Word: rfc
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...June 1948, Dawson had the President name Willett as one of RFC's five directors. A regular luncheon companion of Dawson's and of E. Merl (Mink Coat) Young's, Willett was willing to do some favors in return. To give big loans to politically correct companies and individuals, he switched RFC examiners and overrode his own reviewers. After the Fulbright committee's investigation of the RFC, the Senate, in February 1951, refused to confirm his appointment...
...trouble. After the trip, Caudle talked to Oliphant about a U.S. tax lien against their host's property, and the lien was removed. Oliphant had accepted one of those $100 cameras handed out to Government officials as a "goodwill" gesture by the now famed RFC client, American Lithofold Corp. The gift was arranged by James Finnegan, St. Louis former Internal Revenue collector who has been indicted for taking bribes. When Oliphant resigned, he provided another item for the list. He made public a personal financial statement listing a $1,300 loan from Henry Grunewald, a mysterious Washington private investigator...
Last week RFC Boss W. Stuart Symington hinted that the Government may lend $75 million to put San Manuel to work to help ease the copper shortage. The loan was requested by little Magma Copper Co., sixth on the list of U.S. copper producers and owner of the San Manuel property. If the loan goes through, as RFC officials expect, Magma's San Manuel production should hit 70,000 tons in the next four years, increasing U.S. copper output by 6%. That would push Magma's total output up to 100,000 tons a year,make the company...
...week C.C.A. President Howard A. Cowden told the delegates about the biggest project ever undertaken by an American coop. To help ease the fertilizer shortage, C.C.A. will build a $16 million nitrogen plant at Lawrence, Kans. with $6,000,000 borrowed from C.C.A. members and the rest from the RFC. C.C.A. will also build a 5,000-barrel-a-day catalytic cracker for its refinery at Phillipsburg, Kans., open $1,000,000 worth of lumber kilns at its mill in Swisshome...
...step was taken by the RFC. It lent $57 million, its biggest loan since World War II, to the White Pine Copper Co., a subsidiary of Boston's Copper Range Co. The money will be used to develop its holdings in the Upper Michigan peninsula,* which are estimated to have reserves of 309,660,000 tons of ore and a potential copper output of 35,000 tons a year. Said Copper Range President Morris LaCroix, who has been after an RFC loan for 13 months: "Now this great national asset will be put to work...