Word: willard
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Dates: during 1930-1939
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Early this, year B. & O. needed cash. Its charges have zoomed steadily for years, now total $32,000,000 annually on fixed obligations of $674,000,000. In January, B. & O.'s resourceful President Daniel Willard got an $8,233,000 RFC loan through his good friend, RFC Chairman Jesse Jones. To get it he had to put up all his available collateral-including the Chesapeake & Ohio Canal, which has not been used for shipping since 1923. Last week, B. & 0. again needed funds to meet $1,700,000 in interest payments due first of this month. No less...
Presumably put through privately by Chairman Jones and Daniel Willard Jr., the deal was as fabulous as it was timely: through RFC, B. & O. sold its down-at-the-heel canal to PWA (subject to a court receivership settlement) for $2,000,000, approximately $1,000,000 above its book value, thereby getting enough cash to meet its interest payments. Exactly what PWA will do with its canal is still uncertain. According to present plans, it will turn the property over to National Park Service, which may restore the picturesque taverns and lock houses flanking the waterway. The 22-mile...
...Simultaneously it was reported that Mr. Willard, 77, dean of U. S. railroaders, now in his 29th year as B. & O. president, might retire this fall...
...Bullen, of Ithaca, and Charles B. Stauffacher, of Washington, D.C.; John Harvard Fellowships to Wilfred Kaplan, of Jamaica Plain, and Edward A. Robinson, of New York City; Shattuck Scholarship to James C.Abbott, of Melrose; Thayer Fellowship and University Fellowship to Herbert Sprince, of Lewiston, Maine; University Fellowships to Willard D. Arant, of Cambridge; William E. Daugherty, of David City, Nebraska, Henry A. Page, III, of Aberdeen, North Carolina, and Earle L. Rudolph, of Arkadelphia, Arkansas...
Wales scholarship, James B. Ford 2G, James Walker fellowship, Arthur F. Smullyan 1G, Christopher M. Weld scholarship, William S. McCauley, Fletcher School. Whiting fellowships to: Alfred H. Kettler, University of Texas. Wayne L. Lees 1G. Willard scholarship, Richard Ballinger, University of Texas. Jay Backus Woodworth fellowship, Ernest E. Wahlstrom, University of Colorado...