vr. dames ours. FY. For Hume ineteance “The this statement renegotiation is made: act and the directives therewith contemplate the @liminmation of the of an agreement voluntarily entered medium contractor Price and the adjustment and faix it is far Department Sections, Frice after an consideration of the fundamental that no equitable excessive exchange probieme of profits through between the Board of the a fuli into adjustment of the in connection views and particular agreement can be contractor. consummated the application of s general formula or yardstick. Hence, policy narrowest of possible before the Board mergin, Federal but compensation tion, invested not to reduce to allow taxes, able assumed, is each equivalent in the capital, light contributions The ultimate test is and exeeaas profits to be or change the before tams effect of have Little strict fore ae to will the that contractors inventive to the computed provide volune reason- of produc- contributions, riske prearecution of war.**** what ie a fair prefit before Federal income taxes. increases in tax rates, while a factor should not affect the principles of renegotiation coneideration frem what would be a fair profit to shat would after taxes.**** The Income and the or no would impair a sum the bagic adherence taxes the a profit, efficiency, other te contractor to of and considered, profite by ite tax to be a fair exeess base is profit profits tax frequently so the principal of in sowe instances leave incentive, and SCHOLEFIELD,WELLS CERTIFIED PUBLIC under & BAXTER ACCOUNTANTS on companies severe, considering so little theee which however, only for that profite the be~ company circimsetances the pro-