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NC 1 - 41 73D Congress H O U S E OF REPRESENTATIVES 2d Session REPORT { º No. 297 OF THE RECONSTRUCTION FINANCE CORPORATION LETTER F R O M T H E C HA IR MA N A N D SECRETARY OF T H E R E C O N STRUCTION FINANCE CORPORATION TRANSMITTING THE C O R P O R A T I O N ' S R E P O R T C O V E R I N G ITS O P E R A T I O N S F O R T H E F O U R T H Q U A R T E R OF 1933, A N D FOR T H E PERIOD F R O M T H E O RG ANI ZA TIO N OF T H E COR PORATION O N F E B R U A R Y 2, 1932, T O D E C E M B E R 31, 1933, I N C L U S I V E APRIL 3, 1934.—Referred to the Committee on Banking and Currency and ordered to be printed REconstruction FINANCE CoRPoRATION, Washington, April 3, 1934. The SPEAKER of THE House of REPRESENTATIVEs. SIR: Pursuant to the provisionsofsection 15 of the Reconstruction Finance CorporationAct, the corporationhasthehonor tosubmitits report covering its operations for the fourth quarter of 1933, and for the period from the organization of the Corporation on February 2, 1932, to December 31, 1933, inclusive. During the fourth quarter of 1933, the Corporation authorized, under section 5 of the Reconstruction Finance Corporation Act, as amended, 893 loans. These loans, together with increases during the quarter in loans previously authorized, aggregated $533,212,893.12, as follows: $255,310,750.26 to banks and trust companies (including $231,870,689.81 to aid in the reorganization or liquidation of banks that are closed orin process ofliquidation); $4,674,076.19 to build ingand loan associations(including$1,135,000toaidinthereorganiza tion or liquidation of building and loan associations that are closed or in process of liquidation under section 5 of the Reconstruction Finance Corporation Act as amended by the act approved June 14, 1933); $1,191,000 to insurance companies; $118,121,317.68 to mort age loan companies; $4,000 to a credit union; $139,018,000 to ederal land banks; $475,000 to joint-stock land banks; $320,032.54 to agricultural credit corporations; $7,367,300.74 (rediscounts) to regional agricultural credit corporations; $75,000 to a livestock credit corporation; $744,252 to a railroad trustee, under section 5 as amended by section 10 oftheact approved June 10, 1933; $24,447.83 toprocessorsordistributorswho aresubject toprocessingtaxes, under 2 R E P O R T O F TEIE R E C O N S T R U C T I O N FINANCE CORPORATION section 5 as amended by section 19 (c), title I, of the Agricultural Adjustment Act of 1933; and $5,887,715.88 to a State fund created forthepurposeofinsuringtherepaymentofdepositsofpublicmoneys under section 5 as amended by section 13 of the act approved June 10, 1933. During the fourth quarter of 1933 the Corporation, under the Emergency Relief and Construction Act of 1932, as amended, author ized 37 loans aggregating $407,425,355.04, as follows: Under the provisions of section 201 (a), title II, loans aggregating $3,304.04 (representing increases due to accounting adjustments in 3 loans previously authorized); under the provisions | section 201 (d), title II, loans aggregating $407,422,051 to aid in financing the carrying and orderly marketing of agricultural commodities and livestock produced in the United States. During the fourth quarter of 1933 the Corporation, under section 304, title III, of the act approved March 9, 1933, as amended, made 2,298 authorizations, as follows: Loans secured by preferred stock of banks and trust companiesin the amount of$2,142,100; subscriptions for preferred stock of banks and trust companies in the amount of $205,167,600; and purchases of capital notes or debentures of banks and trust companies in the amount of $226,419,400. During the fourth quarter of 1933, under the provisions of section 36,titleII,oftheEmergency Farm Mortgage Actof1933,asamended, which authorizes the Corporation to make loans to or for the benefit of drainage districts, levee districts, levee and drainage districts, irrigation districts, and similar districts, the Corporation authorized 55 loans aggregating $16,870,286.24. During #. fourth quarter of 1933, under the provisions of section 1 of the act June 10, 1933, as amended, which authorizes º the Corporation to make loans on, or tosubscribe for, preferred stock of insurance companies, the Corporation authorized 3 loans aggre gating $4,375,000. Summarizing the above, the Corporation, during thefourth quarter of 1933, made 3,286 authorizations aggregating $1,395,612,634.40. Cancelations or withdrawals during the fourth quarter of 1933 of loans authorized from February 2, 1932, to December 31, 1933, inclusive, aggregated $34,170,977.47. During thefourth quarter of1933 the Corporation under the above acts disbursed $604,657,221.25 and received repayments in the aggre gate amount of $188,508,895.58. The increase in the amount out standing on December 31, 1933, as compared with September 30, 1933, was $416,148,325.67. During the entire period from the organization of the Corporation on February 2, 1932, to December 31, 1933, inclusive, the Corporation authorized, under section 5 of the Reconstruction Finance º tion Act, as amended, 14,942 separate loans to 7,963 institutions, aggregating $3,160,555,966.85, as follows: $1,806,069,171.55 to 6,443 banks and trust companies (including$515,369,485.55 to aid in the reorganization or liquidation of banks that are closed orin process of liquidation); $121,511,512.29 to 1,004 building and loan associations (including $1,135,000 to aid in the reorganization or liquidation of building and loan associations that are closed orin process ofliquida tion); $100,528,867.51 to 128 insurance companies; $328,575,048.05 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION 3 to214 mortgage loan companies; $621,001 to 6 credit unions; $174, 518,000 to 12 Federal land banks; $21,103,172.68 to 24, joint-stock land banks; $9,250,000 to 8 Federal intermediate credit banks; $5,579,485.29 to 19 agricultural credit corporations; $160,777,463.92 (rediscounts) to 12 regional agricultural credit corporations and their branches; $14,264,402.85 to 20 livestock credit corporations; $411, 845,678 to 67 railroads (including $18,946,708 to 8 railroad receivers and $744,252 to the trustee of a railroad); $24,447.83 to 5 processors or distributors who are subject to processing taxes; and $5,887,715.88 to a State fund created for thepurpose of insuring the repayment of deposits of public moneys. nder the Emergency Relief and Construction Act of 1932, as amended, the Corporation from July 21, 1932, when the act was approved, to December 31, 1933, inclusive, made 720 authorizations to296 institutions in the aggregate amount of $1,049,552,040.38, as follows: Under the provisions of section 1, title I, $300,000,000 was made available to 42 States and 2 Territories for purposes of relief and work relief; under the provisions of section 201 (a), title II, as $230,764,364.28 were amended, loans or contracts "...; authorized to 182 institutions for self-liquidatingprojects (including $10,450,000 to 6 institutions for financing the repair or reconstruction of buildings damaged by earthquake, fire, tornado, or cyclone in 1933); under the provisions of section 201 (c), title II, loans aggre gating$52,880,542.80 were authorized to 3 institutionsfor the purpose