The Archive · 1940

U.S. Aircraft Plant

London Stocks — Expansion — Loans of U.S.$78,000,000 Granted to Companies Manufacturing Planes

Washington, Aug. 22.

Plant expansion loans totalling US$78000,000 have been granted to Boeing aircraft, Bendix Aviation and Curtiss Wright manufacturing companies in a move to break the bottleneck in impending military airplane production, Mr. Jesse Jones, chairman of the Reconstruction Finance Corporation, announced here yesterday.

The loans supplement US$92,000,000 already allotted to the Wright Aeronautical Corporation to build a huge production plant.

The loans were revealed coincident with an announcement by the State Department that during' July, US$9,497,123 worth of the military planes were shipped to Britain and US$1,227,487 worth to Canada. Canada also "bought US$2,583,10§ worth of aircraft engines during the same month.—United Press.

Text read from the printed page and cleaned; old type leaves the occasional error.

Your account