Fast Payoff

U.S. businessmen got good news. Boss Robert H. Hinckley, Czar of Contract Settlement, noted in his first report to Congress that $21 billion in war contracts have already been canceled without jamming up production ($65 billion in war contracts are still outstanding).

Last week Czar Hinckley made things even smoother. He put into operation a single cancellation system for both Army & Navy, and gave officers greater authority to make spot settlements of small contracts. Come V-E day, Hinckley predicted, another $20 billion of the contracts will be canceled. He expects speedy settlement of these--the War Department is now paying off on canceled contracts on an average of 45 days after bills are filed.

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