of financing sales in foreign markets of agricultural surpluses; and under the provisions of section 201 (d), title II, loans aggregating $465,907,133.30 were authorized to 67 institutions to aid in financi the carrying and orderly marketing of agricultural commodities an livestock produced in the United States (including authorizations of $400,000,000 to the Commodity Credit Corporation). Under theactapproved March 9,1933, asamended, theCorporation from March 9 to December 31, 1933, inclusive,made 2,440 authoriza tionsto2,434 institutions and individuals, involving 2,345 banks and trustcompanies,asfollows: Loans inthe amount of$17,218,600to 127 institutionsand individuals,secured by preferredstockof38 banks and trust companies; subscriptions for preferred stock of 1,031 banks and trust companies in the amount of $259,463,100; and purchases of capital notes or debentures of 1,276 banks and trust companies in the amount of $227,119,400. Under the Agricultural Adjustment Act of 1933,the Corporation from May 12 to December 31, 1933, inclusive, authorized a loan of $3,500,000 to the Secretary of Agriculture to acquire cotton. Under the actapproved June 10, 1933, as amended, the Corpora tion from June 10 to December 31, 1933, inclusive, authorized 3 loansin the amount of$4,375,000secured by preferred stock ofinsur ance companies. Under the Emergency Farm Mortgage Act of1933, as amended, the Corporation from May 12, 1933, when the act was approved, to December 31, 1933, inclusive, authorized 55 loans in the amount of $16,870,286.24 to or for the benefit of drainage, levee, and irrigation districts. - Summarizing the foregoing the Corporation, during the entire period from " ß 2, 1932, to December 31, 1933, inclusive, 4 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION made 18,161 authorizations aggregating $4,738,654,393.47. Of the total amount authorized, $323,478,629.04 was later withdrawn or canceled. At the closeofDecember 31, 1933, theCorporationunder the above acts had disbursed $3,301,155,008.17, and repayments amounted to $1,042,636,854.80,leaving$2,258,518,153.37 outstandingon the books of the corporation. In addition, the Corporation had outstanding on December 31, 1933, agreements to make loans, subscribe for preferred stock, and purchase capital notes or debentures, totaling $513,257,885.43, upon the performance of specified conditions. During the fourth quarter of 1933 the Corporation paid $40,500,000 to the Governor of the Farm Credit Administration pursuant to the provisionsofsection5 (a) oftheFarm CreditAct of 1933. This com pleted thepayment oftheentire$200,000,000 allocatedby section2 of the Reconstruction Finance Corporation Act,in accordance with the provisions of that act, and section 201 (e) of the Emergency Relief and Construction Act of 1932, theactapproved February4,1933, and section 5 (a) of the Farm Credit Act of 1933. Under section 84 of the Farm Credit Act of 1933, with the approval of the Governor of the Farm Credit Administration, the Corporation in November authorized the reduction of the capital of four regional agricultural credit corporations,asfollows: The RegionalAgricultural * . Corporation of Raleigh, N.C., from $1,200,000 to $925,000; of Columbus, Ohio, from $650,000 to $500,000; of Jackson, Miss., from $1,100,000 to $925,000; and of St. Louis, Mo., from $1,200,000 to $800,000. During November the Corporation, with the approval of the Governor of the Farm Credit Administration, authorized an increase in the capital of one regional agricultural credit corporation, as follows: The Regional Agricultural Credit Corporation of Minne apolis, Minn., from $7,500,000 to $8,500,000. In accordance with the provisions of section 2 of the Reconstruc tion Finance Corporation Act, as amended by section 6 (f) of the Federal Home Loan Bank Act, and pursuant to the request of the Secretary of theTreasury, theCorporation, during thefourth quarter of 1933, paid $18,375,700 to the Secretary of the Treasury for the purposeof making payments upon stock of Federal home-loan banks subscribed for by him. This made a total of $75,745,700 paid to the Secretary ofthe Treasury for thispurpose to the close of December 31, 1933. Under section 4 (b) of the Home Owners' Loan Act of 1933 the Corporation during the fourth quarter paid $17,000,000 to the Secre tary of theTreasury for thepurpose ofmakingpayments upon stock d.º.º. . . " . of the H o m e Owners' Loan by him. This made a total of $19,000,000 paid to the Secretary of the Treasury for this purpose through December 31, 1933. Under section 2 (a) and section 6 of the Federal Emergency Relief Act of 1933, upon certification of the Federal Emergency Relief Administrator, the Corporation during the fourth quarter made payments to States aggregating $150,240,756.90, making a total of $314,960,940.87 so paid through December 31, 1933. RE POR T OF T H E RECONSTRUC TION FI NAN CE CORPORATION 5 Under section 30 (a) and section 32 of the Emergency Farm Mort gage Act of 1933 the Corporation during the fourth quarter paid $72,000,000 to the Land Bank Commissioner, ofwhich $2,000,000was for the purpose of making loans to joint-stock land banks under section 30 (a) and $70,000,000 was for the purpose of making direct loans to farmers under section 32. As of December 31, 1933, a total of$82,600,000 had been paid by the Corporation to the Land Bank Commissioner under this act, of which $2,600,000 was for making loans tojoint-stockland banks and $80,000,000 was formaking direct loans to farmers. During the fourth quarter of 1933, $45,000,000 of the series C 3% percent notes, authorized by the boardofdirectorson April29,1933, in the aggregate principal amount of $2,000,000,000 were sold to the making a total of $1,765,000,000, of such Secretary of the issuesosold. The authorizationfortheremaining$235,000,000ofsuch H . notes which had not been sold was canceled. On November 1, 1933, the Corporation authorized the issuance of 3%-percent demand notes in the aggregate principal amount of$500, 000,000, designated as series C–2, of which $460,000,000 was sold to the Secretary of the Treasury. The authorization for the remaining $40,000,000 ofsuch notes which had not been issued was canceled. On December 20, 1933, the corporation authorized the issuance of $2,800,000,000 series D notes, maturing November 1, 1934. The series D notes are dividedinto four subseries. They were authorized for the purpose of retiring the outstanding $1,765,000,000 of series C and $460,000,000 of seriesC–2 notes, or a total of $2,225,000,000, and for additional amounts to be borrowed by the Corporation. As of December 31, 1933, series D notes had been issued as follows: Series D-1 one eighth of 1 percent notes, in the amount of $475, 000,000, in exchange for an equal principal amount of series C notes. Series D–2 2-percent notes, in the amount of $1,290,000,000, in exchange for an equal principal amount of series C notes. Series D–3 one eighth of 1 percent notes, in the amount of $230, 000,000, of which $195,000,000was in exchange for an equal principal amount of series C–2 notes and $35,000,000 was for additional bor rowing. Series D–4 3-percent notes,in the amount of$355,000,000, ofwhich $265,000,000 was in exchange for an equal principal amount ofseries C–2 notes and $90,000,000 was for additional borrowing. On December 14, 1933, the Corporation authorized theissuance of notes in the aggregate principal amount of $250,000,000, designated as series E, dated December 15, 1933, maturing December 15, 1935, and bearinginterest at therate of2% percent perannum, to be sold to banks from which the Corporation has purchased preferred stock, capital notes, or debentures. At the close of December 31, 1933, there were outstanding $101,299,666.67 of the series E notes, . In October and December 1933 the Corporation authorized the issuance of notes in the aggregate principal amount of $100,000,000, designated as“Seriesof February 1,1934.” At thecloseofDecember 31, 1933, there were outstanding $78,726,187.37 of the “Series of February 1, 1934” notes. The Corporation received gold for these notes. 