Show washington N WS k own PROM FROM OUR congressman W WK K GRANGER aid to bussh I 1 treasury secretary told his press conference the soviet government has repaid in gold a little more than chak of the advanced by the united states treasury more than a month ago he said the quick repayment of a large laige portion of the advance reaffirmed faith til in the ability of the soviet union to live up tip to their thear obligations new parachute A new parachute has been devised that will prevent parachute paia chute troops from spIn nning dizzily through the air tho the worst enemy ot of the para chu test especially in long delayed plunges mec necessary essary to avoid detection by the enemy is fright the new parachute has a small anti spin anchor and has been found to give the oe juniper a feeling of confidence particularly ticul arly in delayed balls alls because he floats in an erect or partly erect position and does not whirl through the air priorities the supply priorities and allocations board has adi adopted opted a policy extending to all american industries priority assistance in obtaining needed repair parts previously only 23 s such u e li classifications as newspapers radio stations hospitals and shipyards were ivere granted priority ratings fags tor for needed repair materials said a new order bearing out the newly adopted policy will be announced soon because ot of the need for keeping the entire economy in good running order inflation control the federal reserve board os ol governors inci increased eased reserve requirements for member banks to the present statutory limit effective november 1 I increasing reserve requirements by about one seventh and taking a aa further step in the governments program tor for combating inflation the announcement said the action will leave banks as a whole with ample amp I 1 is funds to meet all credit needs ot of the defense program and all legitimate requirements of ell isomers A majority of member banks will meet tho the increased requirements from existing excess reserves serves le the announcement said tuie board determined penalties tor for deficient reserves prior to december y 1941 shall be based upon reserve requirements in effect october 31 1941 secretary of treasury Tea sury tou anh and chairman eccles of the th federal reserve board issued a joint statement on the boards action the treasury and the board of governors will continue to watch the economic situation and to cooperate with other agencies of the government in their efforts through priorities allocations price regulations and otherwise to fight inflation the statement said further action during the emergency will be taken only after consideration by both tile the treasury and the board college students obtain draft delays selective service national headquarters in a memorandum to state directors and local boards tasked asked that college students who are not expected to be called tor for service before the middle of the college quarter term or semester be assured they will be gi granted anted postponement of induction until they have finished the quarter tevin or semester the memorandum specified students should not be ba granted postponement oi of induction in order to permit them to start the school term students preparing tor for occupations essential to mat national ional defense and public welfare be given a deterred deferred classification SS headquarters said subcontracting director odium of the office of production management contract distribution division told the national defense production clinic in now new york city wany many millions of hours of usable machines are being wasted dally daily while at the same time orders are in hands bands of 0 machine tool industry that will take eighteen months to fill we wait for their completion we will need them as fatt falt as they can returned be turned out fiut ut we should use what we have at hand too even the tha less lesa efficient has its place large plants equipped to do the more difficult work should pass on oil to th the ts smaller plants the simpler work which they in turn are equipped to do new national guard policy the department ot of war announced a new policy under which national guard officers may be assigned to duty in any unit tt lof the army as a result of legislation permitting retention of guardsmen guardsman guards men in federal service tor for 30 months previously guard officers with a few exceptions were kept in national guard units the department also announced a new policy authorizing reserve officers to volunteer tor for foreign service duty at any station now occupied by US corces lor ces pilot training civil aeronautics authority administrator connolly announced flight instructors have been going from the CAA pilot training program to the army navy canadian air force and airlines at ta a rate of month since june 1 compared with an average for or march april and may 0 ogot something to yell sell something you need try a classi classified fiedl |