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Human Events 1710 Rhode Island Ave., N. W., A Weekly Analysisfor the American Citizen WASHINGTON 6, D. C. telephone NATIONAL 2 0 6 6 Editor FRANK C . 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 HANIGHEN May 1951. 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.
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