Stringent provisions of the stock market control bill were relaxed further today by House and Senate committees.

A House interstate commerce subcommittee voted to reduce basic margin requirements from 60 to 45 per cent. It also voted to delegate to the Federal Reserve Board the power to raise or lower the margin requirements.

The Senate banking sub-committee, also considering the bill, already has voted to strike out the section fixing margins and to leave this entirely to the proposed Federal Securities Exchange Commission.

A Congressional inquiry into the manufacture and traffic in arms, munitions, and other war implements was ordered by the Senate today.

Without record vote, the Senate approved a resolution by Senators Gerald P. Nye, (R) N. D., and Arthur Vandenburg, (R) Mich., authorizing appointment of a committee of seven by Vice-President John N. Garner to conduct the investigation.

Administration leaders in the House moved today to choke off the mounting Congressional demand for inflation.

Their first maneuver was directed against the McLeod Bill for payment of depositors in closed banks at a cost of hundreds of millions or perhaps billions of dollars in government funds. It is probably the most heavily backed of the inflationary measures now pending.