Word: rfc
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Pushed toward Congressional action the first of three proposed emergency laws to help the railroads. Reported favorably by the Senate Banking & Currency Committee, this bill would permit RFC to make work-loans to any railroad, with reasonable expectations the only collateral required and without the present necessity for the ICC to certify that the road is not facing reorganization. A bill to create a three-man bankruptcy court for railroads is still being drafted; another permitting land-grant railroads to charge full rates for all Government traffic except Army and. Navy supplies was reported favorably by the Senate Interstate Commerce...
...April 14th message to Congress the President asked for teamwork between Government and Business. Ambitious SECommissioner John W. Hanes, who last fortnight got RFC interested in carrying industrial inventories, took the idea literally, began rounding up tycoons by long-distance telephone. On the President's desk last week he laid a carefully phrased message from 16 of them.* Excerpt...
...committee of ICCommissioners, Splawn, Eastman and Mahaffie, to concoct a remedy for the railroad crisis, specifically said that the question of wages should be left to the railroads. Its other recommendations dealt with ways of lending money to the roads, increasing revenues, speeding reorganizations. Last week, after consideration by RFC Chairman Jesse Jones, Senator Burton Wheeler and representatives of railroad management and labor, these recommendations were out of the "conference stage," on the way to becoming legislative proposals...
Harry Stutz died in 1934. That year Stutz Motor Car Co. made just six cars. It borrowed1 $266,000 from RFC., At last, as a final indignity, it started making door-to-door delivery wagons for butchers and bakers instead of low, fast, flashy cars for racing drivers, and "Bearcats" for college boys. Some of the new commercial models could be driven standing up; even that did not help. Last year the company subsided into 77B, trustees began casting about for reorganization plans acceptable to two-thirds of the creditors. Last week Federal Judge Robert Baltzell gave...
...which had been held up because of the industry's fear of what the Government next might do to it or Wall Street. Whether this expansion is still needed now that power sales have been dwindling for six months is moot, but last week Jesse Jones declared that RFC would be glad to give utilities money for expansion. Said he: "We have heard a lot of talk about the expanding they could do if they got the right kind of money. We have the money and we will lend it to them right. Not for refinancing but for anything...