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Show K-F Gels Loan For Hew Aufo WASHINGTON, Oct. UP Kaiser-Frasar Corp. borrowed $34,-400,000 $34,-400,000 from the Reconstruction Finance Corp. Thursday, with every indication that the money is to finance a new lower priced automobile. The stated purpose of the loan is to "help complete their line of cars." K-r Is known to bs well advanced ad-vanced oa planning for a new model, reportedly to compete with Chevrolet Ford and Plymouth la the low price bracket The loan is for 10 years at 4, the usual terms ,of ths government lending agency. This la the first time RFC hss lent money to Kaieer-Frazer, though other Interests of Henry J. Kaiser have been getting government gov-ernment financing since early in the war. Hia Fontana steel mill in California, for instance, sow owes RFC a balance of about $90,000,000. .. R F Cs rules require industrial borrowers to try for private financing fi-nancing before they can get government gov-ernment money. In ths past K-F haa obtained big loans from California's Cali-fornia's Bank of America and from the Mellon National bank to Pittsburgh. |