COMMITTEE ON PUBLIC WORKS JENNINGS RANDOLPH, West Virginia, Chairman EDMUND S. MUSKIE, Maine B. EVERETT JORDAN, North Carolina BIRCH BAYH, Indiana JOSEPH M. MONTOYA, New Mexico THOMAS F. EAGLETON, Missouri JOHN V. TUNNEY, California JOHN SHERMAN COOPER, Kentucky J. CALEB BOGGS, Delaware HOWARD H. BAKER, JR., Tennessee ROBERT J. DOLE, Kansas J. GLENN BEALL, JR., Maryland JAMES L. BUCKLEY, New York LOWELL P. WEICKER, JR., Connecticut RICHARD B. ROYCE, Chief Clerk and Staff Director J. B. HUYETT, Jr., Assistant Chief Clerk and Assistant Staff Director BARRY MEYER, Counsel BAILEY GUARD, Minority Staff Director TOM C. JORLING, Minority Counsel Professional Staff Members: JOSEPH F. VAN VLADRICKEN, LEON G. BILLINGS, RICHARD D. GRUNDY, HAROLD H. BRAYMAN, JOHN YAGO, RICHARD W. WILSON, PHILIP T. CUMMINGS, JUDY PARENTE, RICHARD HEROD, and CLARK NORTON SUBCOMMITTEE ON AIR AND WATER POLLUTION EDMUND S. MUSKIE, Maine, Chairman JENNINGS RANDOLPH, West Virginia JOSEPH M. MONTOYA, New Mexico J. CALEB BOGGS, Delaware JOHN SHERMAN COOPER, Kentucky J. GLENN BEALL, JR., Maryland CONTENTS Pope, Carl, Washington representative, Zero Population Growth, Inc. Reid, Miss Barbara, legislative director, Environmental Action, Inc., Taylor, George H. R., economist, research department, American Federa- tion of Labor and Congress of Industrial Organizations, accompanied by Chisholm, William H., American Paper Institute; accompanied by Matthew Rill, James, attorney-at-law, Collier Shannon, Rill & Edwards_ Venema, M. P., chairman, Environmental Quality Committee, National Association of Manufacturers; accompanied by Dr. J. W. Haun, vice president and director of engineering, General Mills, Inc.; and Daniel W. Zwick, David R., student, Harvard Law School. Fogarty, John, chairman, Municipal Securities Committee, Investment Bankers Association; accompanied by: Thomas Masterson, Underwood, Neuhaus & Co., Inc., Houston, Tex., chairman of Municipal Federal Legislative Committee; Robert Harkness, president, Adams, Harkness & Hill., Inc., Boston, Mass.; and John Petersen, director of municipal Walker, Hon. Charls E., Under Secretary of the Treasury; accompanied 744 713 719 724 757 WEDNESDAY, MARCH 24, 1971 Gammelgard, P. N., American Petroleum Institute; accompanied by Paul Nelson, Hon. Gaylord, a U.S. Senator from the State of Wisconsin_. Page 1089 1017 1059 1047 1051 Sercu, Charles L., chairman, Water Resources Committee, Manufacturing APPENDIXES TO DAILY PROCEEDINGS American Water Works Association: News release, March 18, 1971- 653 APPENDIX-MARCH 22 National Association of Manufacturers: Official policy position.. 751 752 APPENDIX-MARCH 23 Letters: Chairman Muskie/William R. MacDougall, executive director, 859 859 Letters: Chairman Muskie/Clifford C. Sommer, president, American 860 Letter dated May 20, 1971, to Chairman Muskie from Hon. Nelson A. 862 Letter dated March 16, 1971, to Chairman Muskie cosigned by Senator 862 Testimony supporting S. 601 supplied by L. Bennett Coy, general manager, Miami (Ohio) Conservancy District... 863 Letter dated June 2, 1971, to Senator Eagleton from Cyril V. Smith, Jr., 869 870 The Economic Consequences of the Exclusion of Bank Competition APPENDIX-MARCH 24 Manufacturing Chemists Association: Letter dated April 30, 1971, to 873 885 901 1159 Investment Bankers Association: Correspondence between Senator 1161 ADDITIONAL MATERIAL Supreme Court Decision: Ohio v. Wyandotte Chemicals Corp., et al.; Page 1094 Report on Air and Water Conservation Expenditures of the Petroleum 1119 Clapper, Louis S.: Statement presented at hearing of Subcommittee on the Environment, Senate Commerce Committee, February 19, 1971, re Refuse Act of 1899__ Committee for Study of Revenue Bond Financing: Letter dated February 13, 1970, to Senator Bayh from William A. Enclosure: "Loophole in Housing and Urban Development Act,' Statement on Proxmire amendment.. 688 771 773 794 "Our Vanishing Water Supply", by Senator Jennings Randolph, from Pathway, March 1971.. 733 Hart, Hon. Philip A.: "Mine Wastes Peril Superior, Last of Clean Lakes", by Saul Friedman: Article from Detroit Free Press, March 14, 1971. Letter dated March 1, 1971, to Hon. Russell E. Train, chairman, Letter dated February 26, 1971, to Hon. William D. Ruckelshaus from 1022 1024 1026 Letter dated February 26, 1971, to Hon. Russell E. Train, from hearings of February 18 and 19. 1028 Investment Bankers Association of America: Letter dated April 15, 1971, to Chairman Muskie from John Petersen with enclosure... 809 Department of Treasury memorandum: "Response to major 809 812 Attachment: "Technical and Administrative Problems With the 822 Appendix A. Table-Statutory interest rate ceilings on State and 836 Appendix B. Remarks by Murray Weidenbaum before the 837 Table: Selected interest rates for municipal securities and U.S. 841 Selective remarks by Henry Wallich regarding Federal credit 842 Remarks by former Secretary of the Treasury David Kennedy Supplemental statement in opposition to amendment No. 8 to S. 523 MacDonald, Reynold C.: 843 844 851 Examples of attempts of various firms to secure Corps of Engineers permits. 1065 Legal memorandum relating to certain aspects of S. 523, S. 1014, Questions and answers: Senator Boggs/Mr. MacDonald. Views relative to independent organization for environmental standards setting-- prepared by Collier, Shannon, Rill, and Edwards, attorneys at 1071 1081 1084 1087 Pankowski, Ted: Letter dated December 21, 1970, to President Nixon from J. W. Randolph, Hon. Jennings: Page 671 Excerpt from Congressional Record, April 1, 1971, on S.J. Res 80.- 1055 Sercu, Charles L.: Questions and answers. 1157 Walker, Hon. Charls E.: Excerpt from Report of the Advisory Commission on Intergovernmental Relations, "Federal Approaches To Aid State and Local Capital Financing," September 1970. 760 Letter dated February 3, 1970, to Senator Baker giving views on State and municipal revenue bond underwriting by commercial banks. 769 Determination of EFA's lending rate. Table 1. Average market yields on Treasury corporate and Table 2. Taxable and tax-exempt bond yield relationships... 777 777 778 averages. 778 Table 4. Municipal bond total issuances and percentages by 779 Table 4a. Municipal bonds general obligation issuances by rating, 780 Table 4b. Municipal bonds revenue bond issuances and per- 780 Eligibility for EFA loans. 781 Table: List of State constitutional and statutory limitations in Extent of EPA involvement in determining project eligibilityZwick, David R., supplemental comments... |