Time Clock, may 9, 1955

INTEREST RATES are on the way up. To help refinance $6.4 billion in Government securities coming due soon (most of it in one-year, 1⅛% certificates), the Treasury Department will pay 2% interest on a new $3.9 billion short-term issue running for 15 months. The big private finance companies (among them: General Motors Acceptance Corp., C.I.T. Financial Corp., Commercial Credit) are also boosting the rate they pay when they borrow on commercial paper, will now pay another ⅛% interest (to 1¾%) on 30-to 90-day notes, the third such jump in a month.

WESTINGHOUSE will lose...

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