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Page 84
Every Federal land bank shall semiannually carry to reserve account a sum not
less than 50 per centum of its net earnings until said reserve account shall show
a credit balance equal to the outstanding capital stock of said land bank .
Every Federal land bank shall semiannually carry to reserve account a sum not
less than 50 per centum of its net earnings until said reserve account shall show
a credit balance equal to the outstanding capital stock of said land bank .
Page 76
After said reserve is equal to the outstanding capital stock 10 per centum of the
net earnings shall be added thereto semiannually . Whenever said reserve shall
have been impaired it shall be fully restored before any dividends are paid .
After said reserve is equal to the outstanding capital stock 10 per centum of the
net earnings shall be added thereto semiannually . Whenever said reserve shall
have been impaired it shall be fully restored before any dividends are paid .
Page 36
After said reserve is equal to the outstanding capital stock 10 per centum of the
net earnings shall be added thereto semiannually until said reserve account shall
show a credit balance equal to 150 per centum of the outstanding capital stock of
...
After said reserve is equal to the outstanding capital stock 10 per centum of the
net earnings shall be added thereto semiannually until said reserve account shall
show a credit balance equal to 150 per centum of the outstanding capital stock of
...
Page 37
After said reserve has reached the sum of 25 per centum of the outstanding
capital stock , 5 per centum of the net earnings shall be semiannually added
thereto until said reserve account shall show a credit balance equal to 50 per
centum of ...
After said reserve has reached the sum of 25 per centum of the outstanding
capital stock , 5 per centum of the net earnings shall be semiannually added
thereto until said reserve account shall show a credit balance equal to 50 per
centum of ...
Page
Every Federal land bank shall semiannually carry to reserve account a sum not
less than 50 per centum of its net earnings until said reserve account shall show
a credit balance equal to the outstanding capital stock of said land bank .
Every Federal land bank shall semiannually carry to reserve account a sum not
less than 50 per centum of its net earnings until said reserve account shall show
a credit balance equal to the outstanding capital stock of said land bank .
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Common terms and phrases
39 Stat 48 Stat agencies agents agricultural amended amount application appointed appraisal approval authorized beginning board of directors borrower capital stock centum chapter charge consolidated corporation deposits direct directors district dividends duties elected employees equal examiners exceed Executive Order cited expenses Farm Credit Administration farm loan associations farm loan bonds Farm Mortgage Federal Farm Loan Federal intermediate credit Federal land bank functions funds Government Governor held interest intermediate credit bank issued joint stock land July 17 June 16 Land Bank Commissioner limitations Loan Board ment mentioned mortgages national farm loan necessary obligations Order cited thereto organized paid payment person powers prescribed principal Production Credit purchase pursuant receive registrar reserve respect Secretary shares stock land bank subchapter thereof tion Treasury United
Popular passages
Page 45 - If two or more persons conspire either to commit any offense against the United States or to defraud the United States, or any agency thereof in any manner or for any purpose...
Page 68 - ... shall be held individually responsible, equally and ratably, and not one for another, for all contracts, debts, and engagements of such association to the extent of the amount of their stock therein at the par value thereof, in addition to the amount invested in such shares...
Page 12 - Secretary of the Treasury is authorized and directed to purchase any notes and other obligations issued hereunder and for such purpose he is authorized to use as a public debt transaction the proceeds from the sale of any securities issued under the Second Liberty Bond Act...
Page 12 - ... in the Treasury not otherwise appropriated, and thereupon to the extent of the amount so paid the Secretary of the Treasury shall succeed to all the rights of the holders of such bonds.
Page 102 - Any person who shall falsely make, forge, or counterfeit, or cause or procure to be falsely made, forged, or counterfeited, or willingly aid or assist in falsely making, forging, or counterfeiting any...
Page 38 - Congress to promote the effective merchandising of agricultural commodities in interstate and foreign commerce, so that the industry of agriculture will be placed on a basis of economic equality with other industries...
Page 91 - That every Federal land bank and every national farm loan association, including the capital and reserve or surplus therein and the income derived therefrom, shall be exempt from Federal, State, municipal, and local taxation...
Page 93 - Nothing herein shall prevent all the shares in any association from being included in the valuation of the personal property of the owner or holder of such shares, in assessing taxes imposed by authority of the State within which the association is located...
Page 98 - Comptroller, shall take possession of the books, records, and assets of every description of such association, collect all debts, dues, and claims belonging to it, and, upon the order of a court of record of competent jurisdiction, may sell or compound all bad or doubtful debts, and, on a like order, may sell all the real and personal property of such association, on such terms as the court shall direct; and may, if necessary to pay the debts of such association, enforce the individual liability...
Page 11 - The net earnings derived by the United States from Federal reserve banks shall, in the discretion of the Secretary, be used to supplement the gold reserve held against outstanding United States notes, or shall be applied to the reduction of the outstanding bonded indebtedness of the United States under regulations to be prescribed by the Secretary of the Treasury.
Bibliographic information
| Title | Circular |
| Author | United States. Farm Credit Administration |
| Publisher | The Administration, 1934 |
| Original from | the University of Michigan |
| Digitized | 1 Feb 2007 |
| Export Citation | BiBTeX EndNote RefMan |