Time Clock, Nov. 4, 1957

GASOLINE PRICE CUTS are in the wind. With the winter season of reduced driving coming on, gasoline stocks are pushing 180 million bbl. v. 173 million bbl. this time last year, and refineries have already shaved ¼¢ off the price of gas at Gulf ports.

PENN-TEXAS REBELS, trying to oust Leopold Silberstein as president, will go to court to open up holding company's books. Rebels expect to prove heavy losses to be a result of Silberstein's attempt to take over Fairbanks, Morse & Co., and that company does not have enough cash to meet its bills. Meanwhile, Penn-Texas reported third-quarter earnings of...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!