Word: rfc
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...Vans' C. & E. I. shenanigans to light. Although the Vans were by then out (dead, in fact), the revelations left ICC in no friendly mood toward Mr. Steere. The other reason was Jesse Jones, who did not share Mr. Steere's optimism about the plan. By then RFC had become a big creditor...
...really return to private control. Probably 1937 was its last chance to do that. When it left court jurisdiction last week, it entered that of Emperor Jesse Jones's RFC...
...years later, to repay $700,000 it owed to the C. & O. System, C. & E. I. got a loan from RFC. To keep the loan's purpose from ICC eyes, the Van Sweringens had to resort to further camouflage. At length, in 1933, C. & O. let its secret ward drift into the courts...
...second effort to reorganize was a bondholders' plan - and there was no doubt as to who the No. 1 bondholder would be. Just to make sure, Jesse Jones put his own man on the three-man reorganization committee - RFC's John Bar-riger, who went in to keep watch over Stockholder Steere and Bondholder Shanks. Their plan, under which C. & E. I. last week left court, wiped out the common, left RFC on top. Capital structure was deflated from $85,000,000 to $61,-000,000, fixed charges were cut from...
...Three RFC representatives were named to C. & E. I.'s new board. One of them, John Barriger, also becomes a member of the executive committee. Young (41), baby-faced John Barriger is a railroad fan who learned to wear cufflinks and stiff collars at Kuhn. Loeb. A bright young man to old Wall Streeters, an outsider to New Dealers, he has two pet railroad theories: 1) their maintenance of way badly needs modernization, 2) they sorely need consolidation. Wall Street, he feels, was on the way toward consolidating them until Teddy Roosevelt's trustbusting put a stop...