[Contents:] The Current Status of Rural Electrification --- Requests for Loans Exceed Available Funds --- Program Popular–Outlet for Private Power --- No Competition with Private Utilities --- Industry Benefits from Rural Line Construction --- Generating Plants for Isolated Areas --- Equipment Loans Benefit Projects and Industry --- Legal Aspects --- Scheduling of the Programs --- Loans Are Reasonably Secure --- Appendix A: [Map of] Rural Electrification Administration Projects as of June 30, 1938 --- Appendix B: [Map of] Sources of Material Used in REA Construction.