Word: rfc
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...summer of suspicion and scandal. The charges of Wisconsin's Senator Joe McCarthy shrilled as insistently as the cicadas in summer's dog days, stirring distrust and fear. Both national chairmen of the nation's major parties stood accused of dipping political fingers into the RFC's bottomless jampot. In the last decade, the U.S. could boast of an enormous stride forward toward racial tolerance and understanding. Yet in Illinois last week, a grand jury of citizens exculpated the men who led the ugly Cicero race riots, indicted instead a man who pleaded for justice...
INVESTIGATIONS Micromorality Sam Butler's Hudibras, who divided "a hair twixt south and southwest side," was no more delicate a micromoralist than some Americans in last week's news. Before a Senate subcommittee appeared Frank Prince, onetime RFC official who was bounced last May for his part in a paper-company loan (TIME, June 4), and the man who appointed the man who approved RFC's $645,000 loans to the American Lithofold Corp. Prince said that Lithofold had given him a $100 camera, perfume, crates of oranges, a turkey and a "small ham." But Prince knew...
...admitted that, as a lawyer, he accepted a retainer of $500 a month from Lithofold, but denied that he took any money after he became a paid official of the Democratic Party. He has also denied that he used his influence to help Lithofold get $645,000 worth of RFC loans, although a Lithofold official testified that the company's first loan was approved three days after Boyle called an RFC official on Lithofold's behalf...
...again defended Boyle; but the President's view of the moral question involved seemed to be based on a different set of facts from Boyle's own defense. Asked at his press conference whether he thought it proper for a party worker to introduce clients to the RFC, Truman said that was O.K.; but it was wrong to take a fee for such a service, whether the party man was a paid or a voluntary party worker. In reply to another question, the President said he was under the impression that Boyle had not taken any fees from...
Successful Phone Call. Someone at the conference-Toole couldn't remember who-mentioned the magic name of Bill Boyle, now chairman of the Democratic National Committee. The American Lithofold people went to Boyle's Washington office. Boyle called Harley Hise, then RFC chairman, and said, "Harley, I have some friends in the office here of Jim Finnegan's. I would like for you to arrange to see them this afternoon if possible in connection with a loan." Toole recorded in his diary that, three days after this phone call, the loan application reached a "strange, strenuous...