Word: schram
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That admission became the headache of tall Emil Schram, 45, who became Jesse Jones's successor as RFC Chairman. A successful Hoosier whose business was farming, timber, coal, he was made a member of RFC's board in 1936. From handling RFC loans to needy drainage and irrigation districts he was graduated to manager of RFC's business loan program. On the side he ran Electric Home and Farm Authority (set up to finance the sale of electrical appliances to home owners). One of the most capable members of RFC, his selection was backed both by conservative...
...perhaps piercing, was the conclusion leaped to by some commentators that Mr. Jones was elevated so that RFC's loan rate, which Mr. Jones has kept as near 4% as possible, might be lowered to 2½ % or even 2 %. Heir-apparent to the RFC chairmanship was Emil Schram, a member of Mr. Jones's board of directors since...