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RMA SENDS FINANCING RECOMMENDATIONS TO CONGRESS
The Rpdlo Manufecturers ' Association has submitted to Congress and the Federal Reserve System recommendations of the Association to provide financing to manufacturers in future recon¬ version operations. HVhile '*7” and ”V-T'’ loans are now available to manufacturers in the war program, additional financing, upon termination of T'Rr contracts and for reconversion to peacetime operations, are regarded as necessary.
Following is the resolution of the RfiA Board of Directors, as recommended by the Industry Reconversion Committee, which has been transmitted to the Chaimen of the Senate and House Banking Committees and also to the Federal Reserve System?
"That the lawmaking body of the United States Govern-, ment or Government agency which may have the power to so do, establish a law or regulation which will permit of the use of the present or ’-T' loan, or provide for some new means of loan, to carry out the reconversion program as individual companies may need it.”
That subcontractors as well as prime contractors in RMA carefully consider the privileges of the present ”V” and ”V-T” loans has been recommended by the Industry Reconversion Committee ahd also tne new Sales Financing Committee of which J. P* Rogers of Fort Wayne is Chairman. Data on the ”V” and ”V-T” loan procedure and privileges is now being compiled by the WA headquarters and detailed information will be transmitted to the membership in the near future.
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TRY TO SAVE FCC INTELLIGENCE DIVISION HOUSE WIPED OUT
Chairman James Li Fly and other members of the Federal Communications Commission went before the Senate Appropriations Sub¬ committee this (Tuesday) morning in an effort to save the FCC Intelligence Division which the House two weeks ago wiped out with¬ out a dissenting vote, and in doing so cut the FCC appropriation by 31,654,857. It is believed the Commission will find itself in friendlier hands in the Senate than in the House, the impression being that the Senate might even restore the full amount. If this is done, it would surely stir up a hot fight and again raise the question as to whether the recommendation of the Chiefs of Staff should be followed in divesting the FCC of its Intelligence Divi¬ sion which those high offices declared should be under the Army and Navy,
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