In a technical sense, the EHFA's rates were not "below market," for the agency's rates actually became part of the market.
(25) EHFA correspondence with Manufacturers, Feb.-March 1934, RG 234, RFC/EHFA, boxes 80-85.
(28) EHFA Correspondence with Refrigerator Manufacturers, March-July 1934, RG 234, RFC/EHFA, boxes 80-85.
Munger, EHFA Commercial Manager, 26 June 1934, RG 234, RFC/EHFA, box 15; "TVA Demonstrator," Business Week, 19 May 1934, 12.
(36) EHFA Statement of Operations, Installment Contracts Purchased through 31 Aug.
Galtney, Galtney Motor Company, to EHFA, no date (c.
(45) Material on this shift can be found in several different EHFA files.
(46) "EHFA Pussyfoots Successfully," Business Week, 15 Aug.
1942, liquidating the EHFA, RG 234 RFC/EHFA, box 4.
(52) A recent study of the RFC during the New Deal by James Olson asserts that the EHFA was "an instant success," financing the sale of over 70,000 refrigerators during 1934.
(53) During House debates on power policy, Mississippi cosngressman John Rankin, whose district included Tupelo and other TVA and EHFA territory, read excerpts from letters written to him by his constituents that described how they made use of more power due to reduced rates.