WITH THE EDITORS.

The article focuses on issues related to law in the U.S. Section 20b, added to the U.S. Interstate Commerce Act in 1948, enables railroads voluntarily to readjust their security structures and thus, among other things, avoid financial difficulties threatening bankruptcy or receivership. It is common practice for manufacturers to offer new products during a limited introductory period at a price lower than that which they expect ultimately to prevail. The law practitioner's chief need is a guide for drafting the agreements so as to effectuate the clients' desires with a minimum of attendant dangers.