The trustees of the Daniel Guggenheim Foundation for the promotion of Aeronautics have authorized a loan to finance the purchase of three passenger planes to be operated between Los Angeles and San Francisco by the Western Air Express.
Harry F. Guggenheim, President of the Fund, announced the plan of equipment loans for established air lines. He stated that trustees of the Fund in planning such loans were following principles of financing by railroads in purchasing equipment.
In connection with this loan the trustees said that the Daniel Guggenheim Fund has no commercial or other interest in Western Air Express.
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