GOVERNMENT: RFC Reports

The Reconstruction Finance Corp., which has burned its financial fingers several times recently, had more bad news for Congress. In the fiscal year ending June 30, RFC reported last week, it will lose about $2,000,000 on operations of its synthetic rubber plants (v. a $6,000,000 profit in the last fiscal year), and it expects to lose another $6,000,000 in the next fiscal year. Reason: manufacturers are using less synthetic and more natural rubber than before.

RFC's tin operations were also turning sour. After a $9,000,000 profit in the last fiscal year, RFC expects to lose $8,000,000 this year on the tin...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!