The RFC placed a bet of $12.5 million last week on a new kind of house to help lick the shortagea prefabricated one of enameled steel. The cash, in the form of a loan, went to Chicago's Lustron Corp., which had asked RFC for a maximum, of $52 million last fall to finance building of veterans' houses (TIME, Nov. 11, et seq.). Then, RFC had turned Lustron down flat on the grounds that Lustron was putting up too little of its own capital ($36,000), stood to make a 14,000% profit. Lustron also tried and failed to get the Government-owned...
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