6 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION As of December 31, 1933, there were outstanding $2,530,025,854.04 of the Corporation's notes as follows: Series Series Series Series D-1-------------------------------------------- $475,000, 000.00 D-2-------------------------------------------- 1,290,000, 000.00 D-3-------------------------------------------230,000, 000.00 P-4-------------------------------------------355,000, 000.00 Series Feb. 1, 1934------------------------------------Series P----------------------------------------------- 78, 726, 187. 37 101, 299, 666.67 Total------------------------------------------- 2, 530,025, 854.04 The following tables are attached hereto: Table 1. Aggregate authorizations, disbursements, repayments, and amounts outstanding, by classes, during the fourth quarter of 1933, and from February 2, 1932, to December 31, 1933, inclusive. Table 2. Number of new borrowers to which authorizations were made, by States, during the fourth quarter of 1933. Table 3. Number of authorizations, by States, during the fourth quarter of 1933. Table 4. Number of borrowers to which authorizations were made, by States, February 2, 1932, to December 31, 1933, inclusive. Table 5. Number of authorizations, by States, February 2, 1932, to December 31, 1933, inclusive. Table 6. Amount of authorizations, disbursements, repayments, and amounts outstanding from February 2, 1932, to December 31, 1933, inclusive, by months and classes. Table 7. N u m b e r of borrowers and amounts of loans authorized under section 5 of the Reconstruction Finance Corporation Act, as amended, February 2, 1932, to December 31, 1933, inclusive, by size of cities or towns. Table 8. Names and compensation of directors, officers, and employees of the Reconstruction Finance Corporation receivingfrom the Corporation more than $400 per month, as of December 31, 1933. Table 9. Statement of cash receipts and expenditures during the fourth quarter. (Corporation's accounts with Treasurer of United States.) Table 10. Statement of cash receipts and expenditures, January 1 to December 31, 1933, inclusive. (Corporation's accounts with Treasurer of United States.) Table 11. Statement of cash receipts and expenditures, February 2, 1932, to December 31, 1933, inclusive. (Corporation's accounts with Treasurer of United States.) Table 12. Statement of condition of the Corporation as of the close of business December 31, 1933, Respectfully, JEsse H. Jon Es, Chairman. GEORGE R. 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A | * L B G M t e g * o . i a c r r d i n a r e . v o b t c k n * u r . e s r d a l | * l b º, d as eposits ||. º: R e gii odn-al B u l 1 6 3 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - ---------- Ha m 18 p sh ire N e w 32 --" ------ -------- N M 21 e x i c o . e --w -N J e r s e y e--w --- c e a e 6 9 8 - º - - - - - o u q p u a S e ^ ^ . - - e q u º i a q s a w a 1 g . 1 1 9 I ‘ 8 I r o o ; e o s • ø q e n j o p u ò q e s a o u REPORT of THE RECONSTRUCTION FINANCE corpoBATION s 8 1 0 a 8 6 6 ¢ e 1 8 - - - - - - - - - - q e u a r i A - 6 9 0 i9 £ 9 l 1 9 0 0 £ . 8 6 1 8 9 a 0 8 6 8 1 Z y e º8 -8 ~~ ~~ø øs sø u u e , 19 20 p o n u \ u 0 0 – 9 a s n t o u ‘ 9 8 6 I ' I g r o º q o q º g g 6 I º g ' q º , a e ‘ s º y o n s f i q ‘ s u o n o z y l o w y n o o u ø q u u n n – º g a t a v L r º u m º i u u e a k o u a º ‘ º : 6 1 j o q o w 1 : : p º p u ø u r e u o s u p o r t º º º a a t ‘ e f f e p º r u º j º u d u u p u e j o x o o q s u o p e º ø o u e n s u s n o p i n s i p s ø t r e u u o o p º º | # | s # ø | # | t # | r u p e r q : p º "§ 6 º: r e j | o¡ s¿ a u n q u| a q | P J p u ø u r e s e 9 n op e ‘º t e n o u: , t e n i£ d e® o j] o u o u º p io n u o t u n e u j o | º u p o u a e u e i n b i l j i º s i o u º { 'r | # j | # ' s# . ; # # ‘ # # s . # … h # | | o … |! ! ' |tº ( # ?! ! # o ? # ! u ,! # # d ! } { e | |s | º ± ø |J 3 n } ä} ±p i } ;I t # d ia oa | e x s u u eo e # o | o o ºn º # s s s n |º | | u ¡ ø | q o §; ¿ # n s §§ | b u t s g §i # s |r " o º º t i || | | e } : e K }} } # d } } } | o } } y p n u } # {| }}}} { º o a } º }% } # j u }2 | }| p , a || | u t p! + u a ', æ a ; t j m eói f ø s º s e q o n n a | - ø º g º n u o w REPORT OF T H E ø q a r ø p u n ø q q u º p u n p º p u ø t u e s e p º p u ø u r e s e º c c o t ‘ 6 º r g l w p e a o u d d e n o e ø q q u o p u n " z º b i j o n o w u o m o n u m s u o l o p u u j º l ø s h K o u a º u º u r º e q n u º p u n º n e n s RECONSTRUCTION FINANCE Å º s i º r w º n CORPORATION e u q s d u n e n a w a n :1. } | L 1; K 6; C f as 1 in c or t e by a o y u l 9 i r t i n c f l h s 3 r o q i a r u o a w 3 d e n s i k o a , e : , C to l 1 a A of g u h t r o i h n c o u r n a l i t a d z u n e r . d S t to i d f by n do l 1 a T * u e n i t c o h g a r o l u e r i a t u t i l e z d a e n s r d b d of r or f t l 13 * e u i I c a e o i nl o a h p c s m d t n l r a i u c n r e i d t g i n e s o r g n r i o m of l to Ae * c n f o c f a e o l i ar v u c i t d e ir e s n os ; n g . 1. T M 1; a 4; e a nn i es nd ee , § 22 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts outstandingfrom Feb. 2, 1982, to Dec. 31, 1933, inclusive,by months and classes G R A N D TOTAL M ont h A m o unt authorized 1 A t m o u n disbursed A. Amount repaid out standing; increase for the period $91,601,057.00 142,333,075.06 228,771,667.33 199,450,025.39 388,254,246.63 170,934,728.59 189,068, 106.31 138,480,782.93 162,373,944.36 96, 598,980.32 128,510,058.65 $70,868,417. 52 121,477,890.49 155,543,323.23 158,983, 559. 12 298,276,816.59 171, 149,931.86 146,180,913.71 72,120,713.91 137,623,749.68 61,020, 558.96 131, 501,263.75 $18,845, 00 8,873,883.30 7,009,080. 50 16,440,727. 23 48,684,900. 92 34,615,181.07 35,232,968. 30 44,903, 158.06 47,565,316.28 27,180,977.04 29,423,415.68 $70,849,572. 52 112,604,007. 19 148, 534,242.73 142,542,831.89 249,591,915.67 136,534,750.79 110,947,945.41 27,217. 555.85 90,058,433.40 33,839, 581.92 102,077,848.07 Total.-------------------- 1,936,376,672.57 1,524,747,138.82 299,948,453.38 1,224,798,685. 44 142,844,447.43 283, 171,473.85 *217,732,207.45 117,995,293.92 199,499,330.83 179,533, 134.72 32,452,828.29 35,971,703. 16 55,813,566.83 85,542,465. 163,527,627.67 123,719,567. 89 *643,748, 128.73 497,027,759.47 124,238,098.28 372,789, 661.19 162, 529, 133. 14 142,081,250.47 * 154,047,964. 