Farm Credit Act of 1940: Hearings Before a Subcommittee of the Committee on Banking and Currency, United States Senate, Seventy-sixth Congress, Third Session, on S.3509, a Bill to Reduce Permanently the Interest Rates on Federal Land Bank and Land Bank Commissioner Loans; to Relieve Federal Land Bank Borrowers of Stock Liability; to Place the Federal Land Banks on a Self-supporting Basis; to Refund and Guarantee the Bonds of Such Banks; to Increase the Functions and Responsibilities of National Farm-loan Associations and County Committees of Farmers; to Provide for the Adjustment and Refinancing of Farm-mortgage Debts; to Limit the Institution of Foreclosure Proceedings and the Taking of Deficiency Judgments; and for Other Purposes, May 7, 8, 9, 10, 16, 17, and June 7, 1940U.S. Government Printing Office, 1940 - 297 pages |
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Page 1
... paid by the borrower when due and paid by the mortgagee , skall be the same as the rate of interest payable by such borrower under the provisions of subsection ( a ) of this section . ( c ) If the average rate of interest estimated by ...
... paid by the borrower when due and paid by the mortgagee , skall be the same as the rate of interest payable by such borrower under the provisions of subsection ( a ) of this section . ( c ) If the average rate of interest estimated by ...
Page 2
... paid - in surplus ) is more than 2 per centum of the principal amount of such bonds and obligations , the Secretary of the Treasury shall pay to such bank or to the Corporation the amount of such excess . There is hereby authorized to ...
... paid - in surplus ) is more than 2 per centum of the principal amount of such bonds and obligations , the Secretary of the Treasury shall pay to such bank or to the Corporation the amount of such excess . There is hereby authorized to ...
Page 3
... paid off and retired at par , with dividends accrued and payable while such stock is outstanding . The capital stock or each national farm - loan association shall be paid off and retired at its fair book value , determined by the ...
... paid off and retired at par , with dividends accrued and payable while such stock is outstanding . The capital stock or each national farm - loan association shall be paid off and retired at its fair book value , determined by the ...
Page 11
... paid on these loans ? Mr. BLACK . That has been the effect of it . Senator FRAZIER . That makes it a pretty high rate of interest ? Mr. BLACK . It depends on the length or the term of the actual loan . Senator FRAZIER . Of course , the ...
... paid on these loans ? Mr. BLACK . That has been the effect of it . Senator FRAZIER . That makes it a pretty high rate of interest ? Mr. BLACK . It depends on the length or the term of the actual loan . Senator FRAZIER . Of course , the ...
Page 12
... paid off . Obviously a stockholder in a hopelessly insolvent association is no longer an active cooperator in the sense contemplated by the present act . It seems vital to the interest of agriculture and to the United States as a whole ...
... paid off . Obviously a stockholder in a hopelessly insolvent association is no longer an active cooperator in the sense contemplated by the present act . It seems vital to the interest of agriculture and to the United States as a whole ...
Expressions et termes fréquents
agency agriculture amended amount approval asso authority basis bill BLACK board of directors borrower committee Congress cooperative features cost credit system deferments deficiency judgments delinquencies DICKINSON district dividends effect elected extensions Farm Credit Administration farm credit system Farm Loan Act farm loan bonds Farm Mortgage Corporation farmers Federal Farm Loan Federal Farm Mortgage Federal land bank foreclosure Goss Government Governor guaranteed income indebtedness installment dates interest rates interest reduction June 30 Land Bank Commissioner land-bank loans land-bank system loan associations losses ment mortgage loans national farm national farm-loan associations National Farmers Union operation organization outstanding paid paid-in surplus partial release percent period present principal purchase rate of interest reamortization reduced refinancing registrar Secretary WALLACE Senator BANKHEAD Senator BYRNES Senator FRAZIER Senator HUGHES Senator LA FOLLETTE Senator MILLER Senator TOBEY Senator WHEELER SHORT statement Subrogation tion Treasury United
Fréquemment cités
Page 2 - 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, as amended...
Page 2 - All redemptions, purchases, and sales by the Secretary of the Treasury of such notes or other obligations shall be treated as public debt transactions of the United States.
Page 126 - Corporation have been reduced during the fiscal year 1941, and prior thereto, in accordance with the provisions of section 32 of the Emergency Farm Mortgage Act of 1933...
Page 114 - ... and no payment of the principal portion of any installment of any such loan shall be required during such five-year period if the borrower shall not be in default with respect to any other condition or covenant of his mortgage.
Page 285 - All obligations issued by the Authority shall be lawful investments, and may be accepted as security for all fiduciary, trust, and public funds, the investment or deposit of which shall be under authority or control of the United States or of any officer or officers thereof.
Page 3 - Governor is authorized to make such rules and regulations as may be necessary for carrying out the provisions of this section.
Page 2 - Treasury may, at any time, sell any of the bonds acquired by him under this section. All redemptions, purchases, and sales by the Secretary of the Treasury of such bonds shall be treated as public-debt transactions of the United States. No such bonds shall be issued in excess of the assets of the...
Page 285 - Such obligations shall be in such forms and denominations, shall have such maturities, shall bear such rates of interest, shall be subject to such terms and conditions, and shall be issued in such manner and sold at such prices as may be prescribed by the Commodity Credit Corporation, with the approval of the Secretary of the Treasury.
Page 295 - TO AMEND SEC. 18. (a) The right to alter, amend, or repeal this Act, or any part thereof, is expressly reserved. (b) Any provision of the Federal Farm Loan Act, as amended, the Emergency Farm Mortgage Act of 1933, as amended, or other law, inconsistent with the provisions of this Act, is hereby repealed.
Page 152 - ... something of that kind passed — at least I am — in order to restore purchasing power to the farmer and to give him an income and a profit. (The additional data requested of the witness will, when furnished, be inserted in the record at this point.) THE NATIONAL GRANGE, Columbus, Ohio, May 13, 1940. Hon. ROBERT F. WAGNER, Chairman, Banking and Currency Committee, United States Senate, Washington, DC SUGGESTED CORRECTIVE AMENDMENTS DEAR SENATOR WAGNER: In response to the request of Acting Chairman...