Word: rfc
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Ordered the RFC to step up production of synthetic rubber to at least 675,000 tons a year, a jump of 200,000 tons over current output...
Ponderous RFC Chairman Harley Hise sputtered that the loan was made to the very respectable owners of the hotel, who had in turn leased out the gambling rights, in a state where gambling is legal. Though the RFC did not set the house percentages on the roulette wheels, RFC admitted that it had, of course, considered the "take" in deciding to risk the loan...
...Burial? Nobody could prove anything shady or illegal about the Mapes Hotel loan, but neither could anybody prove that the RFC's action looked very smart. There was a more basic question: Was it a proper Government function in boom times to lend money to businesses where private bankers refused to tread? Wasn't RFC too often supporting an army of potential bankrupts, to keep them going against sharper competitors...
...RFC chairmen, Texas' hard-fisted Jesse Jones and pince-nezed Publisher Eugene Meyer of the Washington Post, seemed to think the agency was out of date. Jones had recommended "a decent burial" for RFC. Last week Eugene Meyer's Post added pointedly: "The time has come to abolish the agency, or at least put it on an inactive standby basis to be revived only if an emergency arises...
Hardly had the Post got the word "emergency" out of its mouth before the RFC put it to use. At week's end, it decided to reopen three of its wartime synthetic rubber plants (see BUSINESS). War in Korea had probably prolonged RFC's life as an agency, but its power to make business loans was still in question...