Now that RFC has a new and vigorous boss, a lot of skeletons are coming out of the closet. Last week, Administrator W. Stuart Symington opened the door on what looked like the biggest, ugliest skeleton of all: RFC's $87 million loan to the Baltimore & Ohio Railroad, largest ever given to any U.S. railroad, during the regime of Jesse Jones. In the last eight years, the B. & 0. has paid back only $6,800,000, although the road is fat with profits. (Other roads have paid back 80% of their RFC loans.)
The skeleton was first glimpsed by New Hampshire's...
To continue reading:
or
Log-In
