Word: rfc
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...Author: Herbert Hoover. Chairman: Jesse Jones) from next June 30 to June 30, 1941. After House Republicans had failed to beat the bill, in the Senate Michigan's Vandenberg precipitated hot debate by objecting to an increase of $20,000,000 in the capital of Disaster Loan Corp. (RFC offshoot). At length a clerk informed the sheepish Senate that it had already settled that issue when it passed RFC's life-extension on the unanimous consent list some hours before...
...contracts of the Department of Public Welfare for insane asylum buildings at Milledgeville and other projects, turned up one with Robert & Co. which promised the firm 6% (some $300,000) for "architectural and engineering services." Finding that the services consisted partly of help in securing a $2,200,000 RFC loan and $1,800,000 PWA grant for the project, the committee balked. The Georgia House passed a resolution calling for cancellation of the Welfare Department's contract with Robert & Co. Representative Delacey Allen baldly accused Chip Robert of "stealing" $45,000 of the taxpayers' money, snorted...
Three years ago American Airlines financed the purchase of some Douglas DC-3s and DSTs largely by equipment trust certificates sold to RFC. But Pan American had to seek no such professional giver of largess. It sold $2,500,000 worth of 4% certificates, maturing semiannually from January 1940 to January 1944, to the hardheaded New York Trust Co., has an option to sell it another $1,000,000 worth...
...Boys. Felix Frankfurter's notes recommending young lawyers-over a scrawled "FF"-fluttered into Washington long before the New Deal (Corcoran, for instance, was a gift to Hoover's RFC). The fact that 125 "happy hot dogs" are in Washington today spurred General Hugh Johnson to call Professor Frankfurter "the most influential single individual...
Last week the six railroaders echoed the Splawn recommendations for repeal of land-grant freight rates for Government traffic, creation of a Transport Board to supervise all transport, creation of a special railroad court to handle reorganizations, loosening of RFC purse strings, and relieving ICC of the necessity of certifying that roads borrowing from RFC are not in need of reorganization. Only major additions were pleas for a flexible rate structure adaptable to changing business conditions, for equal taxes on competing forms of transport, for terminating ICC sponsorship of consolidations...