Word: rfc
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Less than a month later Arkansas Public Utilitycoon Harvey Crowley Couch, second largest stockholder in Kansas City Southern (largest: Amsterdam Trust Office, The Netherlands), became its president. Between expanding his inland public-utility empire and working for the New Deal as director of RFC (1932-34), Ozarker Couch had also obtained control of Louisiana & Arkansas. Of that road his younger brother (by 13 years) Charles Peter Couch has been president since Harvey gave...
...fortnight in bitter night sessions to disembowel Franklin Roosevelt's "Great White Rabbit of 1939." The Republocratic coalition, working as smoothly as surgeons, cut open the $2,490,000,000 Spend-Lend Bill and extracted $500,000,000 for toll roads, tunnels and bridges, $350,000,000 for RFC railroad equipment loans, knifed $25,000,000 from a proposed increase in the loan authorization of the Export-Import Bank, then passed it, sending the emaciated Rabbit to the House. The bill, once totaling $3,860,000,000, now stood at $1,615,000,000. California's bulky oldtimer...
Last week the Senate Banking and Currency Committee put new Federal Loan Administrator Jesse H. Jones on the carpet, asked him about the success of Federal lending. To a query about the amount of losses on RFC loans to business, the retiring RFC Chairman admitted: "I am ashamed to tell you what I think it will be. It will be plenty...
That admission became the headache of tall Emil Schram, 45, who became Jesse Jones's successor as RFC Chairman. A successful Hoosier whose business was farming, timber, coal, he was made a member of RFC's board in 1936. From handling RFC loans to needy drainage and irrigation districts he was graduated to manager of RFC's business loan program. On the side he ran Electric Home and Farm Authority (set up to finance the sale of electrical appliances to home owners). One of the most capable members of RFC, his selection was backed both by conservative...
...Perhaps hasty, perhaps piercing, was the conclusion leaped to by some commentators that Mr. Jones was elevated so that RFC's loan rate, which Mr. Jones has kept as near 4% as possible, might be lowered to 2½ % or even 2 %. Heir-apparent to the RFC chairmanship was Emil Schram, a member of Mr. Jones's board of directors since...