Salt Lake Telegram | 1933-11-14 | Page 2 | R. F. C. Cuts Interest Rate on Rail Loans |

Type	issue
Date	1933-11-14
Paper	Salt Lake Telegram
Language	eng
City	Salt Lake City
County	Salt Lake
Rights	No Copyright - United States (NoC-US)
Publisher	Digitized by J. Willard Marriott Library, University of Utah
ARK	ark:/87278/s60g4t7x
Reference URL	https://newspapers.lib.utah.edu/ark:/87278/s60g4t7x

Article Title	R. F. C. Cuts Interest Rate on Rail Loans
Type	article
Date	1933-11-14
Paper	Salt Lake Telegram
Language	eng
City	Salt Lake City
County	Salt Lake
Page	2
OCR Text	R. R RF F F. F C. C CUTS INTEREST RATE ON RAIL LOANS WASHINGTON Nov 14 H The P Reconstruction corporation today reduced reduced reduced re re- re- re inter interest st on on loans to railroads from 5 to 4 per percent cent a year for the 12 months beginning last November 1 with the understanding that the carriers car car- will wm use the savings to employ additional men during the winter Jesse H H. Jones chairman of the corporation cor con said This action is based d on requests for tor a i 1 reduction In interest rates from froma i a number of railroad executives who have offered to use we the amount of such reduction together with substantial Ual Lial additional funds in making extraordinary ex cx- expenditures during the next six months This would mean expenditures for lor II labor Jabor equipment and material over and ab above Jve th their lr budget for this period in excess of the program presently contemplated by them the ithe purpose being t to help promote the presidents president's recovery program I
Reference URL	https://newspapers.lib.utah.edu/ark:/87278/s60g4t7x/16298643