Word: rfc
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...Step into my parlor and I will buy some of your preferred stock." So the RFC urged U. S. bankers last September. By last week over 4,500 banks had stepped into the RFC parlors. Only a few big banks had, like Manhattan's cautious First National, declined the invitation in toto. Most of the other big city banks at least put one foot into the parlor by selling the RFC a minority stock interest. But Chicago's Big Continental Illinois National Bank & Trust Co., trusting Jesse Jones's oft repeated promises that the RFC would...
some new faces and new ideas in Continental would be helpful and," Mr. Jones himself added, "the RFC is making no recommendations for changes in the official force of the bank. That will be the responsibility of Mr. Cummings and the directors...
...directorships not one is on the board of a bank. One of them, however, is on the board of American Car & Foundry Co. of which William Woodin was head. That contact seemed to explain why Mr. Cummings was made president of Federal Deposit Insurance Corp. The RFC in its announcement listed among his other qualifications the fact that he "enjoys the personal friendship of President Roosevelt, Secretary Morgenthau and the Comptroller of the Currency J. F. T. O'Connor...
...visitors in his parlor take too much alarm Jesse Jones hastened to send word to the stockholders of Chicago's First National who met last week to confirm the sale of $25,000,000 of preferred stock to the RFC (an amount precisely equal to their own holdings). His pledge: the RFC would not interfere in the choice of a chairman for their bank, a job that is also vacant. The First National stock- holders believed him, voted to sell the preferred stock...
...asked the Fords to permit the freezing of $7,500,000 of their deposits in Union Guardian Trust Co., asked them to put up $5,000,000 capital for a new mortgage company which was to assist in getting a $49,000,000 loan for the Guardian from the RFC...