57 117,500,398.87 195,805,854.81 123,677, 183.75 a40,213,996.05 *46,800,269.06 194,656,103.57 *77,286,402.82 *149,005, 585.75 *20,021,080.18 Total, second quarter----| *458,658, 348.18 436,983,437.43 181,670,368.68 1255,313,068.75 115,339,396.98 || 1 113,000, 506.08 83, 128,537.43 273,535,265. 19 39,271, 516.79 *61,735,267.61 *2,338,890.90 *9,593,272.24 ** 22,463,750.82 1304, 258,609.59 237,739,451.20 1248,271,038.88 ** 10,531, 587.68 521,581,325.41 382,354,706. 32 491,676,602.67 48,646,412.75 186,473,215.08 369,537, 593.42 69,714,442.19 1,203,400. 54 67,591,052.85 *21,068,029.44 135,269,814.54 301,946, 540. 57 604,657,221.25 188,508,895.58 416, 148,325.67 3,301,155,008. 17 | 1,042,636,854.80 2,258,518, 153.37 July---------------------------- 201,024,785.36 Total, third quarter------ Total, fourth quarter----- 1,395,612,634.40 Grand total.-------------- 4,738,654, 393.47 T O T A L , SEC. 5, R E C O N S T R U C T I O N FINANCE CORPORATION AC T, A 8 A M E N D E D $91,601,057.00 142,333,075.06 228,771,667.33 199,450,025.39 388,254,246.63 728.59 167, 125,136,437.31 65,352,280.71 59,371, 561.73 73,659,796.72 81,467,467.97 $70,868,417. 52 121,477,890.49 155,543,323. 23 158,983,559. 12 298,276,816.59 171, 149,931.86 142,233,029,71 61,909,014. 16 120,353,360.16 39,367, 417.87 87,440,361.93 $18,845.00 8,873,883.30 7,009,080.50 16,440,727.23 48,684,900. 92 34,615, 181.07 35,232,968.30 44,903,158.06 47,563,281.73 27,177,436.04 29,313,534.28 $70,849,572.52 112,604,007. 19 148,534,242.73 142,542,831.89 249,591,915.67 ,534,750.79 107,000,061.41 7,005,856-10 72,790,078.43 12, 189,981.83 58,126,827.65 1,623,332,344.44 1,427,603, 122.64 299,832,996.43 1, 127,770, 126.21 January-----------------------84, 182,129.23 February209,735,830.65 March------------------------- * 155,329,303.10 75, 183,421.58 159,688, 523.62 122,840,052, 22 32,308,547.15 35,910,943.56 55,687,000.79 42,874,874.43 123,777, 580.06 67, 153,051.43 Total, first quarter------- Total, second quarter---- 1449, 247,262.98 357,711,997.42 123,906, 491.50 233,805, 505.92 100,727,623.93 111,284,726.83 120,001,798.76 62,758,894, 98 135,626,841.22 99, 193,850, 52 *40, 103,725.68 *46,258,711.69 *94,303,564.66 *22,655, 169.30 *89,368, 129.53 *4,890,285, 86 332,014, 149.52 297,579,586.72 | * 180,666,002.03 1These figures have been adjusted on account of rescissions. *Revised. ” *116,913,584.69 * Decrease. REPORT OF T H E RECON STRUCTI ON FI NAN CE CORPORATION 23 TABLE 6–Amount of authorizations, disbursements, repayments, and qmount: outstanding from Feb. 2, 1932, to Dec. 31, 1933, inclusive, by months and classes—Continued TOTAL, SEC. 5, R E C O N S T R U C T I O N F º C O R P O R A T I O N ACT, AS A M E N D E D on t in A mou nt out Am ou nt disbursed Amount Mon th authorized 1 standing; Amountrepaid incºF'the period - 1933 - ºnly---------------------------August------------------------September--------------------- $133,113, 288. 14 i 51, 202,085.60 *38,433,943.05 Total, third quarter------ * 222,749,316.79 Total, fourth quarter----| 533,212,893. 12 Grand total.-------------- 3,160,555,966.85 $95,865,674.09 ||1$112,822,773.08 || 1-$16,927,098.99% 69,438,406. 13 a72,799, 582. 12 a3 3,361,175.99. 25,086,394.18 a61,117,395.81 || 1336,031,001.63. 190,420,474.40 246,739,751.01 || 1356,319,276.61. 37, 194,685.39 105,441, 763.45 168,594,158.96 69,533,716.68 50,016.760. 27 63,740,311.00 a32,339,031.29. 55,425,003. 18 104,853,847. 96. 311,230,607.80 183,290,787.95 127,939,819.85 2,584,545,788.98 || 1,034,436,028.92 1,550, 109,760.06 BANKS A N D T R U S T C O M P A N I E S (INCLUDING RECEIVERS, LIQUIDATING A G E N T S A N D CONSERVATORS) $44,625,300.00 108,751, 135.06 152, 103,931.93 113,117,970.34 560. 219, 97,265,633.42 87,776,078. 12 29,951,680.23 *21,802, 702.58 23,249,644.02 *51,006,363.83 $39, 546, 160.52 85,870,980.49 112, 153,001.36 108,192,844.29 151,624,949.99 104,166,283.74 77,635,909.68 27,401, 650.02 80, 746,257.61 *20,420,708.99 43, 102,313.33 $18,845.00 7,651,531.30 6,889, 778.45 12,585,480.24 45,346,776.63 28, 200,745. 53 31,301, 194.49 40,413, 591.02 40,317,817.54 466,223.72 21,057,389. 14 $39,527, 315.52 78,219,449. 19. 105,263,222.91 95,607,364.05 106,278,173.36 75,965, 538.21 46,334,715. 19. 3 13,011,941.00 40,428,440. 07 ** 2,045, 514.73 22,044,924. 19. *949,437,000.09 | *850,861,060.02 256,249,373.06 *594,611,686.96. 26,006, 824.40 20,684,801.71 40,733,012. 09 *17,118,466.00 57,427,609.99. 22, 167,643.84 56, 133,284.40 132,422,465.58 98, 543,748.61 143,125, 290.40 78, 112,411.70 62,900, 655.93 287,099,498.59 || 2 184, 138,358.03 87,424,638. 20 *96,713,719.83 63,489,853.51 55,456,202.42 38,949,096.07 23,914,051.40 87,947, 700.34 12,034,738.64 *28,431,486.93 *37,888,376.40 *75,139,444.48 *34, 517,435.53 *50,059,323.94 a363, 104,705.84 157,895, 152.00 123,896,490.38 * 141,459,307.81 2*17,562,817.43 100,595,536.74 -|, i.34,061, 223.34 *21,670,010.53 66,053,436.74 52,493, 748.50 15,610,326.79 *156,326,770.61 103,288,877. 42 40,814,654. 16 111,207,218.68 Total, fourth quarter----- 267,871, 161.50 1:1,817,724.76 *35,299,027.18 * 17,194,721.32 *27,516,435.28 | ** 11,906, 108.49 134, 157, 512.03 || |130,686,623.96 15,030,459.24 50.296,831. 40 71, 174,894.58 30, 764,403.70 25,417,273.70 46, 129,383.50 13,470. 888. 07 * 15,733,944.46 24,879,557.70. 25,045,511.08 255,310,750.26 136,502,185.22 102,311,060.90 34, 191,124.32 Grand total.-------------- 1,806,069,171.55 1,429,555,605.68 718, 131,003.93 711,424,601.75 L O A N ASSOCIATIONS (INCLUDING RECEIVERS) $4,879,750.00 $2,430, 500.00 10, 170,186.68 19,624,016.39 9,823,631.19 16,577,471. 48 *Thesefigureshave been adjusted on account ofrescissions. *Revised. *Decrease. $2,430, 500.00 10, 111,544.62 19,214, 137.52 9,287,790. 54 15,371,997.38 24 REPORT OF T H E REC ONST RUCTI ON F IN AN CE CORPORATION TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts outstanding from Feb. 2, 1932, to Dec. 31, 1933, inclusive, by months and classes—Continued BU ILDI NG A N D L O A N ASSOCIATIONS (INCLUDING RECEIVERS)—Continued Amount out M o nt h Amount authorized 1 Amount disbursed Amount repaid - i nstanding; c º ; the period $12,543,600, 00 7,295, 705.00 3,750,500.00 3,391,532.00 4,985,274.32 $12,180,063. 17 9,435, 115.28 5,080,954.91 3,830.807.59 4,710,367.98 $1,561,404.87 1,253,188.31 1,376,330.52 1,618,781.05 1,596,899.64 $10,618, 658.30 8, 181,926.97 3,704, 624.39 2,212 026. 54 3,113,468.34 99, 696,044. 75 93,863, 114.67 9,616,440. 07 84, 246,674.60 4,294,724.89 2,849, 559.28 3,219, 307. 24 3,412,672.47 4,093,224.60 1,697,279.66 2,288, 507.52 2,080,445.27 2,606, 799.34 1,124,164.95 2,012,779.33 10,363, 591.41 9,203,176.73 6,975, 752. 13 2,227,424.60 1,691,000.00 1,841,231.87 1,804,847. 24 2,375,255.24 1,888,968.45 1,741,824.86 º,017,879.50 5,337.079.11 6 006. 048. 55 10.589,895.97 * 1,642,624. 26 * 1,246,224. a 1,694,998. 18 *4,583.847.42 266,781. 25 892,449.04 281,490.54 724, 147.01 1,114,230.35 2,476, C46.91 3, 197,886.04 s 1,751,899. 90 a2,083, 655.69 321. 417.65 * 3, 133, 402.11 * 32.811. 984.46 1.440, 720.83 2, 159,795. Cl *8.807, 335.06 2 * 6.647. 540. C5 2,096,059.51 443,016.68 2, 135,000.00 531,340. 92 272,414.58 33, 824,631.41 *3,251, 546.31 * 1,929, 113.92 39,005,291. 64 3,135, 193.43 3,436,823.04 * 909, 519.68 Total, fourth quarter----- 4.674,076. 19 1,81s. 419.79 4,355,972. 33 3,523,960.89 2,943,778.21 10,823, 711.43 Grand total.-------------- 12:1,511, 512. 29 113,050, 554. 75 46,813, 134.66 66,237,420.09 1,014, 664. 