Business: RFC into Tunnel

Last week for the first time since the War the Federal Government took over a private U. S. railroad. More significant, it was the Government's first direct move to exercise its power as the railroads' biggest banker. Holding most of the stock of Denver & Salt Lake ("Moffat Line''), as collateral against RFC loans, RFChairman Jesse Jones ousted the old road's management, put in as president, Judge Wilson McCarthy of Salt Lake City, a onetime RFC director. Adolf Augustus Berle Jr., the RFC's railroad counsel who is now chamberlain of the City of...

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