National Presto Industries, Inc.

This renegotiation case comes before the court on plaintiffs’ motion for leave to substitute a bond as security. After considering the motion, without oral argument, the court concludes that the motion should be granted.

In May 1976, the Renegotiation Board determined that plaintiffs had realized $25.4 million in excessive profits on negotiable contracts performed in fiscal years 1967 through 1972. Under the Renegotiation Act of 1951 (50 U.S.C. App. § 1218, Supp. V 1975), a person who wishes to seek a redetermination in this court of a Renegotiation Board determination of excessive profits has…