29 INSURANCE COMPANIES Total--------------------- Total, first quarter------- Total, third quarter------ $7,080,000.00 9,722,000.00 7,543,000.00 39, 120,500.00 3,833,500.00 4,523,700.00 3,370, 500.00 1,209,000.00 2,151,000.00 4,495,731.66 83,048,931.66 $6,635,920.00 4, 141,250.00 8,514,225.00 26,719,243.83 4,069,749.49 4,661,210.41 4,691,720.37 1,625,444.01 1,665,828.78 5,313,027.03 68,037, 618.92 $74,400.00 17,991.37 378,115.24 ,965. 64 409, 111.04 296,009.69 924,791.50 964, 884.50 695,473.62 1,727,995.92 5,588,738, 52 $6,561,520.00 4,123,258.63 8,136, 109.76 26,619,278.19 3,660,638.45 4,365,200.72 3,766,928.87 660,559.51 970,355. 16 3,585,031. 11 62,448,880.40 1,214,500.00 1,236,500.00 7,328, 131.07 976, 151.99 407,252.19 9,514,589.21 522,669.22 249, 134.17 315,230.93 453,482.77 158, 118.02 9, 199,358. 28 9,779, 131.07 1,624,000.00 ,286,322.94 2,074,381.84 4,984,704,78 10,897,993.39 1,678,000.00 2,256, 149.25 947,098.39 4,881,247.64 1,087,034.32 1,453,255.23 960,955.02 4,627,689.07 7,041, 899. 32 9,810, 959.07 224,744.7 1,295,194.23 *3,680, 590.68 *2,160, 651.68 330, 100.00 ,000.00 545,000.00 964,476.50 1,238,304.75 535,000.00 3,040,046.40 1,019,754.86 * 1,032,068.17 a2,075,569.90 218,549.89 * -497,068.17 1,525,100.00 2,737,781.25 382,000.00 355,888.94 389,503.38 * 5,091, 869.43 702,310. 55 2,858,270.26 4,382,344.46 **2,354,088.18 *320,310. 55 *2,502,381.32 *3,992,841.08 1,127,392.32 7.942, 925.27 26,752,466.86 *6,815, 532.95 60,929, 566.66 300,000.00 541,000.00 350,000.00 Total, fourth quarter----1,191,000.00 Grand total.-------------- T100,525,357.51 37,652,033, 52T 1These figures have been adjusted on account ofrescissions *Revised. * Decrease 25 REPORT OF T H E REC ONS TRUC TIO N FIN ANC E CORPORATION TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts outstanding from Feb. 2, 1932, to Dec. 31, 1933, inclusive, by months and classes–Continued M O R T G A G E LOAN COMPANIES Mo nt h A mount authorized 1 Amountrepaid iAnStanding; cºº ;kthe A mount disbursed period $6,517,000.00 7,360,000.00 2,968,000.00 56,825,000.00 7,119,000.00 1,092,000.00 960,000.00 *4,415,000.00 3,805,800.00 22,832, 602.61 *93,894, 402.61 October------------------------ $1,277,000.00 !-----------------7.857,925.08 $38,159.93 5,177,732.43 209,644.67 52,324,954. 74 353,976.95 7,782,289.38 1,550,425.82 3,184,891.92 1,426,741.85 2,951, 205.21 1,470, 665.63 3,222,581. 36 2,018, 482. 23 12,023,729.34 1,317,632.34 2,620,710.93 2,936,546.08 -88,423,020.39 11,322,275.50 3,262,000.00 31,658,133.96 4,808,300.00 14, 127,585.40 32,031,442.60 4,308, 125.25 39,728,433.96 240,467, 153.25 1,344,450, 00 5,417,458.00 49,405, 143.93 727,724.48 46, 197, 567.68 56, 167,051.93 8,319,811.03 5,776, 400.00 6,567,630.84 20,663,841.87 90,716,370.00 14,024, 238.62 13,380, 709.06 $1,277,000.00 7,819,765.15 4,968,0.87.76 51,970,977.79 6,231,863.56 1,758, 150.07 1,480, 539.58 1,204,099.13 *706,097.00 *315,835.15 277, 100,744.89 1,703,231.44 1,683, 530.66 767.237.17 4,153,999.27 *2,424,353.96 30,347,911. 3,540,888.08 *36,313, 153.98 *3,052,558.78 47,445,303.08 3,572,569, 70 770,726.77 946,493.45 5,289,789.92 1,432,403.59 7,057,961. 93 1,262,939.08 9,753,305.50 1,846,684.17 3,795,422.98 *2,307, 788.41 *7,949,895.56 3414, 280.58 3,262,538.95 *,* 1,044,848. 43 *1,803,409.94 4, 155,303.46 5,160,440.27 19,060, 168.51 4,832,363.75 1,620, 207, 40 1,450,828, 26 *677,060.29 3,540, 232.87 17,609,340.25 520, 010. 92 443,002. 29 45,251,074.23 42, 155,513. 16 Total, fourth quarter----- 118, 121,317.68 28,375,912.24 7,903,399. 41 20,472,512.83 Grand total.-------------- 328,575,048.05 214,464,694.46 36,619,359.66 177,845,334.80 CREDIT UNIONS - - - - - - - - - - - - - - - - - - 25,897.00 275.00 5,350.00 * 1,235.00 * 650.00 a 1,150.00 65,506.00 1,235.00 650.00 1,150.00 1,240.00 January-----------------------February-March------------------ 895.00 3895.00 8,838.00 431, 260.00 305.00 1,875.00 2,140.00 Total. fourth quarter----- 4.000.00 Grand total.-------------- T E I U O I U 0 7 - 4,000.00 sts,ssp.41 *These figures have been adjusted on account of rescissions. H. Doc. 297. 7 3 – 2 — 4 9,250.00 31,875.00 * 2, 140.00 4.320 00 5, 235.00 1,095.00 1,150.00 3 1,095.00 * 1,150.00 545.00 114,950. 70 2,790.00 112.705. 70 1,214.80 * 1,214.80 3841.83 841.83 ? 941. 40 - $338,437.00 $3,393.00 18,797.31 a 2.998.03 * 6.740.68 18, 594. 53 11, 179.99 * 18,594.53 * 11, 179.99 17,668.65 * 13. 668.65 47. 443. 17 a 43.443.17 66,389.20 * Revised. 512,498.21 * Decrease. 26 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts outstanding from Feb. 2, 1932, to Dec. 31, 1933, inclusive, by months and classes—Continued FEDERAL LAND BANKS Month h A m o u n t authorized 1 Amount d disbursed Amountrepaid i*ns c*º Ing; ;*the period $9,000,000.00 2,450,000.00". 2,850,000.00 1,500,000.00 2,700,000.00 – November-December-- Total, fourth quarter----- 139,018,000.00 113,318,000.00 |------------------ 113,318,000.00 Grand total.-------------- 174,518,000.00 142, 118,000.00 ------------------ 142,118,000.00 JOINT-STOCK L A N D B A N K S - - - - - - $724,377.iiI.I.I.I.I.I.I.I.I.I.T 3724,377.II 5,000.00 134,339.47 286,592.54 128,382.45 16,617. 55 168,102.43 447,215.54 616,718.53 $21,031.06 2,989.50 5,843.00 1,578.42 11,416.90 11,385.04 7,781.50 * 16,031.06 131,349.97 286,073. 64 122,539.45 15,039.13 156,685.53 435,830.50 608,937.03 2,527,845.62 62,544.32 2,465,301.30 153,352.93 2,216,010.83 425,764.41 2,795, 128.17 6,942.54 3,091.95 7,149.82 17, 184.31 146,410.39 2,212,918,88 418,614.59 2,777,943.86 2,270,850.00 ,000.00 3,130,000.00 6,300,850.00 1,539,453.87 824,170.65 2,621,624.52 32,041.07 39,710.48 44,078.94 115,830.49 1,507,412.80 784,460. 17 213,921.06 2,505,794.03 124,500.00 852,097.99 1,300,383.90 703, 170.07 2,855,651.96 46,454.79 62,065.08 *79,536.90 1188,056.77 805,643.20 1,238,318.82 #623,633. 17 *2,667, 595. 19 1,705,290.08 1,617,964.83 824,614.58 46,200.63 142,172.67 235,092.30 1,659,089.45 1,475,792. 16 589,522.28 4,995,822.68 - - - - - - - - - - - - - - - - - - 2,910,000.00 3,034,500.00 - 518.90 Total, fourth quarter----- 475,000.00 4, 147,869.49 423,465.60 3,724,403.89 Grand total.-------------- 21,103,172.68 14,948, 119.76 807,081.49 14,141,038.27 1 These figures have been adjusted on account of rescissions. *Revised. * Decrease, REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION 27 TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts by months outstanding from Feb. 2, 1932, to Dec. 31, 1933, inclusive, and classes—Continued FEDERAL INTERMEDIATE CREDIT BANKS Am oun t out Amount author- || A mou nt disized 1 bursed M on t h Amount repaid i nStanding: c . ; the period 1933 March------------------------- $9,250,000.00 $9,250,000.00 $9,250,000.00 ------------------ Total, first quarter------- 9,250,000.00 9,250,000.00 9,250,000.00 ------------------ Grand total.-------------- 9,250,000.00 9,250,000.00 9,250,000.00 ------------------ A GR IC UL TU RA L CREDIT CORPORATIONS $21,200.00 - - - - - - 84,802.05 216,438.07 444,783.85 594,021.62 702, 129.04 1,194,785.15 ,809. 15 225,882.05 18,650.00 246, 515.87 400,621.07 534, 151.82 539,074.94 1,206,884. 22 276,909.98 212,619.43 $600.00 2,186.90 2,647.41 7,613.68 74,450.98 356,814.61 352,082.06 285,914.76 $1,000.00 20,200.00 18,050.00 244,328.97 397,973.66 526, 538. 