August 9, 1978

Vice chmn Richard L Terrell, long prime contender for presidency, resigns (M)

NYS Environmental Conservation Comr Peter A A Berle releases list of firms using toxic chemicals; promises probe of handling disposal practices in wake of Love Canal contamination; designates 85 cos for inspection; Fed Disaster Adm reprs brief staffs of Sen Javits and Repr LaFalce on Fed role in assisting Love Canal victims (M)

William Carlsen article on trend in US toward lighter beer; illus (M)

Fed Circuit Ct Judge Charles Miner refuses to hear suit brought by Fla Gerald Lewis to bar Texas Internatl from acquiring more National stock; gives Lewis 10 days to file additional arguments regarding cts jurisdiction; suit charged Texas Internatl, which is seeking 25% of National, with violating Fla's securities law; National appeals acquisition to CAB, seeking to bar Texas Internatl from taking control of National and detail of takeover plans, particularly Texas Internatl's intention to seek foreign capital; appeals to SEC separately, charging Jet Capital Corp, Texas International's 59% owner, is barred from acquiring National by terms of 1940 Investment Company Act (S)

A major overhaul of Federal regulations and an easing of direct Government intervention in the economy were called for in a special report issued by the American Bar Association's Commission on Law and the Economy. It recommended the deregulation of such industries as airlines and the gradual phasing out of price controls on and natural gas. At the same time, John H. Shenefield, chief of the Justice Department's antitrust division, said there was a serious possibility that public restraints through regulation would pose longrun threats to competition and consumer interests. [Page D1.]