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Human Events
1710 Rhode Island Ave., N. W.,

A Weekly Analysisfor the American Citizen


D. C.


NATIONAL 2 0 6 6

May 3, 1951
Dear Mr. Eccles:
Senator Harry F. Byrd advises me that i n your testimony
before the Senate B anking and Currency Committee, A p r i l 27, you dealt
with the subject of extremely risky loans made by HFC*
Some time ago I had occasion to see a couple of financi a l statements of concerns who had borrowed from this agency. Both
were, from a credit man1s point of view, insolvent concerns.
Since then I have wanted to write an a r t i c l e on the
subject. That f s why I wrote the Senator i f any study of the loans
had been made of the solvency of RFC^ borrowers. He refers me to
you. I don f t suppose that there i s available a study of a l l the
borrowers, and my purposes would be served i f I had the figures on
several large and several small borrowers.
I could, of course, get the f i n a n c i a l statments from
Dun and Bradstreet. I f , however, the work has been done, perhaps
you can t e l l me i f a report i s available*
Yours^siftc er ely f

Gov. Marriner Eccles,
Federal Reserve Board,
Washington, D.C#

Frank Chodorov
Associate Editor




Mr. Frank Chodorov,
1710 Rhode Island Avenue, N. W.,
Washington 6, D. C.
Dear Mr. Chodorov:
I n answer to your l e t t e r of May 3 I clid not
analyze any of the loans of the Reconstruction Finance
Corporation i n my testimony on A p r i l 27. A l l the informat i o n we have a v a i l a b l e here i s the Annual Reports to
Congress of the R. F . C. We do not have any analyses of
i n d i v i d u a l c r e d i t s , and I do not believe the R. F . C.
makes such information a v a i l a b l e outside t h e i r organiza tion.
Yesterday a t Senator ?yrd f s request I had sent
to you a copy of the t e x t of my prepared statement given
before the Senate Banking and Currency on A p r i l 27.

Sincerely yours,

M. S. Eccles.