Word: rfc
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...legislation to continue the Price Control and Stabilization Act and to extend Selective Service without amendments restricting the use of 18-year-olds in combat unless they have had prescribed periods of training. ¶Made his first major appointment-close friend John Wesley Snyder, St. Louis banker and former RFC official, to be Federal Loan Administrator (see THE ADMINISTRATION...
...assistant to the directors of RFC...
...replaced. Possible successors: California's Edwin W. Pauley. hustling treasurer of the Democratic National Committee; or John Wesley Snyder, rotund, 48-year-old St. Louis banker, close friend of the President, former executive vice president and director of the Defense Plant Corp. in Jesse Jones's RFC. (Snyder, said Washington speculation, might first become Federal Lean Administrator, succeeding Fred Vinson...
...project the Government had designed to promote postwar prosperity, the five-month-old Industrial Development Bank, made a progress report last week. The bank, a kind of little-business RFC, has thus far made 33 loans totalling $1,340,500-to 20 different kinds of manufacturers (including paper, textiles, ceramics, glass), in most cases for expansion of plant or for new machinery...
Slowly but steadily, the RFC money was repaid until, at the outbreak of World War II, the Government held but $8,750,000 of its original $12,500,000 preferred stock in G.M.'s bank. As deposits doubled & redoubled, somewhat surprised General Motors executives found that their bank, which they still planned to abandon at the end of the emergency, had become the keystone of Detroit's financial structure...