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TO RULE ON FAIR TRADE ACT WASHINGTON. D. C, Oct. 13. It was announced Monday that the Supreme Court had agreed to hear arguments dealing with the constitutionality of the Illinois "Fair Trade Act," under which manufacturers are allowed to make retail prices on their products. After the Illinois Supreme Court held the law valid in a suit originally began by the Seagram Distillers Corporation, the Old Dearborn Distributing Company of Chicago made an appeal to the highest court in the land.