Miscellaneous Hearings

MISCELLANEOUS HEARINGS

LIBRARY

COMMITTEE ON BANKING AND CURRENCY

HOUSE OF REPRESENTATIVES

EIGHTY-FIRST CONGRESS

FIRST SESSION

ON

A

DIV.

1950

DOCUMENT

H. R. 1161, 1660, 1732, 2730, 5044, 5533, 6305,

and H. J. Res. 188

73190

VOLUME 1

Printed for the use of the Committee on Banking and Currency

UNITED STATES
GOVERNMENT PRINTING OFFICE

WASHINGTON: 1950

CONTENTS

Page

VOLUNTARY AGREEMENTS AUTHORITY

H. R. 1660. A bill to continue through September 30, 1949, certain author-

ity conferred on the President by section 2 of Public Law 395, Eightieth

Congress, regarding voluntary agreements and plans__

Statement of-

Clark, Earl W., Director, Office of Industry Cooperation..

Eckelberry, John W., Chief Legal Adviser, Office of Industry Coopera-

tion

Sawyer, Hon. Charles, Secretary of Commerce_

DISTINGUISHED SERVICES OF VICE PRESIDENT ALBEN W. BARKLEY

House Joint Resolution No. 188. Joint resolution to provide for the coinage

of a medal in recognition of the distinguished services of Vice President

Alben W. Barkley-

Statement of-

Howard, Leland, Assistant Director of the Mint__

3

4

ALLOCATION OF TIN AND TIN PRODUCTS

H. R. 5044. A bill to continue for a temporary period certain powers,

authority, and discretion in respect to tin and tin products conferred

upon the President by the Second Decontrol Act of 1947, and for other

purposes...

Statement of—

Blaisdell, Hon. Thomas C., Jr., Assistant Secretary of Commerce____

AMENDMENTS TO THE NATIONAL HOUSING ACT AND THE

RECONSTRUCTION FINANCE CORPORATION ACT

H. R. 5533. A bill to amend the National Housing Act, as amended, and

the Reconstruction Finance Corporation Act, as amended___

Statement of—

Dougherty, James L., general counsel, Reconstruction Finance

Corporation.

Foley, Raymond M., Housing and Home Finance Administrator_-_-

III

CONVERSION OF NATIONAL BANKS

H. R. 1161. A bill to provide for the conversion of national banking associa-

tions into and their merger or consolidation with State banks, and for

other purposes-

Statement of-

Brumbaugh, D. Emmert, secretary of banking, State of Pennsylvania_

Lynch, Thomas J., general counsel, Treasury Department__

TRANSFER OF LAND TO THE STATE OF MARYLAND

H. R. 2730. A bill to provide for the conveyance to the State of Maryland

of certain land situated in Greenbelt, Md.......

Statement of-

Sasscer, Hon. Lansdale G., a Representative in Congress from the

State of Maryland__

AMENDMENTS TO THE NATIONAL HOUSING ACT, FEDERAL HOME

LOAN BANK ACT, AND HOME OWNERS' LOAN ACT OF 1933

H. R. 1732. A bill to amend the National Housing Act, and for other pur-
poses--

H. R. 4710. A bill to amend the Home Owners' Loan Act of 1933, with

respect to Federal savings and loan associations____

H. R. 5595. A bill to amend the National Housing Act, as amended, and

for other purposes.

H. R. 5596. A bill to amend title IV of the National Housing Act, as

amended, and to amend the Federal Home Loan Bank Act, as amended,

and for other purposes-

Statement of—

Foley, Raymond M., Administrator, Housing and Home Finance

Agency-

Divers, William K., Chairman, Home Loan Bank Board_

Additional information submitted for inclusion in the record:

Report of the Select Committee To Investigate Executive Agencies

(79th Cong., 2d sess.)

Investigation of executive agencies.

Federal Home Loan Bank of Los Angeles_

Long Beach Federal Savings and Loan Association_

House Resolution 88, Seventy-ninth Congress, first session__

House Resolution 102, Seventy-eighth Congress, first session_

Federal Home Loan Bank Act..

126

127

Appendix B:

Los Angeles Exhibit No. 6-Federal Home Loan Bank

Administration___.

129

Los Angeles Exhibit No. 7-Federal Home Loan Bank

Administration_

130

Los Angeles Exhibit No. 8-Federal Home Loan Bank

Administration_.

130

Long Beach Exhibit No. 3-Federal Home Loan Bank

Administration__

Federal home loan banks-cumulative_advances and repayments

from beginning of operations through June 30, 1949, with balance

outstanding on June 30, 1949, reflected by States and by districts__`

INTERNATIONAL WHEAT AGREEMENT OF 1949

H. R. 6305. A bill to give effect to the International Wheat Agreement

signed by the United States and other countries relating to the stabiliza-

tion of supplies and prices in the international wheat market‒‒‒‒‒

Statement of—

131

143

149

Brooks, William F., executive secretary, National Grain Trade

Council

206

Fakler, Herman, vice president, Millers' National Federation, Wash-

ington, D. C..

190

FitzGerald, Dr. D. A., Director, Food and Agriculture Division,

Economic Cooperation Administration..

195

Sanders, J. T., legislative counsel, the National Grange.

197

Shulman, E. M., Assistant Solicitor, United States Department of

Agriculture.

162

Smith, Russell, legislative secretary, National Farmers Union.

Trigg, Ralph S., Administrator, Production and Marketing Admin-

istration, and President, Commodity Credit Corporation, United

States Department of Agriculture---.

220

151

Page

Additional information submitted for the information of the committee-
American Farm Bureau Federation, telegram of October 5, 1949, from

International Wheat Agreement..

206

172

Article IV-Recording of transactions against guaranteed

quantities.

175

Article V-Enforcement of rights.

Article VIII-Information to be supplied to the Council..

Part 3-Adjustment of guaranteed quantities.

180

Article IX-Adjustments in case of nonparticipation or with-

drawal of countries_

Article X-Adjustment in case of short crop or necessity to

safeguard balance of payments or monetary reserves..

Article XI-Increase of guaranteed quantities by consent.--

Article XII- Additional purchases in case of critical need__

Part 4- Administration____

Article XIII- The Council_

Article XIV-Executive committee_

Article XV—Advisory Committee on Price Equivalents_

Article XVI-The Secretary-

Article XVII-Finance___

102 1 1

Article XVIII-Cooperation with other intergovernmental

organizations__

Article XIX-Disputes and complaints.

Part 5-Final provisions--

Article XX-Signature, acceptance, and entry into force_

Article XXI-Accession___

Article XXII-—Duration, amendment, withdrawal, and ter-

mination.

185

186

Shulman, Edward M., letter of October 7, 1949, to Hon. Brent Spence

168

Article XXIII- Territorial application.

180

181

183

184

185

Books

Miscellaneous Hearings: Committee on Banking and Currency, House ..., Volume 1