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192
BOARD OF GOVERNORS
DF' THE
F'EDERAL RESERVE SYSTEM
S-464
WASHINGTON
ADDRESS DP'P'IOIA&. IID••ca•aNPII:NOE
TD TMC eOARO
April 23, 1942
Dear Sir:
Referring to ~~. Cravens' wire of April 20, there is enclosed a
form prepared for use cy financing institutions in applying to the Federal
Reserve Banks as fiscal agents of the United States for guarantees of loans
made for financing war produ,ction, pursuant to Executive Order No. 9112 of
March 26, 1942.
Both the War Department and the Board's War Loans Committee think
it desirable that all Federal Reserve Banks use substantially the same form
for the above purposes, and that the form be as brief as is feasible in the
circumstances. It is believed that the information called for on the attached
form will give the War Department and the Federal Reserve ~~ks as fiscal
agents of the United States the information they need in passing upon applications of financing institutions for guarantees of ioans to re made for war
production purposes. There is no objection to your making minor changes fu
the form, if you think them desirable in order to conform to existing policies of your Bank, but it is requested that no substantial changes through
additions or othe~rise be made in the form. Information supplementary to
that contained in the form can be obtained where deemed necessary, but in
order to avoid del~ and unduly burdening the borrower and the financing institution such additional information should be asked for only in exceptional circumstances. If the submission of all of the information called for in
,item 9 would und~y delay the submission of the application, the part not
readi~· obtainable m~ be omitted.
In case you find it desirable to prepare a form to be used by prime
and subcontractors in applying directly to your Bank for loans to finance war
contracts, it is suggested that the information called for in such forms be
similar to that called for in the attached form with the omission, of course,
of information to be supplied by the financing infrtiitu.tion (items 1, 4, 5, ani 10).
The form has been approved b,y Paul Clevelru1d, Major, A.u.s., of the
War Department.
THE PRESIDENTS
OF ALL
L. P. Bethea,
Assistant Secretary~
..· ;.. -.'-
193
...
1.
Name and looation or financing institution
2.
Name and location of applicant for loan
3. Amount of loan applied for
4·
5.
6.
Percentag~
of loan to be guaranteed
be
(a)
Rate of interest to
(b)
Matl.U'i ty of proposed loan
(c)
Other terms and conditions of loan
Descript~on
charged Borrower
of collateral, if
anr
7.. War products to be supplied b.r applicant for loan
8.
Purposes for which funds will
9.
(a)
be
used
If applicant for loan is a prime Government contractor, give the
following information with respect to eachprime contract:
th~
(1)
Unit of Government with \Vhich
prime contract is held
(2)
Name, title, and address of Government contracting officer
(3)
Contract number
(4) Amount of contract and approximate per cent completed
(5)
(b)
Date of first and last deliver,r
/
If applicant for loan is a subcontractor, give the following information with respect to eacij subcontract:
(i) Name, and address of concern with which applicant for loan
has a subcontract or order for supplying war products
~ame
(3)
Unit of Government for which products are
'{4)
(5)
,/
and address of prime Government contractor for whom
products are being produced
(2)
~ing
provided
Amount o£ applicant's subcqntract or purchase order and
approximate per cent completed
Date of first and last delivery
194
-2-
S-464-a
10. General statement b,y financing institution with respect to the applicant's abili~ to perform the above contracts; the general
character, reputation, a~1d capabiii ty . of the applicant; normal
type and volume of production; and any other information which
the financing insti tutim1 would ordinarily take into account in
considering a loan to the applicant •
. 11. Copy of 8.udi ted balance sheet and operating statement for the last
fiscal period of Borrower and cop-1 of latest available balance
sheet and 'of latest available int~rim operating statement should
accompany application. (If audited reports for the last fiscal
period are not available, furnish balance sheet and statement of
earnings and expenses for that period proporly·certified.)
(Full name of financing institution)
...
~--~--~~----------~--~--(SignaturQ)
(Title)
'
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@FedFRASER