Time Clock, Aug. 30, 1954

TARIFF INCREASES on lead and zinc, recommended by the Tariff Commission, were rejected by President Eisenhower, who thereby spiked fears that his watch-tariff boost (TIME, Aug. 9) indicated a protectionist trend. To bolster U.S. mining, Ike announced a sharply increased stockpiling program for lead and zinc.

STOCK EXCHANGE SEATS are going up in price as trading volume expands. Last week one seat sold for $69,000, another for $70,000—almost double last November’s bargain-basement price of $38,000 and 30% above July’s price of $54,000. Lowest price in modern times; $17,000 in 1942; alltime high: $625,000 in 1929.

NORTHWEST AIRLINES has offered its presidency to Donald W. Nyrop, 42, ex-chairman (1951-52) of the Civil Aeronautics Board, ex-Civil Aeronautics Administrator (1950-51), now a Washington attorney.

TV ADS for beer and wine may be toned down, even prohibited (as liquor ads already are). House Commerce Committee formally censured beer-drinking scenes as “not in good taste,” suggested beer and wine industries cancel all TV advertising, called on broadcasters to report by Jan. 1 on what they have done to dry up drinking scenes.

DON’T-BUY-AMERICAN week was staged (without government sanction) in Switzerland by 3,000 watchmakers as a protest against the U.S. boost in watch tariffs. Some shopkeepers refused to sell American cigarettes, nylons or Coca-Cola.

M. LOWENSTEIN & Sons, among the six biggest U.S. textile companies, took over stock control of Wamsutta Mills, thereby diversified from cotton dress goods, shirtings, etc. into sheets, foam-rubber pillows, electric blankets. Lowenstein paid $9.50 each for 208,500 of Wamsutta’s 396,000 shares outstanding (v. $9.25 over the counter) and offered to buy more at the same price until Sept. 10.

PARTNERSHIP POWER dams may be approved for Idaho’s Clearwater River. Federal Power Commission has given Pacific Northwest Power Co. (a combine of four private power companies) a preliminary go-ahead on dams at Bruce’s Eddy and Penny Cliffs (combined capacity: 532,000 kw.; estimated cost: $320,351,000). In keeping with the Administration’s partnership policy (TIME, July 26), the Federal Government may share flood-control costs.

RUSSIA’S TRADE with the West will pick up. Under British pressure, 15 nations (including the U.S.) have agreed to lift export controls on crude and diesel oils, light machine tools, farm tractors, copper wire, air conditioners, mica, tungsten, some 150 other products. Still under embargo: 170 strategic items, including weapons, uranium and airplanes.

TITANIUM production should soon roll ahead. To boost output and lower prices (now $15 a lb.), the Eisenhower Administration authorized five year tax write-offs (v. the usual 25 years) for new plants that turn out finished titanium.

BUSINESS CENSUS will be taken early next year. With an unexpected $8,430,000 appropriation from Congress (TIME, Aug. 9), U.S. Bureau of the Census will poll 3,000,000 business firms to update government statistics on U.S. sales, manufacturing and mining.