Word: rfc
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...Washington last week undramatic RFC Administrator Jesse Jones made no flowery speech as he handed over the money (although he did say, eloquently for a banker, "They can buy everything that humans need in everyday life"). Nor did modest K. P. Chen, Chinese banker who negotiated the 1936 U. S.-Chinese (gold-silver) agreement, the 1938 $25,000,000 Export-Import Bank loan, hail the new loan for the victory it was. Mr. Chen wanted to keep out of the limelight, minimize his part in the proceedings and get back to China as soon as possible. But because the European...
...counsel to AAA, he had led the revolt of consumer-minded, non-agrarian New Dealers that ousted George Peek. Less than two years later he was himself ousted in a similar revolt against the more durable Chester Davis. Rex Tugwell, his friend and sponsor, quickly got him placed in RFC. Thence he moved to PWA, for which he won the Alabama Power case against the late great Newton D. Baker. By 1937 he was back in private practice, had earned $38,000 helping reorganize Missouri Pacific...
...Lufkin's paper) from a new $6,000,000 newsprint plant, built by Southland Paper Mills, Inc. outside of Lufkin. Southland Paper was financed by sale of $1,742,000 worth of stock (of which Southern newspaper publishers took $425,000) and a $3,425,000 loan from RFC. His publisher-stockholders contracted with President Ernest Lynn Kurth, onetime lumberman, to take his entire output for five years...
...because foreign newsprint is duty-free and hence can go a long way to meet a domestic price, all this failed to alarm Canadian newsprint makers. Meanwhile, the South was already trying for its second newsprint plant. Tennessee Valley Paper Mills, Inc., promised a $2,500,000 loan from RFC, was trying to raise an equal amount from private investors...
...this black period of its 30-year existence Graham-Paige could have taken the easy way of bankruptcy. Instead, it: 1) got a $2,000,000 RFC loan; 2) raised an additional $300,000 from private sources; 3) made a deal with ailing Hupp Motor Car Corp. (1939 production: 1,000 cars...