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Show BD TO PUSS UPON PROPOSED 0ONQIKSUES Federal Reserve Committee ; Will H ave Approval in Cases of $200,000 i or More. $250,000 MINIMUM REDUCED TO $100,000 Conference to Be Held in Washington Tuesday to mUfscuss New Voluntary Regulation. WASHINGTON". Vb. Ta orv nui-nuipal nui-nuipal I'ovui issuo of f-iMO.t'tiO or moro ritreaftor will be isHo.t utot lv tho fieral rosorvo board's oupital isjo I'omir.ittoe Wt'oro boiit t'loativl. u-re-Win; today from $-."i.i'0 to 10. - OO'l iho minimum si.. ol" mmiu-iial is-uos wliw-h it wiil consider, tlm rom mittoo oMenuod t intluvtu-r i.ier st' -oral timos moro m:ruiipal bond i.-uc.. The 'oinmi:!oo. at'ivr an:ily:-.iii-j poml-in' poml-in' aj lii at iois for ap T'' al ot pro poV'd initios, found that tho bulk of ; iMiuiicipal bonds w oro ot lof.l in llook. ' of loss titan i-J."ti.noil :md thoroforo nut i snb ioct to tbo onimit tot1 's rostn.'ti o io.finoiti'O. l'odorttl rosorvo aont of tho tnoUo ' rosor o banks, who also aot a ohair-li'.on ohair-li'.on of tho 5,i'.ioo:nin it t eos 01" tho oapi tal issuos bodv in their distn.ts, will oomo to Washington tr a i-o:iferom'o i TnoSklay to disruss th-' oprratnoi of tlu1 ; now s toin ot volimiaiy ronlatiou of ' socuri t ios isstios. j Instructions Issued. In a cirvular of instrmiiotts tlu- i'om- tnittoo and t's tohisorv bodv, hoado 1 ; by A'.lon H. l orbos. osplainod that tho jpuipost's and idrennstanoos sarrof.nd-i sarrof.nd-i ir.g oa.-h isuo must bo do-,-ribod fully in tho :t;.!iration f,r approal. This is r;n ti' idarl v noi'o.sirv if muds are needed tor extensions er impro ements , rehiring d'.reetly to war production or ' f uif diaient vf any rational, state ur lo-ea! lo-ea! l:i ornttiout roquirenuMit. ''in ad eases."' s:bd the i nst tin t ions, "full reasons should bo l'iyou why tae pro; os-'d issues ean not be postponed unttl after the war. Detail ennee-nitii: earita'i.'.ition anl i financial conditio. of the eompany are roiju-red in eor.neetion with applicat ioiis . for issuance of stock. : 1'or state, eounrv or municipal issues, tho eommittee requires a copy of the bill, resolution or ordinance under which they were liuthori.'.ed. The committee ..n"'".:nce,l today that it is woriiine with tho fedora! t.urenu of public roads in detenu i ni u c; hat contemplated road const met ion this year is necessary for urgent tnilitarv ur ee ouo ru ie rea sous. Most roads to which tho bureau heretofore 1ms planned to contribute will In' built even under the capital issues restrictions, it is said, since they have been carer', illy selected on the basis of their economic importance. The support of state highway commissioners has been onhstel and they will report soon an outline of their curtailed road building programmes for the venr. In normal times, hi"iiwav Hmstmc tion and maintenance in the I'nite.l States calls lor an outlay of about i:;iio, lino, Ooil a year. Officials are inclined in-clined to the view that this smn will not be greatly curtailed this vear, but that it will be spent on roads vitallv nec(s-:.ry for transtHrtation of war nui-tori:. nui-tori:. Is. Projects for building of roads, which can not be completed for more than a Mar, prohutdv will be piven un-laorable un-laorable consider:! t ion, since the capita! capi-ta! is-ues committee is actini; upon the! assumption that .the war will not last : more than a year longer. j |