The U.S. Federal Reserve reportedly has an arrangement with the Bank of Japan to provide emergency loans to Japanese banks operating overseas in exchange for U.S. Treasury securities. The collateralized loans would be extended on short notice for banks facing emergency liquidity needs. The purpose of the arrangement is to forestall the possible sale by Japanese banks of large amounts of U.S. Government securities (thereby raising U.S. interest rates) and to boost confidence in Japan's financial system. The loans would not risk U.S. taxpayers' funds. The Chairmen of both House and Senate Banking Committees have made statements about the arrangement, thus making it a matter oflegislative interest.

Script from the WBAP-TV/NBC station in Fort Worth, Texas, relating a news story of Vice-President of the Texas Offshore Terminal Commission suggests that 400-million plus dollars to be spent not for a Deepwater Supperport off-shore but for an on-shore facilities.

Photograph of the U.S. Army band on stage in Tokyo, Japan. The men are in two rows with the front row sitting behind wooden music stands. All but one of the men wear dark collared uniform shirts and pants. On the far left a man with a guitar stands in a cowboy hat, button down shirt, large belt and cowboy boots. From left to right in the front row is Don Brown, Bill Gravett, Bob Brinker, unidentified, George Kaplan, Gayle Rasmussen, Joe Kost and unidentified. The back row is an unidentified man, Chester Dzierkiewiz, Wes Cain, Tom Powers, Larry Glaser, Ted Niewiadomski, Bill Murphy, Chuck Delula.

Front: Text describes action on various war fronts: USSR, Southwest Pacific, Italy, Air offensive, Yugoslavia. Maps: Eastern front; Netherlands Indies; Southwest New Britain. Photographs: French troops of 2nd Moroccan Division fight in Italy; Half-track loaded with Frenchmen crosses the Volturno; French First Armored Division during maneuvers; B-25 Mitchell bomber; 75mm shell for the cannon on the Mitchell bomber; Japanese destroyer after being hit by shells from the Mitchell bomber; Gen. Bernard Montgomery commander of the British Eighth Army explains battle strategy to Soviet generals: Maj. Gen. Vasiliev and Maj. Gen. Solodvnik. Back: Map showing Japanese controlled areas. Inset maps illustrate Japanese territorial acquisitions over time. Includes "Text of the general statement issued after the Cairo conference attended by President Roosevelt, Generalissimo Chiang Kai-shek and Prime Minister Churchill, together with their respective military and diplomatic advisers."