14 464,623.96 850,069.61 *75, 172.08 *73,295.33 3,619,850.98 3,456,627.33 1,082,310.40 2,374,316.93 101,252.10 240,000.00 442,904.36 155,952. 10 2,647.85 244,722.72 207,830. 11 167, 148.22 175,351.39 * 51,878.01 *164,500.37 69,371.33 784, 156.46 403,322.67 550,329.72 *147,007.05 20,825.00 163,077.91 201,022.01 131,280. 12 193,526.26 139, 539.54 226,251.38 201,001.35 142,751.44 *94,971. 26 37,475.09 *3,211.90 384,924.92 464,345.92 570,004. 17 3105,658.25 197,866.93 76,730.88 195,922.58 279,255.80 153,124. 13 175, 878.58 254, 111.58 155,384.25 * 113,609.94 25,144.22 * 2,260. 12 *62,268.64 470,520.39 608,258.51 *523, 105.77 *85,152.74 166,418.12 41,805.22 111,809.20 185, 181.62 8, 194.00 59,708.52 288,005.60 177,306.41 303,275.79 * 102,823.98 * 169, 112.41 *243,567.27 - - - - - - - - - - - - - $1,000.00 -----------------200. - - - - - - - - - - - - - - - - - - Total, fourth quarter----- 320,032.54 253,084. 14 768,587.80 *515, 503.66 G r a n d total.-------------- 5,579,485.29 5,185,638.57 3,494,337.86 1,691,300.71 RE GIO NA L AG RI CU LT UR AL CREDIT CORPORATIONS 1932 December, total.--------------- $7,285,972.50 $5,372,062.60 $655.03 $5,371,407. 57 January----------------------FebruaryMarch------------------------- 15,360, 112.84 15,269,909.65 18,266,632.88 19,706,023.74 104,646.84 1,798,634.47 1,330,314.09 15, 165,262.81 16,467,998.41 18,375,709.65 Total, first quarter------- 57,811,623.81 53,242, 566.27 3,233, 595.40 50,008,970.87 18,119,962.42 22,855,433.69 17,321,307.67 19,214,707. 12 23,262,884.81 17,813,925.71 2,009,169.89 2,652,548.71 4,473,930.65 17,205,537.23 20,610,336. 10 13,339,995.06 58,296,703.78 60,291,517.64 1933 Total, second quarter---- 1These figures have been adjusted on account ofrescissions. 9,135,649.25 * Revised. 51,155,868.39 * Decrease. 28 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION TABLE 6–Amount of authorizations, disbursements, repayments, and amounts outstanding from Feb. 2, 1982, to Dec. 31, 1933, inclusive, by months and classes—Continued R E G I O N A L A G R I C U L T U R A L C R E D I T C OR P O R A T I O N S - Co n t i n u e d Amo unt author- || Am oun t dis- Mo nth ized 1 Amount repaid incstanding; reas ºf the bursed period $23,278,692.19 3,483,282.34 3,253,888. 56 $22,287,256.46 3,798,852.57 2,454,622.40 $12,898,417.70 *28, 148,010.72 126,330,278.71 $9,388,838.76 *+24,349,158.15 2323,875,656.31 30,015,863.09 28,540,731.43 167,376,707. 13 2s 38,835,975.70 1,896,465.03 2,109,918.31 3,360,917.40 2,762,700. 50 2,015,321.54 2,929, 313.74 22,014,809.00 15,897,239.21 7,610,410.44 * 19,252, 108.50 * 13,881,917.67 34,681,096.70 Total, fourth quarter----- 7,367,300. 74 7,707,335.78 45,522,458.65 a37,815, 122.87 Grand total.-------------- 160,777,463.92 155, 154,213.72 125,269,065.46 29,885,148.26 LIVESTOCK CREDIT CORPORATIONS $496,990.00 2,548, 195.00 1,260,825.00 2,288,576.00 1,415,216.29 2,753,454.57 1,202, 725.44 478,305.00 $470,990.00 -----------------1,659, 550.00 $4,508.69 1,214,017.01 20,249,41 2,549,078.00 136,771.65 1,315,563. 16 255,983. 27 1,944, 974.76 408,041. 41 1,534,779.79 504,242.20 521,319.62 605,885.43 452,663.65 552,119.55 147,467.62 1,574,457.21 506, 565, 55 194,750.00 Total.-------------------- $470,990.00 1,655,041.31 1,193,767.60 2,412,306. 35 1,059,579.89 1,536,933.35 1,030, 537.59 *84,565, 81 *99,455.90 31,426,989.59 13, 145,602.85 11,810,403. 61 4,062,258.82 7,748, 144.79 130,700.00 37,000.00 69,400.00 48,727. 17 1,453,586.08 919,864. 29 397,576. 56 31,384, 186.08 3871, 137. 12 3.397,576.56 1933 January------------------------ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Total, first quarter------- 167,700.00 118, 127.17 2,771,026.93 32,652,899.76 April--------------------------- 260, 100.00 100,000.00 116,000.00 111,000.00 100,000.00 116,000.00 359,976.98 343,254.35 366,727.39 3.248,976.98 3243,254.35 3250,727.39 Total, second quarter---- 476,100.00 327,000.00 1,069,958.72 3742,958.72 315,517. 13 651,462. 14 *243,334.89 *315,517.13 *651,462. 14 ** 243,334.89 * 1,210, 314. 16 ** 1,210,314.16 284,155.23 292,442. 13 453,647. 07 29,047.04 *292,442.13 3453,647. 07 July---------------------------------------------August--400,000.00 September--------------------- - - - - - - - - - - - - - - Total, third quarter------ - - - - - - - - - - - 400,000.00 ------------------ - - - - - - - - - - - - - - - - - - 313,202. 27 - - - - - - - - - - - - - - - - - - - - - 75,000.00 ------------------ Total, fourth quarter----- 75,000.00 313,202.27 1,030,244.43 *717,042. 16 G r a n d total.-------------- 14,264,402.85 12,568,733.05 10,143,803.06 2,424,929.99 RA IL RO AD S (INCLUDING RECEIV ERS A N D TRUSTEES) $46,975, 757.00 13,812,000.00 37,931,457. 60,923,538.00 54,239,972. 00 16,392,085.00 12,798,583.00 1,322,257.00 -----------------24,791,500.00 $1,147,952.00 18,816,333.00 -----------------15,898,637.00 2,815,727.74 54,824,813.50 2,203,000.00 27,545,736.00 2,990,000.00 41,963,445.50 224,884.31 1These figures have been adjusted on account of rescissions. * Revised. $31,322, 257.00 23,643, 548.00 18,816,333.00 13,082,909.26 52,621,813.50 24,555,736.00 41,738,561.19 * Decrease. REPO RT OF T H E RECO NSTRUC TION FI NA NCE CORPORATION 29 TABLE 6–Amount of authorizations, disbursements, repayments, and amounts outstanding from Feb. 8, 1982, to Dec. 31, 1933, inclusive, by months and classes—Continued R AI L RO A DS (INCLUDING RE CEI VER S A N D TRUSTEES)—Continued A mm oo u n t authorauth ized 1 Mo nth burseddis- A mount Amo unt repaid * *§ Standing; increase the 1932 September--------------------November-December---------------------- $21,293, 541.00 25,926,269.00 38,226,000.00 8,915,891.00 $12,888,851.00 24,931,816.00 8,682,808.00 22,645,074.48 1,910,500.00 162,498.66 125,000. 00 $12,628,851.00 23,021,316.00 8,520,309.34 22,520,074.48 Total.-------------------- 337,435,093.00 284,311,271.48 11,839,562.71 272,471,708.77 3,000,000.00 19,449,922.00 *5,297,828.00 7,583,551.64 24, 510,173.80 14,792,891.30 14,004.00 8,322,417.82 102,189.40 7,569,547.64 16,187,755.98 14,690,701.90 *27,747,750.00 46,886,616. 74 8,438,611.22 38,448,005.52 October--- Total, first quarter------- 11,906,583.00 23,200,000.00 6,950,000.00 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 744,252.00 Pecember--------------------------------------- 000.00 12,275, 136.31 l-----------------17,925,716.98 265,795.18 18,329,660.00 5,125,081. 20 12,275,136.31 17,659,921.80 13,204,578.80 48,530,513.29 5,390,876.38 43,139,636.91 1,302,600.00 281,800.00 1,013,300.00 24,073, 118.10 469,727.04 360,000.00 *22,770,518.10 * 187,927.04 2,597,700.00 24,902,845. 14 *22,305,145.14 4,629,207.30 3,319,658.32 3,819,291.36 6,226,901.36 76,707.61 139,132.18 *1,597,694.06 3,242,950.71 3,680,159.18 - Total, fourth quarter----- 744,252.00 11,768, 156.98 6,442,741.15 5,325,415.83 Grand total.-------------- 411,845.678.00 394,094, 258.49 57,014,636.60 337,079,621.89 PROCESSORS O R DISTRIBUTORS W H O A R E SUBJE CT T O PROCESSING T A X E S $10,047.83 $7,333.69 | 14,400.00 ------------------|-----------------Total, fourth quarter----- 24,447.83 7,333.69 |------------------ Grand total.-------------- 24,447.83 7,333.69 |------------------ STATE FUNDS CREATED F OR T H E P UR PO S E O F INSURING DEPOSITS OF PUBLIC M O N E Y S REPAYMENT OF $5,887,715.88 ------------------------------------|-----------------$5,887,715.88 $74,750.14 374,750.14 - - - - - - - - - - - - - - - - - - Total, fourth quarter----- 5,887,715.88 5,887,715.88 74,750, 14 5,812,965. 