on staid Philadelphia this week with all the whistle and whee of a Hollywood premiere. To open its new suburban branch, Manhattan's Lord & Taylor decorated its store entrances with 75,000 dogwood blossoms plus immense, palpitating pink velvet hearts inscribed "Lord & Taylor Just Loves the Land of Brotherly Love," and prepared to spray all visitors entering its doors from a 10-gal. (1,280 oz.) tank of Shalimar perfume costing $20 an oz. retail.

FREE RICE for school lunches will be distributed by the Government because of increasing surpluses. As a starter the Government has already sent 139 carloads to nine southeastern states for distribution to schools and institutions.

SOCONY-VACUUM OIL CO. will follow Esso Standard Oil Co. (formerly Standard Oil of New Jersey) in changing its name to reflect the trademark on its products. The company will change to Socony Mobil Oil Co., Inc., to tie in with its Mobilgas, Mobiloil, Mobilheat products.

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