Reconstruction Finance Corporation: Hearings Before the Committee on Banking and Currency, House of Representatives, Seventy-Second Congress, First Session, on the Bills H.R. 5060 and H.R. 5116 to Provide Emergency Financing Facilities for Banks and Other Financial Institutions, and for Other Purposes. December 18, 1931, and January 5, 6, and 7, 1932. Statement of Hon. Eugene Meyer ..., Part 1 |
From inside the book
Results 1-5 of 27
Page 132
... Dempsey , whom you all know , is here for a very brief statement , and I would like to accommodate him and save that much time . He thinks he can finish in 5 or 10 minutes . Mr. ST . JEAN . Answering Mr. Stevenson's question , on page ...
... Dempsey , whom you all know , is here for a very brief statement , and I would like to accommodate him and save that much time . He thinks he can finish in 5 or 10 minutes . Mr. ST . JEAN . Answering Mr. Stevenson's question , on page ...
Page 135
... Dempsey , how much time do you want ? I was wondering whether we could undertake it this afternoon . Mr. DEMPSEY . I do not think over 10 minutes , but at the same time , if the committee wants to adjourn , I can come up in the morning ...
... Dempsey , how much time do you want ? I was wondering whether we could undertake it this afternoon . Mr. DEMPSEY . I do not think over 10 minutes , but at the same time , if the committee wants to adjourn , I can come up in the morning ...
Page 136
... Dempsey . Mr. DEMPSEY . It has not passed , but reported out by the Senate committee . The CHAIRMAN . Yes . Section 5 ? Mr. DEMPSEY . Yes ; section 5 , paragraph 2 , states : All such loans shall be fully and adequately secured in such ...
... Dempsey . Mr. DEMPSEY . It has not passed , but reported out by the Senate committee . The CHAIRMAN . Yes . Section 5 ? Mr. DEMPSEY . Yes ; section 5 , paragraph 2 , states : All such loans shall be fully and adequately secured in such ...
Page 137
... DEMPSEY . Well , let me just illustrate to you . I personally hold preferred stock in the Nickel Plate Railroad . I have had it for about 15 years . It was first preferred when I obtained it , and when the Van Sweringens bought the road ...
... DEMPSEY . Well , let me just illustrate to you . I personally hold preferred stock in the Nickel Plate Railroad . I have had it for about 15 years . It was first preferred when I obtained it , and when the Van Sweringens bought the road ...
Page 138
... DEMPSEY . I think so ; every one . Mr. MCFADDEN . That all they have to offer are their equities ? Mr. DEMPSEY . I think that is true . Mr. MCFADDEN . Which would be represented by their notes with the pledge of such equities as they ...
... DEMPSEY . I think so ; every one . Mr. MCFADDEN . That all they have to offer are their equities ? Mr. DEMPSEY . I think that is true . Mr. MCFADDEN . Which would be represented by their notes with the pledge of such equities as they ...
Other editions - View all
Common terms and phrases
acceptances advances amendment American amount assets association authorized bankers bill board of directors bonds borrow BRAND BUSBY capital stock CASS cent CHAIRMAN collateral committee Congress consider course deal debentures DEMPSEY electric railroads eligible engaged in interstate Eugene Meyer export Federal reserve act Federal reserve banks Federal Reserve Board Federal reserve notes financial institutions foreign frozen funds gentlemen going GOLDER GOLDSBOROUGH Government Governor Meyer HANCOCK hearing interest Interstate Commerce Commission investment issued JEAN land banks legislation liquidation loans matter MCFADDEN millions MILLS mortgage National Credit Corporation operation organization poration President purpose question Reconstruction Finance Corporation rediscount relief require roads SABATH Secretary SEIBERLING sell Senate short lines short selling short-line railroads situation statement steam railroads STEVENSON STRONG suggest thing tion to-day Treasury understand United War Finance Corporation York
Popular passages
Page 3 - The Corporation, including its franchise, its capital, reserves, and surplus, and its income shall be exempt from all taxation now or hereafter imposed by the United States, by any Territory, dependency, or possession thereof, or by any State, county, municipality, or local taxing authority...
Page 2 - The corporation shall be entitled to the free use of the United States mails in the same manner as the executive departments of the Government.
Page 10 - That no association shall at any time be indebted, or in any way liable, to an amount exceeding the amount of its capital stock at such time actually paid in and remaining undiminished by losses or otherwise, except on the following accounts, that is to say:
Page 92 - Secretary of the Treasury, the governor of the Federal Reserve Board, and the farm loan commissioner...
Page 5 - If any clause, sentence, paragraph or part of this Act shall for any reason be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair, or invalidate the remainder of this Act, but shall be confined in its operation to the clause, sentence, paragraph, or part thereof directly involved in the controversy in which such judgment shall have been rendered.
Page 34 - All redemptions, purchases, and sales by the Secretary of the Treasury of such notes or other obligations shall be treated as public debt transactions of the United States.
Page 34 - The Secretary of the Treasury is authorized and directed to purchase any notes and other obligations to be issued hereunder and for such purpose he is authorized to use as a public debt transaction the proceeds from the sale of any securities issued, under the Second Liberty Bond Act, as amended, and the purposes for which securities may be issued under such Act, as amended, are extended to include any purchases of such notes and obligations.
Page 9 - Any and all notes, debentures, bonds or other such obligations issued by the corporation shall be exempt both as to principal and Interest from all taxation (except surtaxes, estate, inheritance, and gift taxes) now or hereafter imposed by the United States, by any territory, dependency or possession thereof, or by any state, county, municipality or local taxing authority.
Page 82 - Three members of the board of directors shall constitute a quorum for the transaction of business.
Page 1 - The management of the corporation shall be vested in a board of directors consisting of...