J 
23 July 1938 
U.S.S. HOUSTON 
y- 
23 July 1938 
A correspondent stated that rumors still were around regarding 
an agreement to stabilize the pound and the dollar. The 
Secretary responded that he had not heard anything new on this 
subject from this department or from an3^ other department of 
the government. 
TP 
Toreign Service Regulations: 
The Department yesterday issued 'the following press release: 
"The President on Juljr 14, 1938, signed executive order #7,927 
establishing the ’Foreign Service Regulations of the United 
States*. Under this authority the department will consolidate 
and revise into one set of regulations the two regulations which 
are known as ’Instructions to Diplomatic Officers of the United 
States’ and the ’Consular Regulations of the United States’. 
This revision is one of the final steps taken b ■* the Department 
in merging the diplomatic service and the consular service into 
the one group known as the foreign service, a process initiated 
by the Rogers Act in 1924. A foreign service officer has been 
assigned to the department for the purpose of revising and 
reprinting the regulations. It will be recalled that during 
the past year the work was completed of granting to foreign 
service officers dual commissions as diplomatic and consular 
of ncer" . 
BUSINESS 
Secretary: 
Chairman Douglas announced Wednesday that the Secretary would 
begin hearings August 8th for the interpretation of the Utilities 
Power and Light Corporation under the "Death sentence” clause 
of the holding company, act of 1935. The corporation, with sub- 
sidiaries in ten middle western and two New England states, is 
now undergoing reorganization under the Federal Bankruptcy Act. 
Chairman Douglas was reported to have stated that the proposed 
action did not represent a change in the policy of cooperation 
with the utility Industry and that no similar measures were 
contemplated toward other companies. 
Acting Sec, Johnson: 
«• 
Reporting yesterday on business conditions, Acting Secretary 
of Commerce Johnson declared that industrial production had 
experienced some recovery in July after apparently touching 
bottom in May and June. He was quoted as sa 3 r ing: "Definite 
figures bear out the earlier promises”. The acting Secretary 
mentioned seasonal Increases in steel operations, machine tool 
orders, automobile assemblies and mill consumption of cotton 
as favorable factors in the current situation. 
U.S.H.A. : 
Housing administrator Strauss Wednesday announced presidential 
approval of contracts totaling $4-3,458,000.00 for slum clearances 
and low rent housing facilities in 13 cities. It 'was stated that 
the contracts would involve the construction of 9,650 family 
dwelling units for over 38,500 slum residents. 
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