Evening star., 1939-03-12

Already citizens in "a States have
benefited by this agency, one of the
fW corporations ever established by
the Federal Government. Of the
amount dlsbursed before the estab-
lishment of Disaster Loan as such
more than 80 per cent has already
been repaid and of the amount dis
burSed since it was so named in 1887
more than 81 per cent has been re-
paid-Which must prove that Dis
aster Loan officials are astute and
people honest.
Set-Up of Agency.
What then is the set-up of this
agency which bothers about people
who need as little as S27?
It's headquarters are modestly
situated in the Reconstruction
Finance Corp. in Washington and
it is managed by officers and agents
appointed by the r. F. c.
Managing directors are the genial
Charles B. Henderson. former United
States Senator from Nevada, and
Emil Schram. both members of the
board of directors of the R. F. C.
Regional offices operate from
coast to coast and border to border,
established in Los Angeles and San
Francisco, Nashville, Tenn, and
Dallas, Tex, Boston, Little Rock,
Ark, Chicago, Louisville, New Or
leans, Minneapolis, St. Louis, Cleve-
land, Philadelphia, Helena, Mont,
and Portland, Oreg.
No swivel chair executives are
Senator Henderson and Mr.. Schram.
They are likely to be in the audience
on the first night of any disaster.
Initial radio flashes are their signal
for action.
Asked to describe how Disaster
Loan works. Senator Henderson told
about the unannounced New Eng
land hurricane last fall and the
tornado in Charleston, S.. c., which
followed 1t closely.
by the time complete news of
the New England hurricane and
flood on September 81. 1898, had
reached the public said Senator
Henderson, the Disaster Loan Corp.
was already on the job. An immedi-
ate survey of the stricken area had
been made by the Boston agency,
and reported to Washington. First
aid and rescue workers had hardly
arrived on the scene when Mr..
Schram and had begun a mobiliza- .
ton of our oWn-the huge task of
drafting personnel and setting up
emergency Offices at strategic points
in the hurricane and flood areas
Bolstering Morale.
While other agencies were en-
gagged in restoring physical well
being, the team of Henderson and
Schram had the less sensational,
but no less important task of
bolstering shattered morale by
making possible the immediate re-
habilitation of damaged property.
When I reached New England" ;"
Mr.. Henderson continued, II found
local business men, farmers and
professional men willing to CO.
operate by constituting themselves
volunteer local advisory committees.
They were not paid dime. Every
effort was made to select representa-
tives, non-partisan and impartial
groups. so that intelligent recon-
mendations on each application for
a loan could be made to the Wash
ington Office
BY October 4-mind you, the hur-
ricane was on September 2l-under
the supervision of trained men from
the Washington and Boston offices,
regional Offices had been opened at
New London and Hartford, Conn:
Springfield. New Bedford, Worcester,
Lowell and Gardner. Mass; Provi-
dence, R. l., and New York City. An
office was already in existence in
Boston. To keep Disaster Loan in
the family, local appraisers and
clerical help were employed. Local
attorneys did all legal work in con-
nection with closing the loans.
THE first application reached the
office of the corporation on october
S." Senator Henderson continued.
BY December 6. 1896 loans had
been approved for an amount in ex-
cess of s2.700,000
Hardly was the work of personnel
organization we'll under way in New
England when. on September 90,
word was received that tornado
had swept through the city OF
Charleston, S. c., leveling a por-
ton OF the city. An immediate tele-