Federal Farm Mortgage Corporation: Hearing Before ..., 73-2 on H.R. 6670, January 10, 19341934 - 27 pages |
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Page 12
... thing in this way : That we put the farmer in a position where he would have a fighting chance to work his way out ; that if we just merely transferred a certain portion of the farmer's obligations over to the Government , and allowed a ...
... thing in this way : That we put the farmer in a position where he would have a fighting chance to work his way out ; that if we just merely transferred a certain portion of the farmer's obligations over to the Government , and allowed a ...
Page 14
... thing . Is there anything which justifies action of that kind ? Mr. Goss . I believe that condition has been corrected , Mr. Glover . When the Farm Credit Administration was first set up it was thought that greater speed and greater ...
... thing . Is there anything which justifies action of that kind ? Mr. Goss . I believe that condition has been corrected , Mr. Glover . When the Farm Credit Administration was first set up it was thought that greater speed and greater ...
Page 15
... thing as two organizations and there would be no duplication of effort or confusion . Mr. GLOVER . If the system has been changed , of course , that is different , but at the first we had the plan of the person desiring a loan having to ...
... thing as two organizations and there would be no duplication of effort or confusion . Mr. GLOVER . If the system has been changed , of course , that is different , but at the first we had the plan of the person desiring a loan having to ...
Page 16
... thing , and that is the fact that when you start scaling down the indebtedness it is usually the unsecured creditor who must make the biggest con- cession . The local unsecured creditor has to take most of it because the secured ...
... thing , and that is the fact that when you start scaling down the indebtedness it is usually the unsecured creditor who must make the biggest con- cession . The local unsecured creditor has to take most of it because the secured ...
Page 17
... things , about which you are no doubt familiar , were somewhat unsatisfactory . We believe that with the organiza- tion which is now operating the bank we can now handle the situation in that territory . Mr. HOPE . There is not any ...
... things , about which you are no doubt familiar , were somewhat unsatisfactory . We believe that with the organiza- tion which is now operating the bank we can now handle the situation in that territory . Mr. HOPE . There is not any ...
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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.