Cross Reference Memorandum

SEE: 293 rab CROSS REFERENCE SHEET 6-KK Name: CHAPMAN, Honorable Oscar L. Date: 2/9/52 Secretary of the Interior Organization: Address: Washington, D.C. Regarding: Memorandum to the President re Use of Voluntary Credit Restraint Committee in Opposition to the Public Power "rogram. States that recent actions of the Western Voluntary Credit Restraint Committee indicate that the emergency authority vested in such Voluntary Committees is being used by certain private interests to subvert the power programs of the Federal Government and the State of Washington. Says that long before the Federal program for development of the Columbia "iver became a reality, the Washington State Grange and other public interest groups succeeded in securing state legislation authorizing establishment of county-wide, publicly-owned, public utility districts; many of these utility districts are now thriving concerns, and Federal power programs in the area have aided this development. Complains that the voluntary credit restraint program is being used to block several acquisition programs. He refers to the case of the Puget Sound Power and Light Company which has long been pursuing an announced policy of liquidatings its properties to public agencies. This transaction was disapproved twice by the Western Credit Committee. States the timing of the actions of this Committee in the Puget matter appears also to have a most pre- judicial impact upon the series of public utility district acquisitions of the "ashington Water Power Company. Feels it is apparent that the actions of this Commit- tee are being used by some to entrench the special interests who thrive on menopoly control. Recommends that the President express his desire that the Voluntary Credit Committee shall not exercise its powers to defeat these acquisition programs. Attached is letter to Wm. Mc. Martin, Chairman, Federal Reserve Board from Secy of the Interior; letter to Secy Chapmen from Mr. Martin; letter to Mr. A. K. Browne, Western Investment Banking Boluntary Credit Restraint Committee from James F. Fairman, Admin., Defense Electric Power Administration; letter to Mr. Charles E. "ilson, Dir., Defense Mobilization Board from Henry P. Carstensen, Master, Washington State Orange; news- paper clipping; mimeographed letter to Mr. A. K. Browne from Paul J. Raver, Admin., Bonneville Power Administration; copy of letter to A. K. Browne from James F. Fairman; copy of letter to Defense Electric Power Administration from A. K. Browne; letter to Mr. Harvey Benson, Pres., Public Utility District No. 1 of Skagit County from Frank F. Walker, Chm., Western Investment Banking Voluntary Credit Restraint Committee; copy of letter to Mr. Walker from Harvey Benson; copy of a program for Voluntary Credit Restraint; a Bulletin dated 5/4/51 and copy of letter to Governors of All States, Mayors of Major Cities; Financial Officials of Principal Counties and Other Political Subdivisions from Hon. Charles E. Wilson. Memo for Mr. Murphy, 2/11/52 from Mr. See: 16-59420-1 GPO