Evening star., 1932-09-20
ENGINEERS TO SCAN
PLANS FOR R. F. c.
Nationwide Advisory Board
Formed to Help Rush
Small Projects.
By the Associated Press.

By the Associated Press.
A Nationwide Advisory Board of En-
eineers to assist small projects needing
/ financing by the Reconstruction Cor
poration has been set up with the as
sistance OF w. 8. Lee. president. and L.
w. Wallace, executive secretary, cf the
American Engineering Council.
This was announced today by Harvey
Couch. director of the Reconstruction
Corporation in charge of self liouidat-
| Ing projects.
Lee, who is executive vice president
of the Duke Power Co.. at Charlotte.
N. c.. conferred here yesterday with Of
flcias OF the corporation.
Trips to Be Eliminated.
The plan will complete the engineer
ing sst-up of the corporation and make
II possible for sponsors Of small projects
coming under the self-liquidating fea-
ture of the law to obtain loans without
the necessity of expensive trips to
Washington. In each of the 80 districts
in which the corporation has branch
Offices there will be an engineering
board to sit with the Financial Com
mittee. The board will examine the
projects and determine their feasibility
and the recommendations of the district
officers will be sent to the corporation
complete
This does not mean. however. that
applications will not continue to come
direct to the corporation here.
Harry E Whitaker of New York has
been loaned to the corporation by Ford
mariZe information for the engineering
board. He will act as an assistant and
co-ordirator.
The Pennsylvania Railroad Co. yes
| terday was able to obtain the work"
loan of $4,000, 600 from the Reconstruc-
ton Finance Corporation without post
ing any more security
Collateral Sufficient.
The reason was that the company al
ready had pledged collateral for a loar
the new lean.
The Pennsylvania on May l8 received
approval Of loan Of S27,500,000 to
finance electrification Of its New York
Washington line. The company has
received So, 500, 900 and during the
first seven months of 1892 spent $2l,-
779853
The corporation also announced that
an allowance of S2oS,36 for emergency
relief had been made to Virginia.
Through Couch, the corporation is
sued call for small projects The state
ment, he said. was ito correct a false
impression that seems to exist in the
minds Of some people to the effect that
the corporation is not interested In
making small loans for self-l:quidating
projects"
1T is the policy of the corporation" !"
he said. Ito look favorably upon all ap-
plications. regardless Of the amount in
volved. if the projects meet the require
ments of the act as to eligibility,
self-liquidating character and suficiency
OF security and will create employment" :"
The corporation has before it a num-
Der Of large projects which would Gre
ate thousands OF Jobs. It has advised
the Southern California water district
that it will bid on s4o000,c0 of bonds
of the project. 1t has before it such
projects as the SIS 900. 900 Thirty y-eighth
street tunnel in New York City and the
belt line bridge at New Orleans. Many
SINH al projects are in sight. but the
small loan projects are comparatively
few.
The Pennsylvania Railroad loan was
/ the first resulting from the series of
railroad presidents and memcers of the
Interstate Commerce Commission two
months ago. 1t was granted for con-
Etruction of 1.285 freight cars and will
keep 500 men busy at the Altoona. Pa .
shops for five months Besides this
it will bring about employment, the
corporation estimates, of l,500 more
men IN plants making aXles. trucks.
brakes. roofs wheels and othar parts.
About 5000 tens of steel will be used.
Usual Routine Revised.
The unusual situation Of the Finance
Corporation announcing a loan before
the Interstate Commerce Commission
announced its approval, featured this
advance The commissions approval
was given last week. but the opinion
did not become public until after the
corporation made its announcement.
There Is one other such loan now
before the commission. The Central
Railroad of New Jersey Saturday asked
for $500, 900 to repair its equipment.
The corporation has made two other
somewhat similar loans to railroads.
Three months ago it loaned $27, ,000, 900
to the Pennsylvania SO that road might
be able to continue electrification of its
New Washington line Saturday
loan Of s3.850.000 was granted the
Denver & Rio Grande Western Rail-
road that 1t might build the 40-mile
Dotsero cutoff in Colorado, thus Great
Ing hundreds Of Jobs