Time Clock, Apr. 22, 1957

SWISS SECRECY law, forbidding Swiss banks to reveal clients' names, is likely to be eased because Congressmen and SEC complain that it is being abused in U.S. to manipulate stocks, decide proxy fights. Embarrassed by bad publicity from law originally intended to protect accounts from being seized by foreign dictatorships, Swiss officials are conferring with U.S. on how to allow some disclosures.

FAIRBANKS, MORSE PROFITS are rising fast, says company in reply to Director Leopold Silberstein, who is driving to take over heavy-equipment maker on charges that its earnings, management are poor. Although sales rose only 4%, F-M's first-quarter profits hit $660,507...

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