Word: rfc
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...voted for: 18th Amendment (1917), Volstead Act (1919), Soldier Bonus (1924), Reapportionment (1929), Hoover moratorium (1931), Muscle Shoals (1931-33), RFC (1952), Bonus (1932), Repeal (1933), Economy Act (1933;), 16-to-1 silver (1933), AAA (1933), NIRA (1933), abrogating gold contracts (1933), St. Lawrence Waterway (1934), Cotton Control (1934), stock exchange regulation...
...Federal Emergency Relief Administration has doled out $31,500,000 to pay 50,000 teachers, keep 500,000 pupils in school. Public Works Administration has spent $112,662,151, and Civil Works Administration many another million, on building, repairing and beautifying schools. RFC has earmarked $75,000,000 for loans to school districts with which to pay their teachers' back salaries. But all this, complained the pedagogs, has come under the head of unemployment relief, while they want the Federal Government to acknowledge outright its duty to support schools. That, President Roosevelt apparently has no intention of doing...
When it was over the White House announcer declared that President Roosevelt had just broadcast his 36th radio address since taking office. But to most listeners his speech was his first heart-to-heart with the country at large since last October when, hopeful of price-upping, he started RFC on its fruitless gold-buying campaign (TIME. Oct. 30). What the President had to say last week from his oval study was in the nature of a review of the winter's work and a cheery farewell on the eve of his Pacific vacation. His smooth round voice...
...from the Securities Act, though its underwriters were subject to the equally drastic Investment Bankers Code. The prospectus issued by Kuhn, Loeb contained Pennsylvania Railroad's condensed income statement for ten years and a letter from President William Wallace Atterbury reporting that the railroad is not indebted to RFC or the Railroad Credit Corp., has no outstanding bank loans. Kuhn. Loeb purchased the bonds at 95, will offer them to the public this week at 97½ and interest...
Meanwhile, Chairman Jesse Jones announced a set of regulations to govern RFC loans to industry under the new law, which authorizes total RFC loans of $300,000,000, Federal Reserve Bank loans of $280,000,000. The law stipulates that adequate security must be put up, that no loans may be made to a company if it can borrow from commercial banks. Chair-man Jones's regulations were even more stringent: 1) Loans will be made primarily to supply working capital as opposed to fixed capital, but may not be used for large scale expansion or to finance exports...