October 1, 1954

SK Finance Min Jung Jae Lee threatens to cut off credit unless UN forces repay all currency advances at official exch rate of 180 hwan to $1; open market price 500 hwan to $1; UN Command seeks compromise at 254 for $1

McCarthy files bill of exceptions to Watkins com rept; urges Sens not to prejudge him before session; Williams says bill outlines stand McCarthy will take in Sen debate, lr of transmittal; Watkins disputes Williams contention that com recommended censure for abuse of 1 member of Elections subcom; says censure was urged for abuse of all 5 members; bill queries subcom legality

com hearing, NYC; Sen Bush presides; J J Brunetti repts he got $1,625,000 in 'windfalls' on 5 NJ projects; admits gifts to FHA employes; 4 bldrs tell of 'windfalls' they got; Bush sees 'windfall' profits legal, Brunetti por

state funds transfer from interest-bearing to non-interest-bearing accts reptdly helped conceal $300,000 Hoffman misappropriated; reptdly made at Hoffman request

Higher Educ Bd oust Assoc Profs McGill, Weisner and Hughes for links to Communist party; affirms all trial com recommendations except one charging conspiracy to hide data; to probe 2 others on staff cited at trial