A BILL TO EXPAND THE PUBLIC FACILITY LOAN PROGRAM
OF THE COMMUNITY FACILITIES ADMINISTRATION OF
THE HOUSING AND HOME FINANCE AGENCY, AND FOR
OTHER PURPOSES

MARCH 19, 25, AND 26, 1958

Printed for the use of the Committee on Banking and Currency

8 606-7

23334

UNITED STATES
GOVERNMENT PRINTING OFFICE

WASHINGTON: 1958

COMMITTEE ON BANKING AND CURRENCY

J. W. FULBRIGHT, Arkansas, Chairman

A. WILLIS ROBERTSON, Virginia
JOHN J. SPARKMAN, Alabama
J. ALLEN FREAR, JR., Delaware
PAUL H. DOUGLAS, Illinois
A. S. MIKE MONRONEY, Oklahoma
JOSEPH S. CLARK, Pennsylvania

WILLIAM PROXMIRE, Wisconsin

HOMER E. CAPEHART, Indiana
JOHN W. BRICKER, Ohio
WALLACE F. BENNETT, Utah
PRESCOTT S. BUSH, Connecticut
J. GLENN BEALL, Maryland
FREDERICK G. PAYNE, Maine
CLIFFORD P. CASE, New Jersey

J. H. YINGLING, Chief Clerk
ROBERT A. WALLACE, Staff Director

Η

CONTENTS

S. 3497...

Summary of bill.

H. R. 11474.......

Biemiller, Andrew J., director, department of legislation; accom-
panied by Bert Seidman, economist, AFL-CIO_

Calvert, Gordon L., municipal director and assistant general counsel;
accompanied by Frank E. Morris, research director, Investment
Bankers Association of America

Hazeltine, John C., Commissioner, Community Facilities Administra-

tion, Housing and Home Finance Agency-

Healy, Patrick, Jr., executive director, American Municipal Associa-
tion, presenting statement of George Christopher, mayor of San
Francisco, president of American Municipal Association.

Perkins, Carl D., a Representative in Congress from the State of

Kentucky

Schone, Harold K., director of public works for Oakland County,

Mich., representing the National Association of County Officials;

accompanied by John G. Semann, chairman, Oakland County Drain

Committee; R. J. Alexander, deputy director, Oakland County

Department of Public Works; Delos Hamlin, chairman, Oakland

County Board of Supervisors; Daniel W. Barry, Oakland County

drain commissioner; and Robert P. Allen, deputy corporation coun-

sel, Oakland County.

Letters, statements, etc., submitted for the record by-

Page

14

16

32

141

180

35

90

167

152

American Hospital Association, Kenneth Williamson, associate direc-

tor: Letter to Senator Fulbright..

174

Calvert, Gordon L., municipal director and assistant general counsel,

Investment Bankers Association of America:

Sale of long-term bonds by States and municipalities.

181

State and municipal bonds sold January and February 1958, by

use of proceeds..

182

Changes in employment (seasonally adjusted) in nonagricultural

establishments.

188

Statement...

193

Appendix A-State and municipal bonds sold, 1957, by

State.

196

Appendix B-State and municipal bonds sold January and

February, 1958.

197

Appendix C-State and municipal bonds sold January and

February 1958, by State, and net interest cost.

197

Chamber of Commerce of the United States: Statement.

176

Commerce Department: Report on S. 3497.

89

Community Facilities Administration:

Program of advances for public works planning, by States:

Status...

Public facility loans program-applications approved.

Program of advances for public works planning:

Public works planning projects including those where plans

have been completed, grouped according to depressed

areas..

44

Status of construction of Indiana public works planning

projects.

Advances approved-plans in preparation, by States, with

rating

Plans completed, by States, with rating.