The RFC, which has always proved a friend in need for Henry Kaiser, came through last week with a $34.4 million loan for Kaiser-Frazer. RFC said some of the cash would be used to tool up for a complete line of cars. (K-F now makes only four-door sedans.) Detroit also heard that about $5,000,000 would be used to turn out a car for under $1500 to challenge Ford, Plymouth and Chevrolet. Henry Kaiser, who has paid back $67.6 million of his federal loans, now owes the government $149.8 million.
...
To continue reading:
or
Log-In
