COMMITTEE ON BANKING, HOUSING AND URBAN AFFAIRS JOHN SPARKMAN. Alabama, Chairman WILLIAM PROXMIRE, Wisconsin J. BENNETT JOHNSTON, JR., Louisiana JOHN TOWER, Texas WALLACE F. BENNETT, Utah EDWARD W. BROOKE, Massachusetts BILL BROCK, Tennessee LOWELL P. WEICKER, JR., Connecticut DUDLEY L. O'NEAL, Jr., Staff Director and General Counsel SUBCOMMITTEE ON FINANCIAL INSTITUTIONS THOMAS J. MCINTYRE, New Hampshire, Chairman JOHN SPARKMAN, Alabama WALLACE F. BENNETT, Utah WILLIAM R. WEBER, Assistant Counsel (II) CONTENTS Page James E. Smith, Comptroller of the Currency_ Jeffrey M. Bucher, Member, Board of Governors, Federal Reserve Board Grady Perry, Jr., Member, Federal Home Loan Bank Board. Hugh F. Sinclair, Commissioner of Banks, State of Tennessee- Adrian O. McLellan, President, First National Bank, Great Falls, Mont- Edward M. Penick, Chairman of the Board, Worthen Bank & Trust Co., Robert H. Wickard, President, Wickard & Co., Little Rock, Ark. Edward H. Cherry, President, Bank of North East Arkansas__ Professor John Dominick, Professor of Banking, University of Arkansas__ H. L. Hembree, Chairman, Arkansas Best Corp., Fort Smith, Ark. William W. Mitchell, President, Tennessee Bankers Association Nelson Andrews, President, McClure's Department Store, Nashville, Tenn. J. Garrett Burdett, President, Tennesco, Knoxville, Tenn... Andrew J. Biemiller; Director, American Federation of Labor and Con- 167 ADDITIONAL STATEMENTS AND DATA Letter from Rex J. Morthland, president, supporting S. 3817_- Opinion of Matthew Hale, general counsel, on interest rate ceilings Conference of State Bank Supervisors, letter to Senator McIntyre from 26 Cook Industries Inc., letter to Governor of Tennessee from Edward W. 74 Cumberland Corp., letter to Comptroller of the Currency from W. W. Duff Brothers, Inc., letter to members of Tennessee general assembly. Federal Reserve Bank of St. Louis, exchange of letters with Worthen Bank & Trust Co. regarding extension of emergency credit__ Fulbright, J. W., U.S. Senator from the State of Arkansas, letter to Sen- Genesco, letter to Governor of Tennessee from Franklin M. Jarman, 72 73 20 33 Life and Casualty Insurance Co. of Tennessee, letter to Governor from Stone Fort Land Co., letter to Tennessee State senator from T. A. Lupton, Tennessee: Bankers Association: Page 71 75 Letter to Senator Brock from Winfield Dunn, Governor. Office of the Attorney General, letter to Hugh F. Sinclair, Commis- The Chamberlain Co., letter to Treasury Department from J. R. Chamber- 98 102 114 135 25 26 77 69 The Robert Morris Associates, letter to Senator McIntyre from Norman 169 Venus, Dr. Charles E., consulting economist, articles on Arkansas usury provision... 149 CHARTS AND TABLES Comparable cash prices between various States__ 153 Comparison of Federal Reserve discount rate plus 5 percent and FHA home mortgage yield.. 168 Percentage changes in commercial and industrial loans, weekly reporting member banks, selected areas, last Wednesday of April to last Wednesday in June, selected years.. Worthen Bank & Trust Co.: Deposits - - Due to banks and participations sold.. Total deposits at end of month, 1971–74_ 27 163 164 163 164 |