The licensing board of a city may, by regulation, prohibit the accumulation or storage of the commodities designated in RSA 322, the granting of licenses therefor, and the granting of licenses to deal in or keep a shop for the purchase, sale or barter of said commodities, within or in the immediate vicinity of the compact part of such city, and may define the limits within which said commodities shall not be accumulated or stored, or said business carried on, or licenses therefor granted. The adoption of any such regulation shall in no way affect the duties of the licensing board in acting upon applications for licenses to be exercised in territory outside the limits specified in such regulation.