Work of Metals Reserve and the R. F. C.

THAT neither the Reconstruction Finance Corp. nor its subsidiary, the Metals Reserve Corp., are in competition with private enterprise was stressed by Charles B. Henderson in an informal talk before the N. Y. Section, A.I.M.E., on Sept. 23. Among other things, the speaker stated that the R.F.C., since its establishment, had authorized loans of $12,000,000, of which over $8,775,000 has actually been distributed. Of this amount, over $6,600,000 has been repaid. None of this money was appropriated by Congress, the sole assistance from that body being the initial authorization of $500,000,000 capital stock.