Time Clock, Dec. 27, 1954

DEALER RESTRICTIONS, by which companies prevent distributors from unloading surplus stocks outside their geographic areas, are in for a rough time from the Justice Department. Government lawyers have filed an antitrust suit against Philco for a clause in its contracts that gives the parent company the right to buy up (at cost) and sell back to the distributor any product that he sells outside his area or to an unauthorized dealer. Justice's charge: the clause eliminates competition, boycotts nonfranchised stores.

BANK MERGER between Boston's Second National Bank and the State Street Trust Co. will result in New England's largest state-chartered bank, with...

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