Time Clock, Jun. 29, 1959

HOME-BUILDING BOOM will continue during second half of 1959, may be equal to or better than first half when private housing starts ran at annual rate of close to 1,400,000. For first five months of this year, private-housing starts totaled 558,400 v. 396,700 in 1958.

MERGER TALKS between General Dynamics Corp. (1958 sales: $1.5 billion) and Material Service Corp., Chicago building products supplier (1958 sales: $115 million) are on again, appear more promising than last year, when talks broke down over basis of exchange of stock.

UNITED MINE WORKERS paid $438,000 in damages for violence in trying to organize Meadow Creek Coal Co. of Montgomery, Tenn. Action has spurred other mine operators to sue for $6,000,000 in damages, and additional suits totaling $7,000,000 are expected soon. To meet assault on its $21 million treasury, U.M.W. assessed its 190,000 members $20 each.

MEN’S SHIRT PRICES will be boosted about 6% next month by Manhattan Shirt Co. on big-volume, $4 shirts. Other major makers are expected to follow move in industry’s first major price boost on brand-name, medium-priced dress shirts since 1952.

EX-TEAMSTER BOSS Dave Beck was indicted by federal grand jury with Roy Fruehauf, president of Fruehauf Trailer Co., and Burge Seymour, president of Associated Transport, Inc. Government charged that $200,000 loan from Fruehauf’s and Seymour’s companies violated Taft-Hartley Act. Maximum penalty: a year in jail and $10,000 fine.

THREE-STAGE FILTER cigarette is being test marketed by Philip Morris, Inc. Called Alpine, new mentholated smoke has two filters separated by air chamber. Smoke passes through first filter, is cooled in air chamber, then passes to final-stage filter.