Word: rfc
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Last month The Iron Age reported from Detroit that Stinson Aircraft, having just taken $1,853,451 of Army business, was planning to expand its Wayne (Mich.) plant. Continental Motors Corp., at work (with RFC and new private money) on plane engines, was erecting two buildings at Muskegon (Mich.). A few weeks ago, Pratt & Whitney gave a green light to famed Detroit Architect Albert Kahn, who had blueprints ready on a Wednesday, received bids Thursday on 1,800 tons of structural steel for a plant in Detroit...
Latest Michigan entry into the war game is Hayes Body Corp., which has had a less than mediocre record since 1929, when it lost the job of making Chrysler bodies. Having just refilled its till with about $300,000 of new private money and $450,000 of RFC money, Hayes proposes to pay back this arm of the Government by selling to another arm-the War and Navy Departments. Its new lines: aircraft parts, ordnance, armored truck bodies. To help win a place on Assistant Secretary of War Louis Johnson's clubby suppliers' list, Hayes Body went last...
Willys, licking its chops over an impending $2,500,000 RFC loan, has slicked up its two series (Speedway and De Luxe) this year with deep-skirted front fenders, a beltline chrome strip from front to back. All by itself in the ultra-low field, Willys has dropped its prices 12% to $495 to $620. Improvements: New-type soft springs with rubber-lined clips, counterweight crankshaft, automatic carburetor...
...funds which foreign Governments have for purchases in the U. S. Belligerents who have defaulted on U. S. loans cannot borrow in the U. S. in ordinary ways, but the Export-Import Bank has funds that it can lend to exporters of U. S. products. Last week RFC announced it would be glad to help...
...Church of the Good Shepherd-was ready to deal with the problems of St. Luke's unemployed parishioners. He told them to go into business for themselves. That first group raised $11,000 and within a few months more Rector Colony, their president, had wangled a $15,000 RFC loan. A small vacant mill was bought, 13 ancient knitting machines were put in shape and Colony Hosiery went into production. At first, without working capital to buy silk, Colony Hosiery took orders only on commission. After eight months in business it now buys its own silk, has advance orders...