To Strengthen the Capital Structure of the Federal Land Banks: Hearings Before a Subcommittee of the Committee on Banking and Currency, United States Senate, Seventy-second Congress, First Session, on S. 204, S. 280, and S. 1751 Bills to Amend the Federal Farm Loan Act - To Provide Additional Capital for Federal Land Banks. December 23 and 31, 1931 |
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100 per cent additional capital agriculture amendment amount asso BESTOR better bill board of directors borrowers BRENCKMAN capital stock cent bonds Chairman ciation committee Congress creditors crop DECEMBER 23 delinquent dividends DOAK earnings effect extension Farm Bureau farm loan act farm loan associations Farm Loan Board farm loan system farmer Federal Farm Loan Federal land banks Federal land-bank bonds FIELDS figures foreclose foreclosure gentlemen going GOSSETT Government GRAY GRISWOLD HOGAN House indorser installments interest rate investment investor land bank system legislation ment moratorium mortgage loans national farm loan NETHERLAND November 30 operate outstanding paid payments percentage present Prince William County question reserve account rural credits Secretary sell semiannually Senator BARKLEY Senator BLAINE Senator CAREY Senator GOLDSBOROUGH Senator GORE Senator STEIWER Senator WAGNER situation statement subcommittee subscribed subscription taxes thing tion Treasury United WILLIAMS
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Page 2 - Be it enacted by the Senate and Souse of Representatives of the United States of America in Congress assembled, That this Act may be cited as the "Arms Control and Disarmament Act Amendments in 1975".
Page 2 - States, said subscription to be subject to call in whole or in part by the board of directors of said land bank upon thirty days...
Page 1 - Washington, DC The subcommittee met, pursuant to call, at 10 o'clock am, in the committee room, Capitol, Hon.
Page 2 - That every Federal land bank, and every joint stock land bank, shall semi-annually carry to reserve account twenty-five per centum of its net earnings until said reserve account shall show a credit balance equal to twenty per centum of the outstanding capital stock of said land bank.
Page 3 - Stock owned by the Government of the United States in Federal land banks shall receive no dividends, but all other stock shall share in dividend distributions without preference.
Page 3 - After said reserve has reached 100 per centum of the paid-in capital of said bank, 5 per centum of its net earnings shall be added thereto semiannually. Whenever said reserve shall have been impaired below 100 per centum of the paid-in capital it shall be restored before any dividends are paid.
Page 64 - After said reserve has reached the sum of twenty per centum of the outstanding capital stock, five per centum of the net earnings shall be annually added thereto. For the period of two years from the date when any default occurs in the payment of the interest, amortization installments, or principal on any first mortgage, by both mortgagor and indorser, the amount so defaulted shall be carried to a suspense account, and at the end of the twoyear period specified, unless collected, shall be debited...
Page 1 - Shares of stock issued pursuant to this paragraph shall be paid off at par and retired in the same manner as the original capital stock of said bank after said original stock outstanding, if any, has been paid off and retired: Provided, however, That stock issued pursuant to this paragraph may at any time, in the discretion of the directors and with the approval of the Federal Farm Loan Board...
Page 34 - I am going to do my part to get rid of that. (At this point followed informal discussion, which the reporter was directed not to record, at the conclusion of which the following occurred :) Mr.
Page 3 - That the Federal Farm Loan Board is authorized to make such rules and regulations, not inconsistent with law, as it deems necessary for the efficient execution of the provisions of this title.