Word: rfc
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...RFC Clipped. The Senate passed a bill to extend the life of RFC for twelve years beyond its June 30 deadline. But the bill, which has yet to pass the House, would cut the agency's maximum lending power from $2 billion to $1 billion...
Like many another once bankrupt railroad, the Cotton Belt had found solvency in the war boom. The Southern Pacific Co., which owns 87% of the Cotton Belt stock, helped out by taking over the Cotton Belt's $18 million loan from RFC. But shippers along the railroad's wandering right of way gave a good deal of the credit for the comeback to the Cotton Belt's 70-year-old president, stubby, white-haired Frederick William Green...
Changing Tune. The bill would not answer all objections to ERP. Bob Taft still thought the size of the appropriation should be cut. Indiana's Homer Capehart wanted to handle all foreign aid through an international RFC. Nevada's George Malone was still laboring doggedly to kill ERP outright. House committeemen were still to be heard from...
...high-altitude "3-0-3" passenger plane, designed for short hauls, has been shelved. Reason: lack of orders and working capital. The Martin Co. expects to have an operating loss of $36,000,000 this year. Despite tax carry-backs of $20,500,000 and an RFC loan of $26,775,000, the company has just enough working capital on hand to fill Martin's military orders and continue the production of the "2-0-2," a slower, non-pressurized version...
...interim aid bill authorized the Administration to spend up to $597 million this winter. This week, it was approved by both the Senate (by voice vote) and the House (313 to 82). Pending actual appropriations, aid could be started immediately with a loan of $150 million from the RFC...