Time Clock, Jan. 12, 1959

GENERAL MOTORS CORP. will refund $4,908,000 to the Government for what U.S. called "overstated" expenses on F-84F jet contracts between 1952 and 1955, raising the total refund to $9,908,000, including penalty. G.M. Chairman Frederic G. Donner called the profit controversy "a misunderstanding."

NEW POLARIS MISSILE submarine will be built by General Dynamics Corp.'s Electric Boat division at an estimated cost of $105 million. New sub will be larger than the five other Polaris subs under construction.

MORGAN-GUARANTY TRUST merger is being checked by the Justice Department for possible antitrust violations, but trustbusters are not...

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