Time Clock, Jun. 13, 1960

EXPORT SURGE in April brought U.S. total for first four months to $6.3 billion, a rise of 22% over the same period last year. Imports totaled $5 billion. Exports in 1960 are now expected to exceed imports by at least $2.5 billion, thus come closer to ending U.S. deficit ($3.7 billion in 1959) in balance of payments.

JAPANESE PEARL shortage is expected because of $19.5 million worth of damage from tidal waves generated by Chilean earthquakes. High seas destroyed oyster beds, disrupted the three-year growing cycle needed to turn a grain of sand into a pearl.

OIL IMPORT QUOTAS were cut by...

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