February 16, 1946

Times Sq lights up as brownout ends

illus shaking hands with J A Stephens

hearings end; Patterson announces rise sought by depts; Controller Joseph submits financial rept of gen fund revenues to Estimate Bd and City Council

WASHINGTON, Feb. 15--The new wage-price policy provides a more liberal basis of computing cost-of-living wage increases but will expand the Government's administrative job of passing on these increases, according to the general view here.

Treas proposed redemption of Govt securities with cash scored by Fed Reserve Bd as inflationary in effect