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off by making as my first statement today, I am happy to be

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here, I took it upon myself to invite Mr. Slicher along.

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It relieves me to see Benton bringing Mrs. Hoffman with

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him.

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THE CHAIRMAN: It wouldn't seem natural, hardly,

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not to have Jim Slicher or somebody sitting with you.

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MR, RENNIE: He's in a very eminent position.

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He's going to be me soon, I hope. 1 guess a lot of people

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feel that way too, but that's neither here nor there.

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THE CHAIRMAN: Well, you've managed to stay alive

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MR. RENNIE: I told the other people at their

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meeting that I thought over the years I had an open mind.

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If I hadn't had one, I probably wouldn't have lasted this

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long.

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Welt, Mr. Sachs asked us to present a brief

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written statement, which I have done, and I suppose I'll

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start off by reading that to you, and it's very brief.

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"Gentlemen: Mr. Sachs requested in his letter

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of June 3rd, 1965, that persons appearing before the

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Financial Committee on June 9th present a brief written

21

statement of their views. Mine are as follows: