Hearing Before the Committee on Agriculture, House of Representatives, Seventy-fourth Congress, First[-second] Session...U.S. Government Printing Office, 1935 - Agriculture and state |
From inside the book
Results 1-5 of 23
Page 33
... loss suffered in interest . The improvement in the agricultural situation puts the land bank bonds now in position so that it is felt that they are relieved from the result of the enforced lower rate of interest , and that until 1938 ...
... loss suffered in interest . The improvement in the agricultural situation puts the land bank bonds now in position so that it is felt that they are relieved from the result of the enforced lower rate of interest , and that until 1938 ...
Page 50
... losses . But up to this point there have been no losses on any loans in the central bank for cooperatives . The CHAIRMAN . Is it customary to make loans to cooperatives without any sort of security ? Mr. PECK . NO . They are all secured ...
... losses . But up to this point there have been no losses on any loans in the central bank for cooperatives . The CHAIRMAN . Is it customary to make loans to cooperatives without any sort of security ? Mr. PECK . NO . They are all secured ...
Page 51
... losses are absorbed by the taxpayers . Of course , those cotton buyers who either sell to or buy from the cooperatives are getting along all right . They can generally sell higher and buy cheaper there than anywhere else . Legitimate ...
... losses are absorbed by the taxpayers . Of course , those cotton buyers who either sell to or buy from the cooperatives are getting along all right . They can generally sell higher and buy cheaper there than anywhere else . Legitimate ...
Page 55
... loss for which the producer is not actually held liable . Now , Mr. Chairman , what I am talking about there is this , the so - called " patronage " dividend . I do not know whether you gen- tlemen know of it . The patronage dividend is ...
... loss for which the producer is not actually held liable . Now , Mr. Chairman , what I am talking about there is this , the so - called " patronage " dividend . I do not know whether you gen- tlemen know of it . The patronage dividend is ...
Page 57
... losses ; he is willing to accept the check , but not to share in the losses of the association . He is not taking any chance . And that is where we claim , and I think correctly , that they are not bona fide members of a cooperative ...
... losses ; he is willing to accept the check , but not to share in the losses of the association . He is not taking any chance . And that is where we claim , and I think correctly , that they are not bona fide members of a cooperative ...
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Common terms and phrases
$100 valuation agencies Agricultural Adjustment Administration Agricultural Marketing Act amends section American Cotton Cooperative amount ANDRESEN application Average bale per month Bank Commissioner loans banks for cooperatives BOILEAU borrow BUTLER Capper-Volstead Act CHAIRMAN committee Congress COOLEY Cotton Cooperative Association cotton merchant cotton shippers debentures debt DOXEY Emergency Farm Mortgage Farm Board Farm Credit Act Farm Credit Administration Farm Loan Act Farm Mortgage Act Farm Mortgage Corporation Federal Farm Board Federal Farm Loan Federal Farm Mortgage Federal intermediate credit Federal land bank financing FLANNAGAN funds GILCHRIST Government handling HOHENBERG HOPE HOVEY insurance rate intermediate credit banks joint-stock land banks KLEBERG Land Bank Commissioner LORDAN losses membership November 30 operations payment percent profits purchase question rate of interest refinancing section 31 statement storage and insurance storage rate subsection tion title 12 valuation per month
Popular passages
Page 4 - First. That no member of the association is allowed more than one vote because of the amount of stock or membership capital he may own therein; and Second. That the association does not pay dividends on stock or membership capital in excess of 8 per centum per annum. And in any case to the following: Third. That the association shall not deal in farm products, farm supplies, and farm business services with or for nonmembers in an amount greater in value than the total amount of such business transacted...
Page 2 - States and such guaranty shall be expressed on the face thereof, and such bonds shall be lawful investments, and may be accepted as security, for all fiduciary, trust, and public funds the investment or deposit of which shall be under the authority or control of the United States or any officer or officers thereof.
Page 3 - That such associations are operated for the mutual benefit of the members thereof, as such producers, and conform to one or both of the following requirements: "First. That no member of the association 'is allowed more than one vote because of the amount of stock or membership capital he may own therein, or, "Second.
Page 4 - The first sentence of subsection (a) of section 30 of the Emergency Farm Mortgage Act of 1933 is amended by striking out the words
Page 4 - Act is amended by striking out the period at the end and inserting in lieu thereof a comma and the following: "and $100,000,000 for the fiscal year ending June 30, 1951.
Page 3 - Commissioner, from time to time establish rates of discount and interest which, except with the anproval of the Governor of the Farm Credit Administration, shall not exceed by more than 1 per centum per annum the rate borne by the last preceding issue of debentures which it issued or in which it participated. Any Federal intermediate credit bank...
Page 2 - May 26, 1924, as amended (USC, title 8, sec. 203), is hereby amended by striking out the period at the end thereof and inserting in lieu thereof a comma and the following : "and...
Page 4 - ... at the fair book value thereof (not exceeding par) , in total or partial liquidation of the debt...
Page 4 - Cooperative associations borrowing from the Central Bank shall be required to own. at the time the loan is made, an amount of stock of the bank equal in fair book value (not to exceed par), as determined by the bank, to $100 per $2,000 or fraction thereof of the amount of the loan.
Page 2 - ... (d) Whenever it shall appear desirable to issue consolidated debentures of the twelve Federal intermediate credit banks and to sell them through a common selling agency, and the Federal intermediate credit banks shall, by resolutions, consent to the same, the banks may issue and sell said debentures subject to the provisions of this section and the provisions of section 21 of Title I of this Act, insofar as applicable. As used in this Act, the term ' debentures ' includes such consolidated debentures.