U.S. HOUSE PLAN SEEKS TO BAR FOREIGN TAKEOVERS

  A House subcommittee voted to give
  President Reagan authority to block foreign takeovers of U.S.
  companies similar to the takeover of Schlumberger Ltd's &lt;SLB>
  Fairchild Semiconductor Corp by Fujitsu Ltd which was
  withdrawn.
      The House Energy and Commerce Subcommittee on Commerce
  approved as an amendment to the overall House trade bill a
  provision giving Reagan the power to block sales to foreign
  companies if the sale was not in the national or economic
  interest.                
      The takeover provision was sent to the full Energy and
  Commerce Committee for consideration as part of the overall
  trade bill which is being written by several House committees.
      The subcommittee's bill would bar imports of digital audio
  recording equipment that is not made with anti-copying chips.
  This provision is designed to protect U.S. companies from the
  unauthorized use of U.S. designs in foreign products.
      The bill calls for an investigation of whether U.S.
  engineering and construction firms are given adequate
  opportunity to bid on Japan's civil works procurement practices
  including the construction of the Kansai airport.
      The Energy and Commerce subcommitte rejected a plan offered
  by Rep. William Dannemeyer, a California Republican, to require
  the U.S. to pay investors one pct for the right to hold their
  gold investments in government storage.
      His amendment called for the government to sell gold coins
  and gold-backed bonds with maturities of 30 to 50 years to
  investors to reduce the federal debt.               
  

