Time Clock, Jan. 11, 1954

GREEK shipowners who bought surplus U.S. vessels despite the law banning such sales to aliens are in for more trouble from the Department of Justice (TIME, Sept. 14). This week a grand jury indicted Greek Shipping Tycoon Manuel E. Kulukundis on the ground that he illegally bought U.S. ships through a series of subsidiary U.S. corporations. Federal agents are planning to seize the 10,172-ton tanker S.S. Sweetwater and some 24 other ships allegedly owned by Kulukundis.

TURNABOUT in farm prices in December (up 1.2% after a four-month drop) was due largely to...

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