First Billion

After months of backfiring and breakdowns, the complex surplus property machinery of the Foreign Liquidation Commission finally seemed to be running right. This week the FLC, which handles sales abroad, proudly reported that between March 31 and June 30 it had sold over twice as much surplus property as in the previous year of operations. And it had brought in about 30% of the property's original cost, far more than had been hoped for during the FLC's bumbling early days.

The total amount of property thus far declared surplus had an original value of $6,163,637,000. It was scattered over more than 80 countries and on 30 island groups. Much was battle-worn and deteriorated. Some was once thought nonsalable. Yet FLC had disposed of three-fifths of the amount on hand--for $1,009,000,000 (including $98,000,00 worth transferred to UNRRA).

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