Time Clock, Feb. 18, 1957

UNION VIOLENCE in bloody Southern Bell Telephone strike two years ago has been compensated by one of the biggest out-of-court settlements in history. Communication Workers of America is paying $315,000 to Southern Bell, which will drop $5,000,000 damage suit against union.

PENN-TEXAS CORP. now owns a surprisingly high 40% of stock in Fairbanks, Morse, and is still buying heavily for proxy showdown March 27. Penn-Texas bought 161,450 shares during January, by month's end held 550,050. Present Fairbanks management owns about 33%.

LAYOFFS are coming for Trans World Airlines as first step in economy drive by new President Carter L. Burgess (TIME, Dec. 17)....

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