Looking forward to the postwar re-conversion of American industry, a study released by the Harvard Business School makes several recommendations designed to insure tax refunds to rapidly expanding now plants. J. Koith Butters, assistant professor of Financial Research, and John Lintner, co-authors, based their findings on an analysis of the Polaroid Corporation in Cambridge.

In emphasizing the fact that business in general has earned high profits during the war, the study points out that it is not-larger refunds that are needed, but assurance of their speedy payment. If red tape or inadequacies of the law delay payments to expanding firms, the development of new products, employment, and investment may be seriously affected.

The Business School report recommends several "badly needed" revisions in the actual law to speed up payment of refunds and to insure that the provisions will not be repealed. Immediate action is necessary, says the report to enable America's infant industries to embark safely on expansion programs. These new plants are considered especially important in that they must provide the employment and investment opportunities necessary for postwar prosperity.