Show ICKES OUTLINES TO WAY OUT Expansion of Revolving Revolving Revolving ing Fund Suggested v WASHINGTON ASHINGTON May 18 UP tIP tIP- Secretary Ickes told senate a appropriations appropriations ap ap- subcommittee today that a way out of the public works administrations administration's financial position position po po- might be found in the expansion expansion ex ex- ex- ex of the P W A revolving fund and the relaxation of statutes governing its operation The P PV V A A- administrator whose organization is Js scheduled for curtailment cur cur- under the re re- re- re lief-deficiency lief bill before the tho subcommittee subcommittee sub sub-I committee testified behind closed doors Downtown as he spoke the DIstrict District District Dis DIs- of Columbia court of appeals held that the 1935 1035 relief appropriation tion on a act trans transgressed ess h th the co tion Uon The pending Dill bill with wan Its us 1 i- i relief fund is modeled along similar lines Senator Hayden D. D Ariz Aris told reporters after Ickes testified that the tho secretary had indicated that his needs in securing funds with which to carry out some approved approved approved ap ap- ap- ap proved projects might be found Inthis inthis in inthis this manner Hayden explained that present statutes limit the revolving fund to with the Reconstruction tion corporation acting as selling agent of P W A securities The Arizonan who advocated an amendment to the tho bill to give Ickes said this revolving fund fundis is used for loans The suggestion before the subcommittee he said was to permit its use for grants as well In addition he said Ickes had about worth of se securities securities so- so which he is now precluded from giving to the R F P C to sell Hayden said the law might be re relaxed relaxed relaxed re- re to permit this being added to the tho revolving fund He Ho added that no conclusion had been reached as to how much of the suggested fund might be bo used for grants and how much for lor loans but bilt said the grant aspect o of it would be tantamount to an appropriation |