CONTENTS

S. 2287. An act to amend the Reconstruction Finance Corporation Act, as

amended, and for other purposes.

H. R. 5129. A bill relating to the taxation of certain property owned by

the Reconstruction Finance Corporation.--

H. R. 5637. A bill to amend the Reconstruction Finance Corporation Act,

as amended, so as to eliminate the exemption of certain real property of

the Reconstruction Finance Corporation from State, Territorial, county,

municipal, and local taxation__.

Statement of-

Coogan, Thomas, secretary, National Association of Home Builders._

Corry, Edgar C., Jr., national commander, American Veterans of

World War II.

Creswell, Jay, president, Pneumatics, Inc., Plymouth, Ind.

Goodloe, John D., Chairman, Board of Directors, Reconstruction

Finance Corporation..

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1

5

5

99

109

104

6, 109

Johnson, Hon. Leroy, a Representative in Congress from the Third

District of California_

51

Kenyon, E. A., Assistant Director of Corporation Audits.

Lyle, George D., chairman, Michigan Veterans Housing Committee__

Neel, Samuel E., counsel, Mortgage Bankers Association of America

Northup, H. R., secretary-manager, National Retail Lumber Dealers

Association.

Weitzel, Frank H., Assistant to the Comptroller General_
Westfall, T. B., accountant....

Additional information submitted for the record:

68

123

58

108

68

68

Bakke, Norris C., Assistant General Counsel, Federal Deposit Insur-
ance Corporation, letter of January 13, 1948, to Lewis M. Stevens. 10, 35
Dineen, Robert E., superintendent of insurance, State of New York,
letter of January 16, 1948, to Hon. C. Douglass Buck..

Federal National Mortgage Association mortgages, information on-

Commitments for purchase, authorized__

11, 32

117

Contracts purchased__.

Applications and dispositions, by months, 1947 and 1948.

Applications and dispositions, March 1948-

117

117

118

Financial statement, June 30, 1947--

118

Income and expense from February 1938 through June 30, 1947.

Authorizations, cancellations, disbursements, and repayments,

February 10, 1938, through June 30, 1947.

119

120

Analysis of repayments and other reductions, February 10, 1938,

through June 30, 1947.

122

Goodloe, Hon. John D.:

Lending and investment functions, February 29, 1948..

Letter of April 22, 1948, to Hon. Jesse P. Wolcott.

43

12

Letter from N. E. Dodd, Acting Secretary, Department of Agri-

culture, dated April 20, 1948__

19

Letter of April 14, 1948, to Hon. Clinton P. Anderson_.

19

Letter of March 17, 1948, to Hon. C. Douglass Buck..

Letter of March 18, 1948, to Hon. C. Douglass Buck_.

23

*2 222*

Liquidation of Reconstruction Finance Corporation's investment

in preferred stock, debentures, and capital notes of banks

(tabulation).

Position of RFC with respect to $2,000,000,000 limitation imposed

by Public Law No. 132...

Additional information-Continued

Neel, Samuel E., Mortgage Bankers Association of America:

Table 1. New mortgage recordings (mortgages of $20,000 or

under)__

Table 2. New construction put in place

Table 3. Housing statistics-

Recommendations of the Mortgage Bankers Association of

America

Reconstruction Finance Corporation Act, suggested language for pro-

posed amendment to..

Page

General Accounting Office comments

Stevens, Lewis M., chief counsel, RFC inquiry, letter of March 16,

1948, to Hon. Harry P. Cain__.

The American Municipal Association, letter of April 15, 1948, to Hon.

Leroy Johnson of California__.