Small Business Act of 1950: Hearings Before the Committee on Banking and Currency, United States Senate, Eighty-first Congress, Second Session, on S. 529 [and Others] ... Bills to Make Capital and Credit More Readily Available for Financing Small Business. Part 1, Partie 1U.S. Government Printing Office, 1950 - 172 pages Considers legislation to increase Reconstruction Finance Corp. loans to small businesses and to authorize establishment of national investment companies for small business. |
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agencies amended amortization amount appropriate approval assets authorized bankers Board of Directors Board of Governors borrower BOYD business loans centum CHAIRMAN collateral commercial banks committee Congress Coordinator corporation organized COSGRIFF Department of Commerce depreciation economic eligible equity capital facilities Federal Reserve Act Federal Reserve bank Federal Reserve Board Federal Reserve System financial institutions financing funds going Government guarantee GUNDERSON hearings hereby income independent business enterprises independent small business industry interest KIRBY legislation lending institutions Maybank MCCABE member banks ment national investment company ness obligations officers operations paragraph problems production proposed purchase purposes question reasonable Reconstruction Finance Corporation record regulations requirements SAWYER Senator BENTON Senator CAPEHART Senator LUCAS Senator ROBERTSON Senator SPARKMAN shares Small Business Act small business enterprises small-business loans statement thereof thing tion United
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Page 24 - maintain an integral set of accounts which shall be audited annually by the General Accounting Office in accordance with the principles and procedures applicable to commercial transactions as provided by the Government Corporation Control Act, as amended: Provided, That financial transactions of the
Page 33 - (5 USC 55a), and individuals so employed may be compensated at rates not in excess of $50 per diem and shall be allowed travel expenses as authorized by section 5 of said Act (5 USC 73b-2) for persons so employed. Service of an individual as such expert or consultant shall not be considered
Page 5 - at any time, sell any of the obligations of the Corporation acquired by him under this section. All redemptions, purchases, and sales by the Secretary of the Treasury of the obligations of the Corporation shall be treated as public-debt transactions of the United States. Such obligations shall not be eligible for discount or purchase by any Federal Reserve bank.
Page 5 - obligations. The Secretary of the Treasury, in his discretion, is authorized to purchase any obligations of the Corporation to be issued hereunder, and for such purpose the Secretary of the Treasury is authorized to use as a public-debt transaction the proceeds from the sale of any securities hereafter issued under the Second Liberty Bond Act,
Page 10 - to adopt bylaws regulating the manner in which its stock shall be transferred, its directors elected or appointed, its officers and employees appointed, its property transferred, and the privileges granted to it by law exercised and enjoyed; and shall have the other powers set forth in this section.
Page 8 - such provision to any person or circumstances shall be held invalid, the validity of the remainder of the Act and the applicability of such provision to other persons or circumstances shall not be affected thereby. [S. 2947, 81st Cong.,
Page 20 - per annum. All other officers and employees shall be appointed in accordance with the civil-service laws and their compensation fixed in accordance with the Classification Act of 1949. (d) To the fullest extent practicable, the Coordinator shall utilize the facilities of small business advisory boards created to assist and counsel Federal agencies, and
Page 26 - (c) The Commission may from time to time by its rules and regulations, and subject to such terms and conditions as may be prescribed therein, add to the securities exempted as provided in this section any class of securities issued by a national investment company under the Small Business Act of
Page 5 - years from their respective dates of issue, to be redeemable at the option of the Corporation before maturity in such manner as may be stipulated in such obligations, and to bear such rate or rates of interest
Page 33 - and duties vested in him by this Act, the Secretary, notwithstanding the provisions of any other law, may— (a) prepare and disseminate information concerning the activities undertaken under this Act; (b) enter into contracts; and (c) employ experts and consultants or organizations thereof as authorized by section 15 of the Act of August 2, 1940 (5 USC 55a), and