PROFITS: Renegotiation Report

Army, Navy and Maritime Commission renegotiation boards last week totted up the results of the first 14 months' work.

Through June 30 the boards got refunds of $1,523,748,000 which the U.S. had already paid out on contracts, and negotiated $2,031,426,000 in price reductions for future deliveries on existing contracts —made possible in most cases by industry's improved manufacturing methods, savings by mass production, more accurate cost schedules on once-unfamiliar war material. Actually, the net savings to the Government are far less than these amounts. If the boards did not exist, the Government would still have collected something approaching 80% of...