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Creation of a System of Federal Home

Loan Banks

HEARINGS

BEFORE A

SUBCOMMITTEE OF THE COMMITTEE ON BANKING AND CURRENCY

UNITED STATES SENATE

SEVENTY-SECOND CONGRESS

FIRST SESSION

ON

S. 2959

A BILL TO CREATE FEDERAL HOME LOAN BANKS
TO PROVIDE FOR THE SUPERVISION THEREOF

AND FOR OTHER PURPOSES

PART 2

JANUARY 26 AND 27 AND FEBRUARY 15 AND 16, 1932

Printed for the use of the Committee on Banking and Currency

THE LIBRARY OF THE

APR 11 1932

UNIVERSITY OF ILLINOIS,

UNITED STATES
GOVERNMENT PRINTING OFFICE

WASHINGTON : 1932

98195

COMMITTEE ON BANKING AND CURRENCY

PETER NORBECK, South Dakota, Chairman
SMITH W. BROOKHART, Iowa.

DUNCAN U. FLETCHER, Florida.
PHILLIPS LEE GOLDSBOROUGH, Maryland. CARTER GLASS, Virginia.
JOHN G. TOWNSEND, JR., Delaware.

ROBERT F. WAGNER, New York.
FREDERIC C. WALCOTT, Connecticut.

ALBEN W. BARKLEY, Kentucky. JOAN J. BLAINE, Wisconsin.

ROBERT J. BULKLEY, Ohio. ROBERT D. CAREY, Wyoming.

CAMERON MORRISON, North Carolina.. JAMES E. WATSON, Indiana.

THOMAS P. GORE, Oklahoma. JAMES COUZENS, Michigan.

EDWARD P. COSTIGAN, Colorado. FREDERICK STEIWER, Oregon.

CORDELL HULL, Tennessee.
JULIAN W. BLOUNT, Clerk
GIBBS W. SHERRILL, Assistant Clerk

SUBCOMMITTEE ON SENATE BILL 2959

JAMES E. WATSON, Indiana, Chairman JOHN G. TOWNSEND, JR., Delaware.

ROBERT J. BULKLEY, Ohio. JAMES COUZENS, Michigan.

CAMERON MORRISON, North Carolina

II

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Statement of

E. J. Adams..
William E. Best.
F. M. Boone.-.
Judson Bradway-
F. S. Cannon..
Brandt C. Downey -
John G. Emery-
Oscar Giesecke.
Charles W. Gold.
John C. Hall.--.
B. C. Hardenbrook,
George B. Hitchcock.
A. C. Hunt.
Harry S. Kissell
Justin Matthews.
Wilson W. Mills.
Thomas E. Monks.
Owen M. Murray-
Charles H. Mylander.
Gavin L. Payne.
Marc Rose.
W. S. Schmidt.
John F. Scott..
Chesla C. Sherlock
Rome C. Stephenson.
C A. Sterling-
Alfred K. Stern..
L. T. Stevenson.
Charles W. Thompson..
G. Wallace Tibbetts.
John Warren.-.
Ward B. Whitlock-

Page 199 283 405 334 423 281 384 234 418 374 269 420 341 304 229

214 347, 355

271 389 364 329 321 265 406 277 344 248 253 399 237 258 318

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