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HEARINGS

BEFORE A

SUBCOMMITTEE OF THE COMMITTEE ON BANKING AND CURRENCY

UNITED STATES SENATE

EIGHTY-FIFTH CONGRESS

FIRST SESSION

ON

VARIOUS BILLS TO AMEND THE SMALL BUSINESS

ACT OF 1953, AS AMENDED

JUNE 3, 4, 5, 6, 10, 11, 13, 18, AND 20, 1957

Printed for the use of the Committee on Banking and Currency

UNITED STATES

GOVERNMENT PRINTING OFFICE

WASIIINGTON : 1957

93527

148SU

XL
4/02 31150-201 NULE

COMMITTEE ON BANKING AND CURRENCY

J. W. FULBRIGHT, Arkansas, Chairman A. WILLIS ROBERTSON, Virginia

HOMER E. CAPEHART, Indiana JOHN J. SPARKMAN, Alabama

JOHN W. BRICKER, Ohio J. ALLEN FREAR, JR., Delaware

WALLACE F. BENNETT, Utah PAUL H. DOUGLAS, Illinois

PRESCOTT S. BUSH, Connecticut A. S. MIKE MONRONEY, Oklahoma

J. GLENN BEALL, Maryland FRANK J. LAUSCHE, Ohio

FREDERICK G. PAYNE, Maine JOSEPH S. CLARK, Pennsylvania

CLIFFORD P. CASE, New Jersey
J. H. YINGLING, Chief Clerk
ROBERT A. WALLACE, Staff Director

SUBCOMMITTEE ON SMALL BUSINESS

JOSEPH S. CLARK, Pennsylvania, Chairman J. W. FULBRIGHT, Arkansas

HOMER E. CAPEHART, Indiana A. WILLIS ROBERTSON, Virginia

J. GLENN BEALL, Maryland JOHN J. SPARKMAN, Alabama

FREDERICK G. PAYNE, Maine FRANK J. LAUSCHE, Ohio

CLIFFORD P. CASE, New Jersey JAMES B. CASH, Jr., Staff Member

II

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Page

S. 55.-

1

S, 244.

2

S. 246.

S. 300.

S. 545.

S. 719

S. 720.

9

S. 1762-

13

S. 1789.

23

S. 1992

32

S. 2160

32

S. 2184.

38

S. 2185

S. 2286.

39

Statement of-

Adair, John A., president, Exchange National Bank, Atchison, Kans. 219

Allott, Gordon, a United States Senator from the State of Colorado.. 60

Barnes, Wendell B., Administrator, Small Business Administration.. 311, 512

Brennan, F. P., vice president; accompanied by Donald J. Hurley,

Massachusetts Business Development Corp---

97

Burger, George J., vice president, National Federation of Independent

Business.

Coffin, Frank M., a Representative in Congress from the State of

Maine.

185

Duggan, David J., vice president and general secretary, New York

Business Development Corp----

200

Floete, Franklin G., Administrator, accompanied by Paul Barron and

Lloyd L. Dunkle, Jr., General Services Administration.

304

Harling, Philip F., Theater Owners of America, Inc.

70

Humphrey, Hubert H., a United States Senator from the State of

Minnesota..

442

Jenkins, H. Powell, executive vice president, accompanied by Marshall

B. Hartsfield, counsel, The Business Development Corporation of
North Carolina -

114

Kaplan, A. D. H., senior staff member, Brookings Institution.

205

Martin, William McChesney Jr., Chairman, Board of Governors;

accompanied by Winfield W. Riefler, Assistant to the Chairman,

Federal Reserve System.-

499

Maxwell, Arthur F., on behalf of the American Bankers Association.. 127

McDonald, C. Bert, chairman, banking committee; and John C.

Davis, executive director, National Small Business Men's Associa-

tion of Washington, D. C.---

275

McKellar, Joseph M., Director for Small Business Policy, Office of
the Assistant Secretary of Defense (Supply and Logistics) -

494

Multer, Abraham J., a Řepresentative in Congress from the State of

New York.

404

Neal, Alfred C., president, Committee for Economic Development. 245

Oechsle, Carl F., Acting Assistant Secretary for Domestic Affairs,

accompanied by Kenneth F. McClure, General Counsel, Depart-

ment of Commerce.

281

O'Mahoney, Joseph C., a United States Senator from the State of

Wyoming---

85

Robbins, Laurence B., Assistant Secretary of the Treasury

449
Scoll, David, New York, N. Y.

261
Smith, Don T., Deputy to the Secretary of the Treasury.

483

197

52

53

54
511
59

Statement of-Continued

Thomas, Herbert L., cochairman of Steering Committee for the

Organization of the Arkansas Development Finance Corp.; ac-
companied by Preston W. Grace and Fred Venner..
Thye, Edward J., a United States Senator from the State of Minnesota.
Wilbanks, Sim S., president, Peoples Trust & Savings Bank, Good-

water, Ala...

Letters, statements, reports, etc., submitted for the record by:

Adair, John A., president, Exchange National Bank, Atchison, Kans.:

Statement

Letter to Senator Clark, with enclosures.

Chamber of Commerce of the United States; Clarence R. Miles, man-

ager, legislative department: Letter to Senator Clark.

Coffin, Frank M., a Representative in Congress from the State of

Maine: Statement.-

Commerce Department:

Report on:

S. 55, S. 246, S. 300..-.

S. 244.

S. 545, S. 720, S. 1762, and S. 1789.

S. 719 and S. 2160_
Connecticut Development Credit Corp., J. D. Linehan, manager:

Letter to committee..

Defense Department:

Report on S. 1789.

Statement of Mr. McKellar.-

Federal Reserve:

Report on:

S. 55, S. 246, and S. 300..

S. 719 and S. 720..

S. 1992.

Statement of Mr. Martin.

Federal Trade Commission: Report on S. 1789_

Floete, Franklin G., Administrator, General Services Administration:

Statement.--

General Accounting Office:

Report on:

S. 55, S. 246, and S. 300.

S. 244.

S. 545.

S. 719 and S. 720.

S. 1762

S. 1789.

Grace, Preston W., president, White River Propane Gas Co., Bates-

ville, Ark.--

Harling, Philip F.; Theater Owners of America, Inc.: Statement.--

Kaplan, Dr. A. D. H., senior staff member, Brookings Institution:

Statement to Joint Economic Committee, 1949

Business population and business failures, 1920–57, table-

Labor Department: Report on 8. 244..

Maxwell, Arthur F., Biddeford, Maine: Letter on Development Credit

Corporation of Maine

McCabe, Thomas B., president, Scott Paper Co., Chester, Pa.: Letter

to Senator Clark, and statement to committee in 1950-

Multer, Abraham J., a Representative in Congress from the State of

New York: Statement.-

Neal, Alfred C., president, Committee for Economic Development:

Statement.

Payne, Frederick G., a United States Senator from the State of Maine:

Štatement

Small Business Administration:

Report on:

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S. 55, S. 246, and S. 300.

S. 244.

S. 545

S. 719_

S. 720.

S. 1992

41

42

42

43

43

44

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