Full text of Mimeograph Letters and Statements of the Board : Telegram From Asst. Secretary Bethea re Applications for Guarantees of Loans to Be Accompanied by Statement of Necessity From Reliable Source, Number S-465, Volume 56, Page 195

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195
S-465
TELEGRAM
April 24, 1942
Young - Chicago
Davis - St. Louis
Peyton - Minneapolis
Lee<tr -::; Kansas City
Gilbert - Dallas
Day - San Francisco

Paddock - Boston
Sproul - New York
Williams - Philadelphia
Fleming - Cleveland
Leach - Richmond
i•lcLarin - Atlanta

In order that War Department, Navy Department or
Maritime Commission may be jn possession of adequate information in passing upon

ap~lications

for guarantees of loans under

Executive Order 9112, please accompany requests for such guarantees with a recommendation of necessity for loan

fro~

con-

tracting officer of supply arm or service concerned or from
some other reliable source.

Such statement should include not

only necessity for war supplies or services being furnished,
but also a statement of necessity of mru(ing loan to proposed
borrower and his ability to perform work at price specified
in contract or subcontract.




(Signed)

L. P. Bethea