Time Clock, Apr. 11, 1960

CORPORATE TAX DIP threatens to kill hopes for balanced budget for current fiscal year ending June 30. Collections from industry are running $500 million below estimates.

JUSTICE DEPARTMENT is now studying talks between onetime New Dealer-Wheeler Thomas G. ("Tommy the Cork") Corcoran and three members of Federal Power Commission in a case involving Tennessee Gas Transmission Co. (TIME, April 4). Between 1954 and 1958, he collected $305,907 for legal services and expenses from the company.

NEW YORK-MOSCOW FLIGHTS by Pan American and Russia's state-run Aeroflot stand a good chance of approval in the near future. Reds have apparently been waiting until they had...

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