R. F. C. Aids Maine Cities Damaged by Fire
Directors of the Reconstruction Finance Corporation allocated $1,000,000 of the $5,000,000 earthquake and fire reconstruction funds, authorized by Congress, to the cities of Auburn and Ellsworth, Me., two communities partially destroyed by fire this spring. The money is to be loaned by the R. F. C. through the Auburn Rehabilitation Corporation and the Ellsworth Rehabilitation Corporation, two nonprofit making corporations, which have been formed to undertake the work of reconstruction in the two cities.
The loan will be made on first mortgages, which the R. F. C. will hold as security, for the purpose of rebuilding houses destroyed by fire. The money will be disbursed on the certification of the two rehabilitation corporations and the presentation of collateral.
Of the amount authorized by the R. F. C., $600,000 is to be allocated to Auburn and $400,000 to Ellsworth.