Time Clock, Oct. 17, 1960

BUY-AMERICAN order from Pentagon to U.S. military commanders abroad will bring drastic change in purchasing policy. U.S. has been buying supplies for military and foreign aid abroad to help countries with unfavorable balance of trade. With U.S. running big balance-of-payment deficit, Pentagon will "favor" U.S. suppliers if costs are equal, although actual purchases are estimated at only $30 million. Other Government departments are studying similar moves.

BLOCKING RAIL MERGERS until job security is guaranteed is a new policy of railroad brotherhoods. Brotherhood of Maintenance of Way Employees filed suit in effort to stop merger of Delaware, Lackawanna and Erie railroads, which the brotherhoods claim will eliminate 2,000 jobs. With rail employment already reduced by one-third in past ten years, brother hoods fear that new wave of mergers (six are pending before Interstate Commerce Commission) will accelerate unemployment.

BUSINESS WATCHDOG wants more staff and money to step up its activities. After busiest year in its history, the Federal Trade Commission wants 70% more staff and a 50% increase over current $8,000,000 budget to intensify its campaign against misleading claims and antitrust violations.

ANTITRUST SUIT against American Cyanamid Co. was filed by Justice Department, charging conspiracy with six other companies to monopolize both domestic and international trade in melamine and melamine products, whose sales by American Cyanamid last year totaled about $87 million, some 15% of the firm's volume. The U.S. charged that for over 20 years,

Cyanamid had monopolized trade in melamine, a chemical used in making Formica and plastics.

AMERICAN EXPORT LINES CO. passed from control of Mrs. Josephine Bay Paul, chairman, and her husband C. Michael Paul to a rival shipping line. For about $8 million, the Pauls sold their 25% control of American Export, which operates a 30-ship fleet, including the liners Independence and Constitution, to the Isbrandtsen Co., which owns and operates 20 American-flag ships and charters some 30 others.

ZECKENDORF EMPIRE has been cut back by $90 million. Bill Zeckendorf, president of Webb & Knapp, big U.S. real estate firm, sold off that much property this year to get cash to rescue beleaguered Freedomland and to help finance multimillion-dollar developments in Los Angeles and Montreal.