Word: fahey
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Dates: during 1940-1949
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Robert J. Fahey of 3 Essex Rd., Belmont; Belmont High. Chester V. Ford, Jr., of 23 Aberdeen St., Boston; Boston Public Latin. James H. Freeman of Willbraham Academy, Wilbraham; Wilbraham Academy. Paul Fruit of 28 Ransom Rd., Brighton; Boston Public Latin. Sumner J. P. Germain of 48 Sewall St., Lynn; English High, Lynn. Thomas J. Gill of 159 Chestnut Ave., Boston; Boston Public Latin...
Most government excursions into the field of private enterprise have cost taxpayers money. So when the Home Owners Loan Corp. was created, Congressional sibyls prophesied that the Government would lose at least $1 billion. Last week HOLC's spry old board chairman, John Henry Fahey, produced figures to show how wrong they had been. When HOLC is finally liquidated in 1948, he said it will show a net profit of some...
...borrowers were still on the books, while another 348,000 borrowers had paid their loans in full without waiting for them to mature. HOLC had foreclosed on less than 200,000 loans, most of them from 1937 to 1940. It has already sold all but 120 of the houses. Fahey says its net loss of $50,000,000 to the end of 1945 will be more than covered by HOLC's income from other loans...
Gloomiest observer was the Federal Home Loan Bank Administration. Over & over again during the past two years FHLB Commissioner John H. Fahey has warned that every type of financial insti tution has been making "reckless" loans, that the "unsound wartime realty boom" could have but one end: a postwar wave of foreclosures that might make the last depression look like a sideshow...
...Fahey's Ships is published at 1265 Broadway Manhattan. Price $1. A new edition of Jane's' just out in England, will soon be published by Macmillan...