Additional Capital for Federal Land Banks: Hearings Before ... H.R. 4741 (H.R. 6172) ... , December 16, 1931 |
From inside the book
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Page 24
... understand the chairman's question to cover any such proposal . Mr. STRONG . All right . The CHAIRMAN . No ; I had no thought of any effort to take care of the losses of depositors in closed banks . In fact , I do not understand that ...
... understand the chairman's question to cover any such proposal . Mr. STRONG . All right . The CHAIRMAN . No ; I had no thought of any effort to take care of the losses of depositors in closed banks . In fact , I do not understand that ...
Page 35
... understand these securities or debentures to be issued can be purchased by the Federal reserve banks in the market ? Mr. MEYER . What they call the " open market . " They might be purchased from the corporation or from holders in the ...
... understand these securities or debentures to be issued can be purchased by the Federal reserve banks in the market ? Mr. MEYER . What they call the " open market . " They might be purchased from the corporation or from holders in the ...
Page 37
... understand that one of the principal func- tions of this institution will be to grant the necessary credit to the ... understanding that anything will be taken over from the National Credit Corporation , if that is the point your ...
... understand that one of the principal func- tions of this institution will be to grant the necessary credit to the ... understanding that anything will be taken over from the National Credit Corporation , if that is the point your ...
Page 38
... understand you to mean without recourse ! Mr. MCFADDEN . No ; I did not say without recourse . Mr. MEYER . That is what buying assets ordinarily means . Mr. MCFADDEN . Yes , I understand that . Mr. MEYER . All loans under the bill must ...
... understand you to mean without recourse ! Mr. MCFADDEN . No ; I did not say without recourse . Mr. MEYER . That is what buying assets ordinarily means . Mr. MCFADDEN . Yes , I understand that . Mr. MEYER . All loans under the bill must ...
Page 42
... understand , $ 30,000,000 of uncalled capi- tal . It was not needed and has been kept in reserve . I think it is correct that this uncalled capital is more useful- Mr. STEVENSON . $ 60,000,000 ? Mr. MEYER . No , $ 30,000,000 uncalled ...
... understand , $ 30,000,000 of uncalled capi- tal . It was not needed and has been kept in reserve . I think it is correct that this uncalled capital is more useful- Mr. STEVENSON . $ 60,000,000 ? Mr. MEYER . No , $ 30,000,000 uncalled ...
Common terms and phrases
amendment amount assets bank deposits bank failures bankers banking system BESTOR bill BODFISH bonds borrow branch banking BRAND building and loan BUSBY capital stock CHAIRMAN collateral committee Congress course debentures DEMPSEY depositors dividends dollars earnings eligible fact farm loan Federal home loan Federal land bank Federal reserve act Federal reserve banks Federal Reserve Board Federal reserve notes Federal reserve system FIERSON gentlemen going GOLDSBOROUGH Government guarantee guaranty fund HANCOCK hear home loan bank home owner House institutions interest Interstate Commerce Commission investment JEAN legislation liquidation loan associations LUCE MCFADDEN member banks MEYER millions national banks obligations paid POLE President question railroads Reconstruction Finance Corporation rediscount REILLY SABATH Secretary MILLS Senate short-line railroads situation statement STEAGALL STEVENSON suggestion supervision surplus thing tion to-day Treasury United War Finance Corporation WILLIAMS
Popular passages
Page 11 - Corporation shall be exempt, both as to principal and interest, from all taxation now or hereafter imposed by the United States, any State, or any of the possessions of the United States...
Page 82 - That is not what I am talking about. I am talking about, for example, the Mad River, or the Naugatuck River, which are not navigable.
Page 6 - Whoever makes any statement knowing it to be false, or whoever willfully overvalues any security, for the purpose of obtaining for himself or...
Page 4 - 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 12 - That no association shall at any time be indebted, or in any way liable, to an amount exceeding the amount of its capital stock at such time actually paid in and remaining undiminished by losses or otherwise, except on the following accounts, that is to say:
Page 11 - ... now or hereafter imposed by the United States, any State, or any of the possessions of the United States, or by any local taxing authority, except (a) estate or inheritance taxes, and (b) graduated additional income taxes, commonly known as surtaxes, and excess-profits and war-profits taxes, now or hereafter imposed by the United States, upon the income or profits of individuals, partnerships, corporations, or associations.
Page 92 - Secretary of the Treasury, the governor of the Federal Reserve Board, and the farm loan commissioner...
Page 8 - Sixth. To prescribe by its board of directors, by-laws not inconsistent with law, regulating the manner in which its general business may be conducted, and the privileges granted to it by law may be exercised and enjoyed.
Page 36 - The Secretary of the Treasury is authorized and directed to purchase any notes and other obligations to be 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, as amended, and the purposes for which securities may be issued under such Act, as amended, are extended to include any purchases of such notes and obligations.
Page 49 - No applying bank shall be admitted to membership in a Federal reserve bank unless it possesses a paid-up unimpaired capital sufficient to entitle it to become a national banking association in the place where it is situated, under the provisions of the national banking Act.