TWO-DRINK LIMIT will be imposed by airlines on domestic flights to head off possible congressional action against drinking aloft. Size of the drinks: 1.6 oz. No limit on beer and wine.

HARDTOP CONVERTIBLES with tops that slide down into recessed area over trunk are being tested by both Ford and Chevrolet. Ford is expected to unveil such a car this fall.

WESTERN UNION RATES on domestic telegrams will go up July 29 unless FCC blocks boost. To meet increased costs, Western Union plans to hike rates 5-c- to 15-c- for each telegram going farther than 125 miles, thus collect an additional $11.4 million yearly.

MAIL-ORDER PRICES are going up again this fall. New catalogues for Sears, Roebuck & Co. are hiking prices 1 1/2% overall, while Montgomery Ward & Co. is boosting prices 2% on some appliances and home furnishings.

MOSCOW FAIR FOR U.S. industry and agriculture next summer is latest Soviet overture to boost East-West trade. Reds want American businessmen to display industrial machines, agricultural products, fashions and fabrics. Reds say they will also set aside $15 million to buy goods of "outstanding quality" right off display stands.

WALL STREET MERGER will join Eastman, Dillon & Co. and Union Securities Corp., two of nation's biggest investment bankers and underwriters. To be called Eastman, Dillon, Union Securities & Co., new firm will have assets of more than $17 million. Combined underwriting business since Jan. 1, 1955: $770 million in corporate issues and municipal bonds.

FIRST SHIPS released by Maritime Commission under emergency program to relieve ship shortage (TIME, July 2) will go to Isbrandtsen Line, which will get 15 mothballed Liberty ships from reserve fleet, use them to carry coal to Western European markets, where demand far outstrips supply. Lease arrangement is for 15% of ships' sale price, or $1,225,000 for total one-year charter.

CAPITAL TRANSIT CO., Washington's oft-troubled transportation system, which Financier Louis Wolfson milked of millions (TIME, June 25), will finally be sold. For $13.5 million, syndicate headed by Manhattan Real Estateman O. Roy Chalk has agreed to buy bus and streetcar line, is expected to take over next month when current franchise runs out. Originally, Chicago's National City Lines planned to buy, but later withdrew.

POTATO SHORTAGE is sending prices to highest level in 40 years. On Chicago market, California red potatoes currently bring $10 to $10.50 per 100 lbs., up $4 since May and $7 higher than year ago at this time; Maine potato futures last week hit new high for this year of $3.07 per 100 lbs.

TRANS-EUROPEAN PIPELINE to carry oil from Mediterranean to North Sea is planned by Royal Dutch-Shell group. To cost up to $280 million, project is for 30-in. line running 700 miles from Marseilles north through France and Germany to Rotterdam with spur branching off to Paris. Possible connection: a line running from Wilhelmshaven, Germany, 185 miles south through Ruhr industrial area.

RARE METAL FIND has been uncovered by Gulf Oil Corp. in Northern Ontario. A Gulf subsidiary, Dominion Gulf Co., has discovered major deposit of columbium ore, expensive ($120 per lb. of powder) and strategically important toughening ingredient for steel. Find is so big, says Gulf, that it will lead to new uses for columbium alloys in aircraft, petroleum and chemical industries.

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