Rural Credits: Hearings Before the Committee on Banking and Currency, United States Senate, Sixty-seventh Congress, Fourth Session, on Senate Bills to Provide Credit Facilities for the Agricultural and Livestock Industries in the United States; to Amend the Federal Farm Loan Act; to Amend the Federal Reserve Act; and for Other Purposes ...U.S. Government Printing Office, 1922 - Agricultural credit |
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Common terms and phrases
advances agricultural paper amendment amount bankers BIXBY bonds borrow branch banking Capper bill cattle cent CHAIRMAN committee commodity cooperative associations cooperative marketing associations cotton country banks crop deposits directors discount districts eligible farm loan act Farm Loan Board farmers Federal debenture bank Federal farm loan Federal land bank Federal reserve act Federal reserve bank Federal Reserve Board Federal reserve system Federal rural credits Finance Corporation funds Government growers indorsement institutions investment issued joint-stock land banks LEFFINGWELL Lenroot bill limit LOBDELL maturity MCSWAIN member banks MEYER mortgage MYRICK national banks nine months operations organization PLATT purpose rediscount rural credits board rural credits company SAPIRO Secretary MELLON sell Senator CAPPER Senator FLETCHER Senator GLASS Senator HITCHCOCK Senator KENDRICK Senator LENROOT Senator NORBECK Senator POMERENE Senator SHORTRIDGE Senator SIMMONS six months tion Treasury United War Finance Corporation
Popular passages
Page 154 - 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, or by any local taxing authority...
Page 155 - Nothing herein shall be construed to exempt the real property of associations from either State, county, or municipal taxes to the same extent, according to its value, as other real property is taxed.
Page 154 - Act, shall be deemed and held to be instrumentalities of the Government of the United States, and as such they and the income derived therefrom shall be exempt from Federal, State, municipal, and local taxation.
Page 242 - After all necessary expenses of a Federal reserve bank have been paid or provided for, the stockholders shall be entitled to receive an annual dividend of six per centum on the paid-in capital stock, which dividend shall be cumulative. After the aforesaid dividend claims have been fully met...
Page 158 - If any clause, sentence, paragraph, or part of this Act shall for any reason be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair, or invalidate the remainder of this Act, but shall be confined in its operation to the clause, sentence, paragraph, or part thereof directly involved in the controversy in which such judgment shall have been rendered.
Page 156 - 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 157 - ... shall be a beneficiary of or receive, directly or indirectly, any fee, commission, gift, or other consideration for or in connection with any transaction or business of the bank.
Page 228 - An Act to provide capital for agricultural development, to create standard forms of investment based upon farm mortgage, to equalize rates of interest upon farm loans, to furnish a market for United States bonds, to create Government depositaries and financial agents for the United States, and for other purposes.
Page 160 - Upon the indorsement of any of its member banks, which shall be deemed a waiver of demand, notice, and protest by such bank as to its own indorsement exclusively, any federal reserve bank may discount notes, drafts, and bills of exchange arising out of actual commercial transactions...
Page 229 - Said examiners shall be subject to the same requirements, responsibilities and penalties as are applicable to National bank examiners under the National Bank Act, the Federal Reserve Act and other provisions of law. Whenever directed by the Federal Farm Loan Board...