inventory · entities · updated 2026-07-25
Reconstruction Finance Corporation
entity active p2
Federal New Deal agency, headed by Jesse Jones, that provided government-guaranteed loans to ailing businesses. Approved a $100,000 loan for Three Rivers Glass Company in 1936, conditioned on a mortgage-priority agreement that was ultimately sabotaged by attorney William Church, leading directly to the Ball Brothers foreclosure.
Next action: None.
organizationthree-rivers-glassfederal-agencynew-deal
Why Track This
The real historical federal agency at the center of the loan attempt that, ironically, became the mechanism of the company’s downfall rather than its rescue.
Current State
Approved Tips’ $100,000 loan request in principle, contingent on (1) a favorable engineering inspection of the plant and (2) the existing Tulsa mortgage-holder granting the RFC first lien priority. Both conditions were in motion when William Church’s betrayal derailed the second one.
Next Action
None.
Notes
A well-documented real federal agency (est. 1932) independent of this collection; not independently re-verified here beyond Tips’ account of his direct dealings with it.