74 Grand total.-------------- 5,887,715.88 5,887,715.88 74,750.14 5,812,965. 74 *These figures have been adjusted on account of rescissions. *Revised. * Decrease. 30 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts outstanding from Feb. 2, 1932, to Dec. 31, 1933, inclusive, by months and classes—Continued T O T A L , E M E R G E N C Y R E L I E F A N D C O N S T R U C T I O N A C T O F 1932, A S A M E N D E D M on th A mmoo uu n t authoraut h ized 1 A mI noouunn tt alsdi bursed A mou nt repaid Astanding; º forkthe od $3,000,000.00 l------------------|-----------------------------------63,931,669.00 $3,947,884.00 73, 128,502.22 10,211,699.75 103,002,382.63 17,268,354.97 22,939, 183.60 21,649,600.09 47,042,590.68 43,951, 020.42 Total.-------------------- Total, first quarter------- 313,044,328. 13 97, 144,016. 18 115,456.95 97,028,559.23 58,662,318, 20 73,435,643.20 47,470, 404.35 42,811,872.34 39,810,807. 21 43,943,082.50 144,281.14 60,759, 60 126,566.04 42,667, 591.20 39,750,047.61 43,816, 516.46 179,568, 365.75 126,565,762.05 331,606.78 126,234, 155.27 *25,858, 165.81 47, 159,003.89 55,029,013. 59 6,497,833.23 110,270.37 541,557.37 347,853.91 47,048,733.52 54,487,456.22 6,149,979.32 *94,158,698.66 108,685,850.71 999,681.65 107,686, 169.06 53,113,497.22 219, 295.58 2,022,500.00 11,258,722.89 6,012,631.30 7, 109,122.61 171,499.97 734,781. 32 *617,821.80 11,087,222.92 5,277,849.98 *6,491,300.81 55,355,292.80 24,380,476.80 a1,524, 103.09 *22,856,373.71 253,481, 180.24 153,500, 500.00 443,674.80 8,461,727.36 36,876,451.63 40,059,762. 69 147,991. 14 1,076,730.02 547,632.44 8,313,736.22 35,799,721.61 39,512, 130.25 - June--------------------------- Total, second quarter----| Total, fourth quarter----- 407,425,355.04 85,397,941.68 1,772,353. 60 83,625, 588.08 Grand total.-------------- 1,049,552.040.38 442, 174,047.42 4,743,202.07 437,430,845.35 S E L F - L I Q U I D A T I N G P R O J E C T S , SEC. 201 (a), T I T L E II ( I N C L U D I N G L O A N S F O R F I N A N C I N G R E P A I R O R R E C O N S T R U C T ION O F BUILD I N G S D A M A G E D B Y E A R T H Q U A K E , FIRE, T O R N A D O , O R C Y C L O N E I N 1933) 8,412, 910.24 ,000. 15,377,000.00 |------------------ $360,000.00 15,377,000.00 145,775,534.24 15,737,000.00 ------------------ 15,737,000.00 - * * *- 8,945, 100.00 24,810,372. 20 17,759, 425.35 2,600,000.00 2,600,000.00 327,000.00 2,020,000.00 327,000.00 2,020, 000.00 51,514,897. 55 4,947,000.00 4,947,000.00 5,002,217.00 2,784,525. 64 *25,683,885. 81 a 33.470,628.45 4,442,000.00 2,125,462.06 2,924,819.35 9,492,281.41 4,442,000.00 2,105,462.06 2,902,719. 35 September Total, third quarter-- - 42, 100.00 9,450, 181. 41 15,675.00 243,725.00 7,838, 295, 51 3,828,748. 18 *6,735,152.08 i 18,402, 195.77 50,325.00 11,525.00 4,500.00 7,501,812. 13 3,981,418, 16 3,431,627. 18 7,853,970. 51 3,851,648. 18 6,740,302.08 900.00 * 5, 150.00 18, 445, 920.77 7,552, 137. 13 3,992,943. 16 3,436, 127. 18 Total, fourth quarter----- 3,304.04 14. 981. 207. 47 66, 350.00 14,914,857.47 G r a n d total.-------------- 230,764,364. 28 63,603,409.65 152, 175,00 63,451,234.65 1These figures have been adjusted on account of rescissions. * Revised. REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION 31 TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts outstanding from Feb. 2, 1932, to Dec. 31, 1933, inclusive, by months and classes—Continued F I N A N C I N G O F E X P O R T S O F A G R I C U L T U R A L S U R P L U S E S , SEC. 201. (C), T I T L E II º Ami noun to u nt t auth aut uor ized i M ont h Aminoun o u nt t di oilsbursed Amount repaid i*nStanding; c º ; the - period $1,497,503.38 |-----------------1,903,990.01 341,170.88 3,742,664. 27 55,857.49 3,686,806.78 257,538.30 609,080.03 2,533,445.78 38,064.59 17,636. 57 135,975.72 219,473.71 591,443.46 2,397,470.06 3,400,064. 11 191,676.88 3,208,387.23 7,142,728.38 247, 534.37 6,895, 194.01 FINANCING O F AG RI CU LT UR AL COMM ODI TIES A N D title $1,497, 503.38 1,903,990.01 285,313.39 L I V E S T O C K , SEC. 201 (D), in $50,000,000.00 l------------------|------------------|-----------------1,500,000.001------------------|------------------|-----------------474,740.63 $451,580. 12 $2,034. 55 $449,545. 57 129,616.60 830,276.97 3, 541.00 826,735.97 2,671,563.44 158,117.00 109,881.40 48,235.60 54,775,920.67 1,439,974.09 115,456.95 1,324,517. 14 281,802.20 438,000.00 60,000.00 32,302.20 75,295.96 104,024.04 144,281. 14 60,759.60 126,566.04 *111,978.94 14,536.36 *22,542.00 779,802.20 211,622.20 331,606.78 *119,984. 58 225,329.43 55,000.00 174,280.00 1,349,879.30 465,354, 37 212,668.80 110,270.37 186,657.37 194,508.91 1,239,608.93 278,697.00 18, 159.89 454,609.43 2,027,902.47 491,436.65 1,536,465.82 262,250.00 190,000.00 2,022,500.00 608,800.95 110,290.93 27,649.65 155,824.97 385,441.32 1379,314.31 452,975.98 *275, 150,39 **351,664.66 2,474,750.00 746,741. 53 1920, 580.60 1 -173,839. 07 253,479,000.00 153,500, 500.00 442,551.00 652,051.93 32,274,428.44 34,090, 189.73 59,601.55 1,047,568.45 407, 156.72 592,450.38 31,226,859.99 3,683,033.01 Total, fourth quarter----- 407,422,500.00 67,016,670. 10 1,514,326.72 65,502,343.38 Grand total.-------------- •465,907, 133.30 *71,442,910.39 43,373,407.70 68,069,502.69 AMOUNTS M A D E AVAILABLE FOR RELIEF A N D W O RK R E L I EF , SEC. 1, T I T L E I $3,000,000.00 -----------------------------------------------------13,931,669.00 $3,947,884.00 -----------------$3,947,884.00 18,523,502.22 10,211,699.75 -----------------10,211,699.75 22,594,762.00 16,818,809.40 -----------------16,818,809.40 18,484,823.00 20,462,864. 12 ||-----------------20,462,864. 12 35,958, 117.00 28,525,784.82 ||-----------------28,525,784.82 112,492,873. 22 79,967,042.09 ------------------ 79,967,042.09 *These figures have been adjusted on account ofrescissions. :# ºvised. Decrease. *Includes authorizations of$400,000,000to the Commodity Credit Corporation, of which $65,671,729.97 wasdisbursed and $1,095,770.92was repaid 32 REPORT OF T H E TABLE 6.-Amount RECONSTRUCTION FINANCE CORPORATION % outstanding from authorizations, disbursements, repayments and amounts eb. 8, 1932, to Dec. 31, 1933, inclusive, by months and classes—Continued #.AND A M O U N T S M A D E AVAILABLE FO R W O RK R E L I E F , SEC. 1 T I T L E I – ontinu Amount out Amoun t author Month A m o u n t di s bursed ized A mou nt repaid standing: increase for the period $49,435,416.00 || $40,179,570.14 48, 187,271.00 29,650,979.00 - - - 127,273,666.00 121,407,139.85 48,973,962.78 11,259,498.00 41,367,124.59 52,438,197. 16 3,360,345.08 $334,900.00 131,245.00 41,367,124.59 52, 103,297. 16 3,229, 100.08 97, 165,666.83 466,145.00 96,699, 521.83 - - - - - - - - - - - - - - - 60,233,460.78 - - - - $40,179,570.14 39,408, 511.25 41,819,058.46 39,408,511.25 41,819,058.46 - - - - - - - - - - - 300,000,000.00 - - - - 121,407, 139.85 - - - - 1,298,448.05 -----------------146,702.18 326,440.00 177,500.00 - - - - - - - - - - - - - 1,298,448.05 1179,737.82 $177,500.00 1,445, 150.23 503,940.00 941,210.23 299,984,999.00 970,085.00 2.99,014.914.00 T O T A L , A C T A P P R O V E D M A R C H 9, 1933, A S A M E N D E D $14,932,500.00 $12,750,000.00 $12,750,000.00 14,932, 500.00 12,750,000.00 12,750,000.00 7,600,000.00 16,697,500.00 8,188,000.00 7,582,500.00 5,150,000.00 17,985, 500.00 7,582,500.00 5, 150,000.00 17,980, 815.00 32,485,500.00 30,718,000.00 30,713,315.00 14,798,000.00 *3,471,000.00 *4,385,000.00 8,185,000.00 7,677, 500.00 3,776,000.00 8, 178,766.97 7,676,598.25 3,775,950.00 *22,654,000.00 19,638,500.00 19,631,315.22 30,965,000.00 90, 174,500.00 312, 589,600.00 2,990,000.00 44, 155,000.00 154,094, 716.67 2,957,265.63 44,045,089.75 154,091,607.26 433,729, 100.00 201,239, 716.67 145,754.03 201,093,962. 