Time Clock, Oct. 14, 1957

TRADING-STAMP COMPANIES won vital battle against anti-stamp merchants, who charged that stamps jack up prices, squeeze out non-stamp stores. FTC ruled that stamps do not create "unfair competition or deceptive practices," but promised to act against any company that uses stamps for "deception of customers, price discrimination."

GET-TOUGH POLICY of ICC is starting to trip up accident-prone trucking lines. After threatening to ban six other truckers (TIME, Sept. 16), commission ordered one-year probation for Kansas City's big Riss & Co., whose 500-plus interstate trucks from 1951 to 1953 "were involved in 1,200 accidents resulting in shocking total of 51 deaths and 501 injuries." ICC's ultimatum: Riss must drastically improve safety record or be barred from highways.

CURRENCY TROUBLE between cash-heavy Germany and cash-shy Britain is growing worse. For September, West German reserves of gold and foreign exchange will show jump of about $600 million to $5.9 billion, more than 25% ahead of last year's total. Sterling area's reserves will show dip of $282 million to $1.85 billion, lowest since 1952.

FAIR TRADE is out in New Mexico, 13th state to rule that manufacturer cannot dictate minimum retail prices. State Supreme Court threw out clause that says if one store signs a fixed-price pact all stores must uphold it. Exempted: fair-traded tobacco products and liquor.

TVA next year will start building biggest U.S. steam generating unit. Located 45 miles southwest of Chattanooga, the $86 million generator will have capacity of 500,000 kw.

KENT CIGARETTES are being rationed to jobbers by P. Lorillard Co. because recent promotion of company's nicotine-and tar-cutting filter has lit up sales. Kent, which last year was far down the list, is now challenging top filter brands. Lorillard's stock has puffed from year's 15⅝ low to 26⅛

BIGGEST INDUSTRIAL development in history of Iran will remake country's oil-rich southwest at cost of $91 million, drawn mostly from oil royalties. Government has hired U.S. Development & Resources Corp., headed by former TVA Chairmen David E. Lilienthal and Gordon R. Clapp, to build a 460-ft.-high dam for power, flood control and irrigation, along with a complex of industrial plants and pipelines.

DETROIT'S SOFT SPOT this year will be sales of heavy-duty trucks, i.e., more than 19,500 Ibs., which are off 11%, will total about 197,000 for the year. Makers point to tapering off in industries that use big trucks — home building, cement, aircraft.