AVIATION,WALL STREET: Faith in the Future


Planemaker Donald Douglas again made important news in the U.S. aircraft industry. From 17 U.S. banks he got a credit of $75,000,000, to finance the building of postwar planes. Unlike other big credits to planemakers, this one was not guaranteed by the Federal Government. As such it was: 1) the biggest unguaranteed credit ever extended to a planemaker; 2) tangible evidence of Donald Douglas' faith in the future.

Said one Douglas bigwig: "We're not going to build busses or sewing machines or washtubs after the war. We're going to build airplanes."

Best guess...

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