Creation of a Reconstruction Finance Corporation: Hearings Before a Subcommittee of the Committee on Banking and Currency, United States Senate, Seventy-second Congress, First Session on S. 1, a Bill to Provide Emergency Financing Facilities for Banks and Other Financial Institutions and for Other Purposes. December 18, 19, 21, 22, 1931. Printed for the Use of the Committee on Banking and Currency |
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Page 10
... cent , as provided in the pending bill , it is probable that very few , or none , of the obligations of the corporation , even if eligibility were granted , would be presented to the Federal reserve banks by member banks . But the ...
... cent , as provided in the pending bill , it is probable that very few , or none , of the obligations of the corporation , even if eligibility were granted , would be presented to the Federal reserve banks by member banks . But the ...
Page 14
... cent for three months , or at the rate of approximately 3 per cent per annum . The bill , then , would be sold to the buyer , if his bid were accepted , at 9914 and he would collect 100 at the expiration of 90 days , the difference 14 ...
... cent for three months , or at the rate of approximately 3 per cent per annum . The bill , then , would be sold to the buyer , if his bid were accepted , at 9914 and he would collect 100 at the expiration of 90 days , the difference 14 ...
Page 22
... cent in its price level , and it took some years to get it on a domestic basis , which happened in 1925 or 1926. If you were to take all the profits made by the beef - cattle growers in the United States in the period of rising prices ...
... cent in its price level , and it took some years to get it on a domestic basis , which happened in 1925 or 1926. If you were to take all the profits made by the beef - cattle growers in the United States in the period of rising prices ...
Page 25
... cent , and that represented income . Senator BROOKHART . That all went to pay expenses ? Governor MEYER . It did not . * / Senator BROOKHART . What were the net profits CREATION OF A RECONSTRUCTION FINANCE CORPORATION 25.
... cent , and that represented income . Senator BROOKHART . That all went to pay expenses ? Governor MEYER . It did not . * / Senator BROOKHART . What were the net profits CREATION OF A RECONSTRUCTION FINANCE CORPORATION 25.
Page 27
... cents on the dollar ? Governor MEYER . I do not know . Senator BROOKHART . In order to get the money to buy in those bonds they foreclosed the mortgages in default and sold the land on forced sale . Governor MEYER . I do not think they ...
... cents on the dollar ? Governor MEYER . I do not know . Senator BROOKHART . In order to get the money to buy in those bonds they foreclosed the mortgages in default and sold the land on forced sale . Governor MEYER . I do not think they ...
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Common terms and phrases
agricultural amount answer assets bankers believe BENSON billion dollars board of directors borrow BRAINERD BRUERE cent Chairman closed banks collateral committee course debentures depositors depression earnings ECKER eligible emergency export farm farmers Federal reserve banks Federal reserve system financial institutions funds going Government bonds Governor MEYER HARRISON insurance companies Interstate Commerce Commission investment issued JEAN lend life-insurance companies liquid LORENZ maturities ment months mortgages National Credit Corporation obligations operation opinion period poration purpose question railroad bonds railway reconstruction finance corporation rediscount roads savings banks Secretary MILLS sell Senator BLAINE Senator BROOKHART Senator BULKLEY Senator COUZENS Senator FLETCHER Senator GLASS Senator TOWNSEND Senator WAGNER Senator WALCOTT presiding Senator WATSON situation statement surplus thing tion to-day TRAPHAGEN TRAYLOR Treasury United War Finance Corporation WARD WILLARD words York
Popular passages
Page 5 - If any clause, sentence, paragraph, or part of this Act shall for any reason be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair, or invalidate the remainder of this Act, but shall be confined in its operation to the clause, sentence, paragraph, or part thereof directly involved in the controversy in which such judgment shall have been rendered.
Page 1 - The management of the corporation shall be vested in a board of directors consisting of...
Page 3 - Any and all notes, debentures, bonds or other such obligations issued by the corporation shall be exempt both as to principal and Interest from all taxation (except surtaxes, estate, inheritance, and gift taxes) 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.
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 - That the corporation shall be empowered and authorized to adopt, alter, and use a corporate seal; to make contracts; to purchase or lease and hold...
Page 2 - The board of directors of the corporation shall determine and prescribe the manner in which its obligations shall be incurred and its expenses allowed and paid.
Page 2 - SEC. 5. To aid in financing agriculture, commerce, and industry, including facilitating the exportation of agricultural and other products the corporation is authorized and empowered to make loans, upon such terms and conditions not inconsistent with this Act as it may determine...
Page 3 - 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...
Page 5 - 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 the action of the...
Page 1 - Act shall be construed to prevent the appointment and compensation as an officer or employee of the Corporation of any officer or employee of the United States in any board, commission, independent establishment, or executive department thereof.