Business: TIME CLOCK, Aug. 8, 1955

FORD LEADS CHEVROLET in the race for the industry's No. 1 sales spot. Total new car registrations, as compiled by Automotive News for 1955's first five months, plus six states for June: Ford 615,357, Chevrolet 612,126.

WINDFALL-PROFITS PROBE on FHA housing projects has hit a snag. The U.S. Court of Appeals upset a one-year jail sentence for ex-FHA Assistant Commissioner Clyde Powell, who okayed projects that netted builders some $500 million in unwarranted windfall profits. Though Powell refused to tell a federal grand jury how he banked an average $27,000 yearly from 1945 to 1953 (on a salary of only $12,000), the...

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