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 Supervisiion Thereof and for Other Purposes... |
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Page 11
... Senator WATSON ( presiding ) . This is a meeting of a subcommittee of the Committee on Banking and Currency ... Senator CoUZENS . Who introduced the last bill ? Senator WATSON . I introduced Senate bill 2959 in the Senate , after ...
... Senator WATSON ( presiding ) . This is a meeting of a subcommittee of the Committee on Banking and Currency ... Senator CoUZENS . Who introduced the last bill ? Senator WATSON . I introduced Senate bill 2959 in the Senate , after ...
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... Senator WATSON . We will ask the assistant legislative counsel to describe the bill . Mr. O'BRIEN . Mr. Chairman and Senators : At the request of Mr. Luce's subcommittee the office of the legislative counsel was called in consultation ...
... Senator WATSON . We will ask the assistant legislative counsel to describe the bill . Mr. O'BRIEN . Mr. Chairman and Senators : At the request of Mr. Luce's subcommittee the office of the legislative counsel was called in consultation ...
Page 14
... Senator WATSON . Do they correspond to land - bank districts ? Mr. O'BRIEN . No ; the board is left free to determine the districts themselves . Senator TOWNSEND . How many members are to comprise the board ? Mr. O'BRIEN . I think five .
... Senator WATSON . Do they correspond to land - bank districts ? Mr. O'BRIEN . No ; the board is left free to determine the districts themselves . Senator TOWNSEND . How many members are to comprise the board ? Mr. O'BRIEN . I think five .
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... Senator COUZENS . You used Boston as an illustration . Assume , for instance , that the capital of the Boston bank ... WATSON . They are to be separate and independent under the old bill . I do not know what this bill provides . Senator ...
... Senator COUZENS . You used Boston as an illustration . Assume , for instance , that the capital of the Boston bank ... WATSON . They are to be separate and independent under the old bill . I do not know what this bill provides . Senator ...
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... Senator COUZENS . May I ask you at that point just what type of corporation would come under the laws of the United ... WATSON . Senator , I asked that very question when they brought up this bill to me to introduce ; and they told me ...
... Senator COUZENS . May I ask you at that point just what type of corporation would come under the laws of the United ... WATSON . Senator , I asked that very question when they brought up this bill to me to introduce ; and they told me ...
Common terms and phrases
50 per cent advances amortized mortgage amount assets banker bill BODFISH bonds borrow building and loan building associations capital cash CLARK CLEMENT CODY collateral committee condition debentures default deposits DEVINE directors discount bank dollars Federal home loan Federal land banks Federal reserve system foreclosed FRIEDLANDER funds going Government HILL home loan bank home mortgage loan home owner institutions insurance companies investment investors January 19 January 25 KARR KISSELL liquid loan associations LOFGREN mortgage companies O'BRIEN OAKMAN Ohio organization paid payments present provision rate of interest real estate real-estate Reconstruction Finance Corporation rediscount ROBINS ROBINSON savings banks Senator BULKLEY Senator COUZENS Senator MORRISON Senator TOWNSEND Senator WATSON situation small homes STICKLE stock subscriptions subscribe subsection supervision tion trust companies United unpaid principal WHITE Willard Hotel withdrawals WOOD
Popular passages
Page 8 - Examination, consisting of seven members, one to serve for one year, one for two years, one for three years, one for four years, one for five years, one for six years and one for seven years, and the successors of each for the term of seven years, who shall be physicians in good standing in their profession, representation to be given...
Page 9 - Whoever makes any statement knowing it to be false or whoever willfully overvalues any security for the purpose of obtaining for himself or for any applicant any loan or extension thereof by renewal, deferment of action, or otherwise, or the acceptance, release or substitution of security therefor, or for the purpose of influencing in any way...
Page 7 - First mortgages executed to 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.
Page 9 - Issued or purporting to have been issued by the corporation, or (4) passes, utters or publishes, or attempts to pass, utter or publish, as true any falsely altered or spurious...
Page 9 - 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 8 - Any member appointed to fill a vacancy in the board occurring prior to the expiration of the term for which his predecessor was appointed shall be appointed for the remainder of such term.
Page 9 - ... or (2) passes, utters or publishes, or attempts to pass, utter or publish, any false, forged or counterfeited...
Page 9 - ... or any other body politic or corporate, or any individual, or to deceive any officer, auditor, or examiner...
Page 8 - That every Federal land bank, and every joint stock land bank, shall semi-annually carry to reserve account twenty-five per centum of its net earnings until said reserve account shall show a credit balance equal to twenty per centum of the outstanding capital stock of said land bank.
Page 40 - Such drafts or bills may be acquired by Federal Reserve Banks in such amounts and subject to such regulations, restrictions, and limitations as may be prescribed by the Federal Reserve Board...