No. 76-1044. Heard June 16, 1976. Decided February 3, 1977. Rehearing and Rehearing En Banc Denied March 17, 1977. Irving Powers, John K. Roedel, Jr. St. Louis, Mo., for appellant. Raymond J. McElhannon, Norman H. Zivin, Clyde H. Haynes, New York City, William T. Rifkin, Chicago, Ill., for appellee. Appeal from the United States District Court for the Southern District of Illinois. Before SWYGERT, CUMMINGS and PELL, Circuit Judges. SWYGERT, Circuit Judge. The outcome of this appeal turns on the validity