Time Clock, Oct. 3, 1960

BIG TRACK WINNERS will be checked by Internal Revenue Service to make sure they pay income taxes. Race tracks were ordered to report names and addresses of all winners of $600 or more in daily double and other pool bets.

FARM PRICE SUPPORTS cost U.S. $795 million for fiscal year ending June 30. Value of Government-owned farm surpluses rose to $7.2 billion.

PROXY WAR will be fought by Clint Murchison Jr. and his brother John for control of the Alleghany Corp., the holding company that controls the New York Central and Investors Diversified Services, world’s largest group of mutual funds (assets: $3 billion). Murchisons were ousted from I.D.S. board by Alleghany forces, but hope to reverse setback by taking over Alleghany in which they control a potential 20% of the outstanding common stock.

BRITISH AUTO exports are being hard hit by U.S. compacts. August exports to U.S. were less than half last year’s, following slump that began when June exports fell to 8,327 v. May’s 23,291, continued in July when total was only 8,757.

U.S. GOLD OUTFLOW continues to increase alarmingly. Treasury reported $181 million went abroad v. $50 million in previous week. The one week’s loss was greater than for all the first six months of 1960, and the biggest weekly commercial loss since Depression 1931.