January 25, 1975

Fed Appeals Ct, Denver, overturns antitrust conviction of IBM Corp that had ordered co to pay $259.5‐million to Telex Corp and affirms lower ct's judgment against Telex in countersuit; bases reversal on finding that ‘trial ct erred in defining relevant market or market as term is used in antitrust laws’; also disagrees with trial ct's finding that IBM's actions were ‘predatory and contrary to Sherman Antitrust Act’; SEC orders immediate suspension of trading in securities of both cos as well as those of Telex Computer Products Corp for 1 day; Telex Co pres Steven latras says ruling will be appealed; IBM chmn Frank T Carey says co is ‘pleased’ with ruling; other antitrust suits against IBM, aside from those initiated by Justice Dept, include suits by Transamerica Leasing Corp, Marshall Industries, Memorex Corp and Calif Computer Products Corp; sanctions imposed on IBM by trial ct outlined (M)

Govt lawyers reptdly disagree over Govt's authority under Emergency Petroleum Allocation Act to devise allocation system that would reduce consumption of petroleum and petroleum products even if there is no real shortage of oil; Pres Ford has said that if his proposed fees on imported oil were rejected, he would accept allocation of petroleum products instead (S)

Beame adm will send package of housing bills to NYS Legis; major proposals under consideration are scrapping maximum base rent program, repealing modified vacancy decontrol law, repealing law which bars NYC from passing any housing laws tougher than those now on the books, approving a repair and deduct law that would give tenants right to make needed repairs and deduct costs from their rent payments, banning retaliatory evictions against tenants who are involved in tenant organizing activities; during his campaign, Gov Carey was strong supporter of similar measures but since he became Gov he has had little to say on subject; NYC's rent situation revd (M)

Explosion in Wall St area, reptdly detonated by Puerto Rican nationalists, causes extensive damage at 101 Broad St, which houses annex to historic Fraunces Tavern and Anglers Club just above it; scores of patrons and passerbys received multiple injuries in blast; callers identifying themselves as members of Fuerzas Armada de Liberacion Nacional Puertorriquena (FALN), Puerto Rican natialist orgn, claim responsibility for explosion; orgn reptdly left message saying that bombing was in retaliation for CIA ordered bomb that killed 2 persons and injured 11 others at Central Drive Inn, PR, on Jan 11; fatalities listed; impact of damage detailed; illus of people and bldg after blast (L)

Canadian Govt announces new tax measure that reverses provision of existing tax law exempting advertising costs as business expenses; only money spent for advertising with Canadian publications and broadcasting stations will be deductible; legis, to be introduced during this session of Parliament, is expected to discourage Canadian advertisers from buying time for commercials on some 70 US TV stations whose programs are received in Canadian homes and to force closing of Canadian edition of Time magazine (S)