Show Board May Reject Relaxed Credit red if Controls on Cars WASHINGTON Jul July 2 UP UP- UP The Federal Reserve Board appeared appeared appeared ap ap- set Monday to turn down downa a congressional request for immediate im fm mediate relaxation of oC its credit restrictions on automobile sales Informed sources said the board members arc are determined to stand by their present requirement requirement requirement require require- ment of oC third one-third down and 15 months to pay on all car purchases purchases purchases pur pur- chases on the grounds that inflation inflation in in- is still here and will get worse vorse this fall I IThe IThe The board was called into ses- ses ses 1 I son ion as the administration reluctantly reluctantly reluctantly accepted a watered down one month extension of price price- wage-credit wage controls and prepared prepared prepared pre pre- pared to fight for a il tougher permanent per per- permanent manent bill during durin the interim Chairman Burnett R R. R Maybank laybank D. D S S. S C. C of the Senate Banking Committee asked the reserve board over the week end enci to g give ge e ethe the slumping automobile industry industry industry indus indus- try a shot in the arm by casing up on installment buying |