Salt Lake Telegram | 1934-06-22 | Page 24 | Ford Eligible under R F C

FORD ELIGIBLE UNDER R F C S J v S Cars Can Be Purchased With c Loan Despite Failure v to Sign Code 5 5 WASHINGTON June 22 JP Di Di DiVerse S. S Verse opinions were expressed toda today by reconstruction corporation officials oW oU dials daIs a. a as to whether direct federal loans to Industry could be used for purchasing Ford products Chairman Jones Tones expressed belief that regulations ons imposed at the request request request re- re quest of the N R A do not bar bal purchases purchases pur chases from Henry Ford VI r I do not see he told reporters how this could keep an anyone one from buying a Ford car if he he- wants to Other corporation officials howa however how ever told inquirers to ask the N R A for for for-an an interpretation oll of the regula- regula tion On its face the regulation would bar expenditure of or money moncy borrowed from the corporation with any my firm which does not comply fully full with N R A codes This would include the Ford industries industries indus indus- tries but it was stated unofficially that there was an m understanding that Ford is willing to sign a c certificate of compliance in specific cases and that this has been een held sufficient to meet N R A regulations The Thc corporations corporation's rule covering the N R A includes c executive order issued b by the president on M March 14 under which the comptroller ler ter general has held that purchases b. b by government departments from Ford or any of his agents are arc barred despite the fact that the agents may with codes The reconstruction corporation yesterday esterday began direct lending to industry in under recently enacted legis legis- lation It has for this purpose