Time Clock, Feb. 8, 1960

IMPORT SURGE in December, to a record $1.5 billion, cut U.S. trade surplus for 1959 to the lowest amount since World War II, $1.1 billion—even though December exports rose to a two-year high of $1.7 billion. U.S. wound up 1959 with commercial exports of $16.3 billion, imports of $15.2 billion.

$12 BILLION FOR ADS is expected to be spent in U.S. this year, following last year's record $11.09 billion. Ad gains in 1959: newspapers up 10%, TV 11%, magazines 13%.

BURLINGTON INDUSTRIES will merge with rugmaker, James Lees & Sons Co. (1959 sales: $84 million).

GERMANY'S ALFRIED KRUPP will never have to obey Allies'...

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