Word: rfc
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...underwriting community wilted and reeled," reported the sympathetic New York Herald Tribune in telling how Federal Loan Administrator Jesse Jones last week offered to bid for public utility bond issues. "Investment bankers . . . saw the RFC as a potential competitor who could fix terms and rates, and put them entirely out of business...
...second thought, Jesse's plan struck Wall Street as much less alarming. What he had really offered was to backstop SEC with RFC cash if the former gets into trouble enforcing its new competitive bidding rule. Issues involving $100,000,000 or more may prove too big for competing syndicates to tackle, and that is where RFC will step into the picture. Right now there is a case in point: Columbia Gas & Electric's $120,000,000 issue, for which not even Halsey, Stuart has been able to get together a syndicate...
Whether Kaiser can go ahead with his plant program depends on 1) whether the Government will help his financing with a big chunk of RFC cash, 2) whether the Government will give him priorities on the steel he needs to build his plants. With the Army, the President and several busy New Dealers keen for more West Coast steel, he figures he has at least an even chance for both. If not, he hopes that the possibility of new competition will help convince established steelmakers of the need for expansion...
...board of Standard Oil of N. J., a top-notch production man with a knack for getting on with oilmen; Eugene Meyer, millionaire publisher (Washington Post), ex-governor of the Federal Reserve Board. Bernard Baruch's financial right hand on the War Industries Board, ex-chairman of RFC, "Butch" to his irreverent workers; and Roger Dearborn Lapharn, chairman of the board of American-Hawaiian Steamship Co., director of the U. S. Chamber of Commerce, organizer and vice president of the San Francisco Employers Council. From Harry Bridges, West Coast longshoremen's leader, Mr. Lapham won high praise during...
When World War II broke, Promoter Reynolds was convinced that there would be an aluminum shortage. Eleven months later he got his first RFC loan, now translated into a 40,000,000-lb. plant at Lister Ala., which will start reducing bauxite (aluminum ore) next week. Reynolds also is starting on a 60,000,000-lb. plant in the lumbermill town of Longview, Wash., where Bonneville will furnish power aplenty. Now Reynolds is confident that his 100,000,000-lb. output (by next July) plus Alcoa's 690,000,000 will take care of defense needs, adds...