Letter on the Public Utility Holding Company Bill.

My dear Mr. Rayburn:

I have seen a copy of the proposed substitute for subsection B of Section 11 of the Public Utility Holding Company Bill offered by the Senate conferees as a compromise of the differences Utility Holding Company Bill between the House and Senate bills on the subject matter of such subsection B.

From the point of view of the House, this proposal certainly constitutes a most generous concession on the part of the Senate conferees.

From my point of view, it represents a greater recession from the Senate bill than I should like to see made. But I understand the urgent desire of many members of both Houses to have a bill worked out at this session, and to that end I hope the House will find this proposal of the Senate conferees acceptable.

Very sincerely,

Hon. Sam Rayburn,

House of Representatives,

Washington, D. C.