Farm Credit Act of 1933, Hearing Before ..., 73-1 on H.R. 5790, May 26 and 27, 19331933 - 48 pages |
From inside the book
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Page 12
... percent of the loans which have come before us should never have come to Washington . They should have been handled regionally . Therefore , we believe , if you could set up 12 regional cooperative banks , we could take care of the ...
... percent of the loans which have come before us should never have come to Washington . They should have been handled regionally . Therefore , we believe , if you could set up 12 regional cooperative banks , we could take care of the ...
Page 14
... percent of the volume of loans ; such capital represented by nonvoting class A stock , preferred as to assets and sharing equally with class B stock in dividends . Each bor- rower is required to take and keep 5 percent of his loan in ...
... percent of the volume of loans ; such capital represented by nonvoting class A stock , preferred as to assets and sharing equally with class B stock in dividends . Each bor- rower is required to take and keep 5 percent of his loan in ...
Page 15
... percent of the capital and guar- anty fund of the association ( 50 percent if secured by collateral ) , unless approved by the production credit corporation . Local pro- duction credit associations have the power to endorse and ...
... percent of the capital and guar- anty fund of the association ( 50 percent if secured by collateral ) , unless approved by the production credit corporation . Local pro- duction credit associations have the power to endorse and ...
Page 17
... percent of their loans . There is no double liability of stockholders . As I will show you we propose to eliminate double liability of stockholders in national farm - loan associations . Mr. CUMMINGS . If a man bought $ 25 worth of ...
... percent of their loans . There is no double liability of stockholders . As I will show you we propose to eliminate double liability of stockholders in national farm - loan associations . Mr. CUMMINGS . If a man bought $ 25 worth of ...
Page 18
... percent , or $ 2,500 in class B stock . The capital of that credit association with $ 50,000 in loans would be ... percent . They would reloan the money to the farmer at a rate to cover the cost , presumably at about 6 percent , having ...
... percent , or $ 2,500 in class B stock . The capital of that credit association with $ 50,000 in loans would be ... percent . They would reloan the money to the farmer at a rate to cover the cost , presumably at about 6 percent , having ...
Common terms and phrases
agency Agricultural Credit Corporation Agricultural Marketing Act amended to read amended U.S.C. amount approval asso authorized Bank for Cooperatives BIERMANN bill board of directors BOILEAU borrowers capital and guaranty CENTRAL BANK SEC centum CHAIRMAN ciation class B stock clearing house associations collateral committee cooperative associations cost Credit Cor CUMMINGS debentures direct loans district dividends double liability DOXEY eligible Farm Credit Administration Farm Loan Act farm-loan associations Federal Farm Board Federal Farm Loan Federal land banks financing foreclose FULMER GILCHRIST GLOVER governor guaranty fund handled holder HOPE intermediate credit banks KLEBERG loan associations loans direct losses MORGENTHAU MYERS obligation operation organization Paragraph payment percent permit prescribed Production Credit Association Production Credit Corporation question Reconstruction Finance Corporation rediscount regional agricultural credit regional banks repeal revolving fund set-up situation stock held sugar tion title 12 UTTERBACK warehouse receipts
Popular passages
Page 3 - reconstruction finance corporation act." SBC. 2. The corporation shall have capital stock of $500,000.000, all subscribed by the United States of America, payment for which shall be subject to call in whole or in part by the board of directors of the corporation, with the approval of the Secretary of the Treasury, at such time or times as may be deemed advisable.
Page 9 - 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, That the association does not pay dividends on stock or membership capital in excess of 8 per centum per annum.
Page 12 - State bank, trust company, agricultural credit corporation, incorporated live-stock loan company, savings institution, cooperative bank, cooperative credit or marketing association of agricultural producers, organized under the laws of any State...
Page 8 - Payment for the $825,000,000 balance of such capital stock shall be subject to call at any time in whole or in part by the Board of Directors of the Bank. For the purpose of making payments of such balance, the Secretary of the Treasury...
Page 11 - Corporation, or, without being duly authorized, draws any order or issues, puts forth, or assigns any note, debenture, bond, or other obligation, or draft, bill of exchange, mortgage, judgment, or decree thereof...
Page 10 - ... or (2) passes, utters or publishes, or attempts to pass, utter or publish, any false, forged or counterfeited...
Page 10 - ... capital, reserves, surpluses, and other funds, and their income shall be exempt from all taxation now or hereafter imposed by the United States or by any State, Territorial, or local taxing authority; except that any real property and any tangible personal property of such Federal credit unions shall be! subject to Federal, State, Territorial., and local taxation to the same extent as other similar property is taxed.
Page 4 - ... formed and the territory within which Its operations are to be carried on, and which may contain any other provision, not inconsistent with law, which the association may see fit to adopt for the regulation of its business and the conduct of its affairs. Said articles shall be signed...
Page 9 - Third. That the association shall not deal in the products of nonmembers to an amount greater in value than such as are handled by it for members.