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Show WAR FIANCE Directors of Corporation to Be Appointed by President and Confirmed by Senate. "WASHINGTON, Feb. 21. By unanimous unani-mous voto the administration bill to create a war finance corporation with capital of ?4,500,000,000 to extend gov. ernment aid to war industries was ordered or-dered favorably reported today by the senate finance committee. One of the most important amendments amend-ments adopted by the committee would take from the directors of the railroads rail-roads the power to license the private security issues and place it in the hands of a capital issues committee appointed by the federal reserve board and to include three members of that board and not more than eseven members mem-bers in all. Another important amendment would limit the directors' power to make direct loans, not through banking bank-ing agencies. Such loans might be made only to railroads, public utilities or going organizations necessary or contributory to the prosecution of the war and which wore in the judgment of tho directors of "exceptional importance im-portance In public interests." The bill also was amended to make the directors of the corporation ap-pointable ap-pointable by the president with confirmation con-firmation by the senate instead of by Secretary McAdoo. Mr. McAdoo, however, has agreed to all tho amendments amend-ments and it Is believed thoy will command the support of the Republicans. |