Word: rfc
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...money, but what the railroads do with it. So far, they have not dribbled it away. In the last two years long-parched stockholders got $360,000,000-about 50% of the 1940-41 net. In the same two years the roads repaid $117,529,000 to PWA and RFC, thus cutting their Government debts to $455,244,000, less than half their total original borrowings. Moreover, many a railroad learned well the No. 1 lesson of the '30s: that fixed charges, if not reduced in good times, are the surest way to go broke in bad. Southern Railway...
...special remember-the-dealer House hearing in Washington, tough Leon Henderson promised relief. Under the coming rationing scheme dealers will get full list price, plus up to $75 per car for "handling and delivery." Furthermore, RFC this week announced it had earmarked $100,000,000 for loans to dealers. This will prevent any gouging by banks and finance companies holding dealer notes...
...foresighted industrial consumers. Meanwhile the U.S. Government took precautions: > Month ago, 0PM forbade all deliveries to industrial users and wholesalers of any more sugar than each took in the corresponding 1940 period. (This order was the main reason for such retail and industrial rationing as has occurred.) > Last week RFC's Defense Supplies Corp. was all set to sign up with Cuba for the largest sugar order ever: $200,000,000 worth, 3,450,000 tons. This is 80% of Cuba's total 1942 crop. > OPA raised its ceilings on raw and refined sugar about...
...those businessmen who had money left over after taxes for investment, they also found little use for it. The underwriting fraternity siphoned $1,000,000,000 into new private investment, which would have been a respectable sum in a less prosperous year. Meanwhile RFC had by Dec. 1 poured $851,000,000 into new plants and enterprises for defense. Jesse Jones was no longer a village banker preoccupied with risk and interest rates; he was putting the Government into the munitions business, partly because it was no kind of business for private investors. But meanwhile private investors found other outlets...
...When expansion plans were afoot last year, she was in a Wichita hospital having her second baby. But she had a direct hospital-plant telephone and the directors met at her bedside. Later she and two associates went to Washington, got Emil Schram to okay a $13,540,508 RFC revolving credit...