DEALER RESTRICTIONS, by which companies prevent distributors from unloading surplus stocks outside their geographic areas, are in for a rough time from the Justice Department. Government lawyers have filed an antitrust suit against Philco for a clause in its contracts that gives the parent company the right to buy up (at cost) and sell back to the distributor any product that he sells outside his area or to an unauthorized dealer. Justice's charge: the clause eliminates competition, boycotts nonfranchised stores.

BANK MERGER between Boston's Second National Bank and the State Street Trust Co. will result in New England's largest state-chartered bank, with assets and deposits of $700 million.

HOME REPAIRS cost U.S. householders a whopping $3 billion for the first five months of 1954, reports the Census Bureau. It figures that 18 million U.S. homeowners, 70% of all who own homes, spent a median $61 in fix-up money. Of the total, half were do-it-yourself fans; the rest gave the work to professionals.

BELGIAN BONDS will go on sale in the U.S. market soon for the first time in 20 years. Belgium, which needs $50 million to improve the Port of Antwerp and inland waterways, will float a $30 million issue through New York's Morgan Stanley & Co. and Smith, Barney & Co., has got the rest in a loan from the World Bank.

LABOR PEACE seems assured for 1955 in California's vital aircraft industry. North American, Douglas and Northrop (Lockheed is still negotiating) have agreed on new contracts with their 80,000 workers, boosting the pay scales by as much as 8-c- an hour.

HOTELMAN CONRAD HILTON, who now has four hotels abuilding outside the U.S. (in Havana, Mexico City, Acapulco and Istanbul), will soon start work on a fifth in Rome. Hilton has just formed a joint company with his Italian backers, will put up a 400-room luxury hotel, with a shopping center, swimming pools, tennis courts and gardens, in the northwestern part of the city. Estimated cost: about $7,000,000.

FORD, which now ranks fifth among the eight big farm-machinery producers, will make a strong bid to become No. 1 by adding more dealers, plant space and products, and by boosting its advertising budget. For 1955, Ford will introduce its first complete line of tractors in 37 years, hopes to jump its share of the farm-machinery market from 19% to 24% within five years.

FIRST NONSTOP DC-6B aircoach flights between Los Angeles and New York were started last week by North American Airlines, biggest (1953 revenue: $10 million) nonscheduled passenger carrier. North American (no kin to American Airlines or North American Aviation, Inc.) has bought two 307-m.p.h. Douglas DC-6Bs, will use them to replace older DC-4s in daily service. Round-trip fare: $160 v, $198 for scheduled (American, United, T.W.A.) aircoach service to the West Coast.

MEAT PRODUCTION in 1955 will break another record, topping 1954's 25.5 billion Ibs. by 500,000 Ibs. Cattle, veal and lamb will all match this year's supply, predicts the American Meat Institute, while pork may jump as much as 5%.

POWER PROJECT on the St. Lawrence, part of a joint U.S.-Canadian plan to develop the seaway, will he financed by one of the biggest bond issues ever. The U.S. share alone, which will go on public sale this week, will come to $330 million. The Aluminum Co. of America has already agreed to buy about one-third of the U.S. output for its upstate New York plants.

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