Federal Farm Mortgage Corporation: Hearing Before ..., 73-2 on H.R. 6670, January 10, 19341934 - 27 pages |
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Page 6
... able to the Land Bank Commissioner under the provision of section 32 of the Emergency Farm Mortgage Act of 1933 . This refers to the Land Bank Commissioner's fund , the $ 200,000,000 made available to the Land Commissioner last year ...
... able to the Land Bank Commissioner under the provision of section 32 of the Emergency Farm Mortgage Act of 1933 . This refers to the Land Bank Commissioner's fund , the $ 200,000,000 made available to the Land Commissioner last year ...
Page 8
... able to make further loans when the bonds are made available ? Governor MYERS . Yes . The CHAIRMAN . In order to carry out the purposes of the emergency act ? Governor MYERS . I am sure that everybody would prefer , to pay out cash if ...
... able to make further loans when the bonds are made available ? Governor MYERS . Yes . The CHAIRMAN . In order to carry out the purposes of the emergency act ? Governor MYERS . I am sure that everybody would prefer , to pay out cash if ...
Page 9
... at the time the farm mortgage bill was passed , last spring , it was contemplated that you would be able to exchange land - bank bonds for mortgages . Governor MYERS . That is correct . Mr. HOPE . FEDERAL FARM MORTGAGE CORPORATION 9.
... at the time the farm mortgage bill was passed , last spring , it was contemplated that you would be able to exchange land - bank bonds for mortgages . Governor MYERS . That is correct . Mr. HOPE . FEDERAL FARM MORTGAGE CORPORATION 9.
Page 11
... able to use that much if necessary to meet the situation . Mr. HOPE . Yes . I just wanted to be sure that I understood it . Mr. GLOVER . Mr. Chairman , I would like to ask a question . The CHAIRMAN . Just a moment . I believe Mr. Hope ...
... able to use that much if necessary to meet the situation . Mr. HOPE . Yes . I just wanted to be sure that I understood it . Mr. GLOVER . Mr. Chairman , I would like to ask a question . The CHAIRMAN . Just a moment . I believe Mr. Hope ...
Page 12
... able to say in that connection . I have fre- quent inquiries about this matter from farmers and borrowers and I would like to know what prompts that interpretation of the law because I would like to be able to advise them correctly ...
... able to say in that connection . I have fre- quent inquiries about this matter from farmers and borrowers and I would like to know what prompts that interpretation of the law because I would like to be able to advise them correctly ...
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Common terms and phrases
1933 1 Springfield amended U.S.C. application approved authorized Bank Commissioner loans Bank Commissioner's loans bill board of directors BOILEAU bonds for mortgages bonds issued borrowers capital cash CHAIRMAN creditor District Emergency Farm Mortgage end thereof equal face value Farm Credit Act Farm Credit Administration Farm Loan Act farm loan bonds Farm Mortgage Act Farm Mortgage Corporation farmer Federal Farm Loan Federal Farm Mortgage Federal land bank FULMER GILCHRIST GLOVER Goss Government Governor MYERS guaranteed hereby HOPE HOVEY income indebtedness interest rate intermediate credit banks joint-stock land banks KLEBERG land bank bonds Land Bank Commissioner Land Bank Commissioner's land-bank loans loans closed Loans outstanding Dec MARVIN JONES Mortgage Corporation bonds mortgage loans necessary Number Amount paid paid-in surplus poration principal provisions purpose question Reconstruction Finance Corporation refinancing revolving fund scaling Secretary section 32 taxation tion title 12 TOBEY Treasury unconditionally guaranteed United Wichita bank
Popular passages
Page 3 - 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 - Treasury 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 3 - 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...
Page 3 - 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 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 2 - ... laws applicable to the employment and compensation of officers and employees of the United States...
Page 3 - Such obligations shall be in such forms and denominations, shall have such maturities, shall bear such rates of interest, shall be subject to such terms and conditions, and shall be issued in such manner and sold at such prices as may be prescribed by the Commodity Credit Corporation, with the approval of the Secretary of the Treasury.
Page 5 - States, said subscription to be subject to call in whole or in part by the board of directors of said land bank upon thirty days...
Page 4 - 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, except that any real property of the Corporation shall be subject to State, Territorial, county, municipal or local taxation to the same extent according to its value as other real property is taxed.
Page 4 - Federal land banks, or to joint stock land banks, and farm loan bonds issued under the provisions of this Act, shall be deemed and held to be instrumentalities of the Government of the United States, and as such they and the income derived therefrom shall be exempt from Federal, State, municipal, and local taxation.