Word: rfc
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...August 1, Chairman Jesse Jones admonished all RFC employes to abstain from active politics, except voting. Presumably exempted: Special RFC Counsel Tommy Corcoran, top political cowboy for the White House, who does his campaigning not among voters but among politicians...
...York. Their names brought to four the list of eminent Democrats along the eastern seaboard publicly consigned to purgatory by the President's Purge. The others: Senators Smith of South Carolina and George of Georgia. To slap the latter further down, the White House last week caused RFC to oust, "for political activities," Senator George's stanch supporter. Edgar B. Dunlap, counsel to RFC's Atlanta office...
When last week's deal was negotiated, eleven Dollar ships were laid up, only four were in commission. To get them afloat again, the Maritime Commission will make a loan of $1,500,000, and get an RFC loan of $2,500,000 for working capital, grant a five-year operating subsidy of some $3,000,000 a year. To the Commission goes all the line's Class B stock (2,100,000 shares), almost half of its 252,000 shares of Class A stock. Six months after the transfer, the Commission will abandon the Dollar name...
Since then the Export-Import Bank. $20,000,000 of whose $21,000,000 capital stock is held by RFC, has lent on three bases: to U. S. exporters of agricultural products, to U. S. exporters whose capital has been pinched by foreign exchange restrictions (i. e., blocked marks in Germany), and, most important, to U. S. exporters who wish to sell capital goods to foreigners who lack cash. Sample deal took place year ago when China bought 20 locomotives and equipment with credits of $1,500,000, half supplied by the Export-Import Bank, half by American Locomotive Sales...
...1920s, then floated three stock issues and two bond issues. By 1935, when U. P. & L. debentures sold as low as 20¼? on the dollar, Floyd Odium's big investment trust. Atlas Corp., bought up enough of them to gain control in a complex deal with RFC. which had its hands on Harley Clarke's key holding company (TIME, July 22, 1935). Harley Clarke was soon shoved out of office and in last week's poker game this toppled tycoon sat quietly on whatever cards he may still hold...