Monday, Jan. 21, 1957

TWO-CAR FAMILIES this year number about 14% of U.S. car-owning population, up from 3% to 5% in 1948. Detroit estimates total may jump to as much as 25% of car owners within a decade.

ATHABASKA OIL SANDS in Alberta, which have estimated reserves of 300 billion bbls. but have long defeated efforts to extract oil, will be developed by Canada's Royalite Oil Co., Ltd. Royalite will start building plant this spring to separate 20,000 bbls. of oil a day from sands with new centrifugal process, then add processing plant, town site for 1,400 people, and a 350-mile pipeline to Edmonton. Initial cost: $50 million.

U.S. FLOOD INSURANCE is expected to go on sale in May or June. Federal Flood Indemnity Administration has named 15-member committee from industry, agriculture to help smooth out problems facing its first substantial coverage, e.g.: Should $250,000 policy limit be applied to any company's total holdings, or to each separate facility owned by company?

CANDY-STORE sales are souring under increasing competition from chains, supermarkets, drugstores. Dun & Bradstreet survey shows average candy shopkeeper draws yearly salary of $3,551, has net profit of $102 on sales of $25,550. Almost half of owners are running "unprofitable operations."

NORTHEAST AIRLINES is finally airborne on its new Florida route, running daily New York-Miami round-trip coach flight with a DC6-A. Next week Northeast will also add a daily first-class flight on its Boston-New York-Miami run. The reservation backlog: about 7,000.

AUTO INSURANCE CHARGES are being investigated by the Senate's auto marketing subcommittee.

Probers are checking charges by the Better Business Bureau that some drivers over the age of 25 are paying the higher rates set for drivers under 25. Involved are the insurance subsidiaries of Commercial Credit Co., Associates Investment Co., Pacific Finance Corp., C.I.T. Financial Corp.

SUPERSONIC TALOS, Navy's top-rated missile for -long-range antiaircraft defense, will go into operational use within the next twelve months under the first big production contract. Navy has placed $27 million order with Bendix Aviation Corp. for surface-to-air missile capable of carrying atomic warhead, will step up weapon's 75-mile range to 100 miles. Cruisers Little Rock and Galveston now are being converted to carry Talos.

NEXT MODEL CHANGEOVER for Chrysler cars will be put off until 1960, with only minor face lifting scheduled in 1958 and 1959. Company is going back to normal three-year period for major change following two complete changes in past four years.

DIAMOND SHORTAGE is bringing price boost by South Africa's monopolistic De Beers syndicate. Retail diamond jewelry prices will rise about 10% this year, following 5% hike in 1956, and industrial diamonds will go even higher. Demand is outstripping supply largely because U.S., which buys two-thirds of world's diamonds, last year imported peak $159 million worth of gem diamonds.

SLAVE LABOR PAY will finally be handed out by I. G. Farben liquidators, who are breaking up the former German chemical cartel. After long, bitter battle in German courts, liquidators will pay some $7,000,000 to about 4,000 World War II forced laborers, many of whom now live in U.S.

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