Time Clock, Jun. 22, 1959

OWNERS OF STOCK now total 12,490,000, or 45% more than in 1956, reported the New York Stock Exchange. One of every eight U.S. adults owns stock. Women own 52.5% of all shares.

NEW COMMERCIAL JET will be built by Douglas for short to intermediate (up to 1,500 miles) range, and 1963 delivery. The DC-9 will have four Pratt & Whitney turbo-fan engines, carry 68 first-class passengers at 600 m.p.h. Probable delivery price: $3,000,000.

FORD THUNDERBIRDS are flying high with output at 50,000 thus far in model year v. 37,900 for entire 1958 model year. Despite full production at rate 80% higher than last year, T-Bird backlog is more than 7,000 cars.

HIGHEST PAID EXECUTIVE in U.S. last year was Bethlehem Steel Corp.’s President Arthur B. Homer, who received $511,249 in salary and bonuses, after a $112,087 cut from 1957 pay. General Electric Co. Chairman Ralph J. Cordiner was second, with earnings of $399,999. Next three places went to other Bethlehem Steel top executives, each of whom received $394,322.

TIRE PRICE FIXING was charged by FTC against 15 tire and tube manufacturers who account for virtually all of the industry’s $2 billion annual sales volume. FTC alleged that the Big Four—Goodyear, Goodrich, Firestone, U.S. Rubber—and others set up zoned pricing system on tires and tubes, which deprived purchasers near production plants of transportation cost savings.

U.S. SAVINGS STAMPS will be offered for soap-product coupons by B. T. Babbitt, Inc. (Bab-O, Glim, Red Devil Lye). Housewives will receive coupons in 5¢, 10¢ and 15¢ denominations attached to products, must mail them in exchange for 25¢ savings stamps.