Farm Credit Act of 1935, Hearing Before ..., 74-1 on H.R. 4512 (H.R. 5440 Reported), February 1, 2, and 6, 1935, Parts 12-131935 - 91 pages |
From inside the book
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Page 33
... loss suffered in interest . The improvement in the agricultural situation puts the land bank bonds now in position so that it is felt that they are relieved from the result of the enforced lower rate of interest , and that until 1938 ...
... loss suffered in interest . The improvement in the agricultural situation puts the land bank bonds now in position so that it is felt that they are relieved from the result of the enforced lower rate of interest , and that until 1938 ...
Page 50
... losses . But up to this point there have been no losses on any loans in the central bank for cooperatives . The CHAIRMAN . Is it customary to make loans to cooperatives without any sort of security ? Mr. PECK . NO . They are all secured ...
... losses . But up to this point there have been no losses on any loans in the central bank for cooperatives . The CHAIRMAN . Is it customary to make loans to cooperatives without any sort of security ? Mr. PECK . NO . They are all secured ...
Page 51
... losses are absorbed by the taxpayers . Of course , those cotton buyers who either sell to or buy from the cooperatives are getting along all right . They can generally sell higher and buy cheaper there than anywhere else . Legitimate ...
... losses are absorbed by the taxpayers . Of course , those cotton buyers who either sell to or buy from the cooperatives are getting along all right . They can generally sell higher and buy cheaper there than anywhere else . Legitimate ...
Page 55
... loss for which the producer is not actually held liable . Now , Mr. Chairman , what I am talking about there is this , the so - called " patronage " dividend . I do not know whether you gen- tlemen know of it . The patronage dividend is ...
... loss for which the producer is not actually held liable . Now , Mr. Chairman , what I am talking about there is this , the so - called " patronage " dividend . I do not know whether you gen- tlemen know of it . The patronage dividend is ...
Page 57
... losses ; he is willing to accept the check , but not to share in the losses of the association . He is not taking any chance . And that is where we claim , and I think correctly , that they are not bona fide members of a cooperative ...
... losses ; he is willing to accept the check , but not to share in the losses of the association . He is not taking any chance . And that is where we claim , and I think correctly , that they are not bona fide members of a cooperative ...
Common terms and phrases
$100 valuation agencies Agricultural Adjustment Administration Agricultural Marketing Act amends section American Cotton Cooperative amount ANDRESEN application average Bank Commissioner loans banks for cooperatives basis BOILEAU borrow BUTLER Capper-Volstead Act CHAIRMAN committee Congress COOLEY Cotton Cooperative Association cotton merchant cotton shippers debentures debt DOXEY Emergency Farm Mortgage engage in farming Farm Board Farm Credit Act Farm Credit Administration Farm Loan Act Farm Mortgage Act Farm Mortgage Corporation farmers Federal Farm Board Federal Farm Loan Federal Farm Mortgage Federal intermediate credit Federal land bank financing FLANNAGAN funds GILCHRIST Government Governor Myers handling HOHENBERG HOPE HOVEY insurance rate intermediate credit banks KLEBERG Land Bank Commissioner LORDAN losses membership November 30 operations payment percent PIERCE profits purchase question rate of interest refinancing statement storage and insurance storage rate subsection tion title 12 valuation per month
Popular passages
Page 5 - Third. That the association shall not deal in farm products, farm supplies, and farm business services with or for nonmembers in an amount greater In value than the total amount of such business transacted by it with or for members. All business transacted by any cooperative association for or on behalf of the United States or any agency or instrumentality thereof shall be disregarded in determining the volume of member and nonmember business transacted by such association.
Page 4 - 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 5 - The first sentence of subsection (a) of section 30 of the Emergency Farm Mortgage Act of 1933 is amended by striking out the words
Page 3 - ... secured by such collateral as may be approved by the Governor of the Farm Credit Administration;".
Page 5 - Act is amended by striking out the period at the end and inserting in lieu thereof a comma and the following: "and $100,000,000 for the fiscal year ending June 30, 1951.
Page 3 - May 26, 1924, as amended (USC, title 8, sec. 203), is hereby amended by striking out the period at the end thereof and inserting in lieu thereof a comma and the following : "and...
Page 4 - Commissioner, from time to time establish rates of discount and interest which, except with the anproval of the Governor of the Farm Credit Administration, shall not exceed by more than 1 per centum per annum the rate borne by the last preceding issue of debentures which it issued or in which it participated. Any Federal intermediate credit bank...
Page 4 - cooperative association" means any association in which farmers act together in processing, preparing for market, handling, and/or marketing the farm products of persons so engaged, and also means any association in which farmers act together in purchasing, testing, grading, processing, distributing, and/or furnishing .farm supplies and/or farm business services: .Provided, however, That such associations are operated for the mutual benefit of the members thereof as such producers or purchasers and...
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 4 - As used in this Act, the term "cooperative association" means any association in which farmers act together in processing, preparing for market, handling, and/or marketing the farm products of persons so engaged, and also means any association in which farmers act together in purchasing, testing, grading, processing, distributing, and/or furnishing .farm supplies and/or farm business services: .Provided, however, That such associations are operated for...