Word: rfc
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...extension of the rural electrification program; hospital and sanitation facilities . . . expansion of public housing." President Roosevelt referred specifically to the idea of U. S. investment in railroad equipment and said what was being studied was the method of handling it: by loans, or through a new Federal corporation (within RFC) which would keep title to the equipment, lease it to the roads...
...revision (see p. 16). Majority Leader Barkley assured his Senate mates that the program, whatever shape it might finally take, would not be dumped sensationally into Congress' lap this session. The way for it might be paved simply by extending the authority of existing agencies, such as RFC...
...Democrat Pius Schwert of Buffalo introduced in the House a bill echoing one introduced in February by his fellow townsman, New Dealing Senator Mead: to give RFC's Jesse Jones authority to insure bank loans to small business...
When Franklin Roosevelt journeys from Washington to Hyde Park, he generally takes the Baltimore & Ohio R. R. It is his favorite passenger line and its 78-year-old president, Daniel Willard, is his good friend. Genial Dan Willard is also the good friend of RFC Chairman Jesse Jones and has many a warm admirer in Congress, where he is regarded as a liberal with a good railroad labor record. In the last year and a half this widespread affection for President Willard is about all that has saved the sore-pressed B. & 0. from reorganization...
...January 1938, unable to borrow anywhere else, it got $8,233,000 from RFC to pay its wages (it already owed RFC $80,000,000). In June, without collateral for another loan, it met a $1,700,000 debt only because Jesse Jones arranged for PWA to buy the road's run-down Chesapeake & Ohio Canal, unused for 15 years, for $2,000,000. Last November the Interstate Commerce Commission allowed Dan Willard to cut his fixed charges $11,000,000 a year by persuading the bondholders to accept an eight-year moratorium on interest payments. Last week...