64 503,801, 100.00 264,346,216.67 157,623.81 264,188,592.86 R R e d ST OC K OF BA N KS A N D TR US T CO MPA NIE S 1933 March------------------------- $1,250,000.00 $250,000.00 ------------------ $250,000.00 Total, firstquarter------- 1,250,000.00 250,000.00 ------------------ 250,000.00 1,000,000.00 10,930,315.00 11,930,315.00 32,734.37 22,610.25 3,109.41 33,766.97 551,598.25 175,950.00 761,315,22 542,265.63 *22,610.25 826,490. 59 58,454.03 70,323.81 1,346,145.97 14,287,776. 19 - October-----------------------------------------575,000.00 November 555,000.00 -----------------December---------------1,587, 100.00 829,600.00 Total, fourth quarter----Grand total.-------------- 2,142, 100.00 17,218,600.00 1,404, 600.00 14,358, 100.00 *These figures have been adjusted on account ofrescissions. * Revised. * Decrease. R E P O R T O F TEIE R E C O N S T R U C T I O N FINANCE CORPORATION 33 TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts outstanding from Feb. 8, 1988, to Dec. 31, 1983, inclusive, by months and classes—Continued SUBSCRIPTIONS F O R P R E F E R R E D S T O C K OF B A N K S A N D T R U S T C O M P A N I E S Month A m o u n t authorhorized 1 || A m o uurnste di dis- Amountrepaid i*Standing; n* c º*the period 1933 March-------------------------| Total, third quarter------ - $13,682,500.00 $12,500,000.00 ------------------ $12,500,000.00 13,682,500.00 12,500,000.00 ------------------ 12,500,000.00 7,400,000.00 9,112,500.00 4,838,000.00 7,582,500.00 4,150,000.00 850,500.00 7,582,500.00 4,150,000.00 6,850,500.00 21,350,500.00 18,583,000.00 18,583,000.00 12,682,500.00 22,845,000.00 23,735,000.00 8,145,000.00 6,625,000.00 3,600,000.00 8,145,000.00 6,625,000.00 3,600,000.00 *19,262,500.00 18,370,000.00 ------------------ 18,370,000.00 5,925,000.00 17,990,500.00 181,252, 100.00 2,415,000.00 -----------------4,115,000.00 $87,300.00 77,015, 116.67 ------------------ 2,415,000.00 4,027,700.00 77,015, 116.67 Total, fourth quarter-----| 205,167,600.00 83, 545, 116.67 87,300.00 83,457,816.67 Grand total.-------------- 259,463,100.00 132,998, 116.67 87,300.00 132,910,816.67 PURCHASES OF CAPITAL NOTES O R D E B E N T U RE S OF B AN K S A N D TR US T COMPANIES $200,000.00 71.625,000.00 40,040,000.00 76,250,000.00 129,750,400.00 226,419,400.00 || 116,290,000.00 ------------------ 116,290,000.00 227,119,400.00 || 116,990,000.00 ------------------ 116,990,000.00 T O T A L , A G R I C U L T U R A L A D J U S T M E N T A C T O F 1933 (T O S E C R E T A R Y O F A G R I C U L T U R E T O A C Q U I R E C O T T O N , S EC. 5, T I T L E I) 3,300,000.00 Total, fourth quarter-----|------------------|------------------ 3,300,000.00 Grand total.-------------- 3,300,000.00 !----------------- 3,500,000.00 3,300,000.00 *These figures have been adjusted on account of rescissions. *3,300,000.00 - * Revised * Decrease. 34 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts outstanding from Feb. 2, 1932, to Dec. 31, 1933, inclusive, by months and classes–Continued TOTAL, E M E R G E N C Y F A R M M O R T G A G E A C T O F 1933 (DRAINAGE, LEVEE, A N D I R R I G A T I O N D IS TR IC TS , SEC. 36, T I T L E II) Amount out A m o u n t auth or ized 1 Month A m o u n t d is Am oun t repaid bursed standing; increase for th e period October---November December-- $2,308,239.21 -----------------------------------------------------2,132,773. 50 !----------------12,429,273.53 $2,413,955. 10 $2,413,955. 10 - - Total, fourth quarter----- 16,870,286. 24 2,413,955. 10 ||------------------ 2,413,955. 10 Grand total.-------------- 16,870,286. 24 2,413,955. 10 !------------------ 2,413,955.10 T O T A L , A C T A P P R O V E D J U N E 10, 1933 ( L O A N S O N P R E F E R R E D S T O C K O F I N S U R A N C E COMPANIES) $4,375,000.00 $4,375,000.00". $4,375,000.00 Total, fourth quarter----- 4,375,000.00 4,375,000.00 ------------------ 4,375,000.00 G r a n d total.-------------- 4,375,000.00 4,375,000.00 |------------------ 4,375,000.00 1These figures have been adjusted on account of rescissions. TABLE 7.-Number of borrowers and amounts of loans authorized under sec. 5 of the Reconstruction Finance Corporation Act, as amended,1 Feb. 2, 1982, to Dec. 31, 1938, inclusive, by size of cities or towns BANKS A N D TRUST COMPANIES Borrowers Population of cities or º Authorizations w h i c h borrowers - are locate Number Percent of total 4,541 70.5 516 470 227 193 142 102 133 119 8.0 7.3 3.5 6,443 Amount Percent total of 12.6 2.2 1.6 2.1 1.8 $227,945, 101.88 80, 560,527. 11 127, 122,441.48 108,309, 116.76 213,799, 751.89 172,079,380.64 215,817,870. 74 350,749,338.72 309,685,642.33 100.0 1,806,069,171.55 100.0 3.0 4.5 7.0 6.0 11.8 9.5 12.0 19.4 17.2 R P O R A T I O N AC T, A S A M E N D E D 1 4,764 60.6 617 650 383 361 235 341 282 225 7.8 8.3 4.9 4.6 3.0 4.3 3.6 2.9 7,858 $247, 176,664.32 89,946,063. 28 153,986,130.55 135,803,312.13 254,925,811.83 208,251,873.86 313,492,494.36 498,832, 576.22 495,837,734.67 10.3 3.7 6.4 5.7 10.6 8.7 13.1 20.8 20.7 100.0 2,398,252,661.22 100.0 1Exclusive of railroads, regional agricultural credit corporations, Federal land banks, Federal interme diate credit banks, processors or distributors who are subject to processing taxes, and State funds created or the purpose of insuring repayment of deposits of public moneys. REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION 35 TABLE 8.—Names and compensation of directors, officers, and employees of the Reconstruction, Finance Corporation receiving from the Corporation more than $400 per month, as of Dec. 31, 1933 W A S H I N G T O N OFFICE Title Name Basic salary per Net mont sal in ont h per Jones, Jesse H-------------------------Blaine, John J. Couch, Harvey C Merriam, C. B.---- $833 $708.33 708.33 708.33 708.33 708.33 972. 22 22 77 77 33 33 33 33 33 33 33 33 33 33 33 33 33 00 00 672. 93 658. 74 651.67 - ; | d Assistant Chief, Agency Division----Assistant Chief Engineer-------------- - - - - - - - - - - - - - - - - - - - - - - Assistant treasurer -1 Chief auditor-------------------------mil-------------------------Levee and Irrigation Cºnse. - v is io n . - - - - - - - - - - - - - - - - - - - - - - - Administrative Assistant, Bank Relations Section. - - - Assistant to the directors-------------- Assistant to the chairman------------- - - - - - - - - - - - - - - - - - - Administrative Assistant, Agency 602.08 602.08 595.00 595.00 580.83 566.67 566.67 666.67 666. 67 666.67 666.67 666.67 666.67 666.67 625.00 625.00 625.00 625.00 566,67 566.67 566.67 566.67 566.67 566.67 566.67 531.25 531.25 531.25 531.25 Division. Niemeyer, F. W------------------------ Special representative----------------Shannon, Ernest* I - - - - - do-------------------Gardner, Bu nk C. J.----D 700.00 700.00 683. 666.67 666.67 602.08 - - - - - - - - - - - i 637.50 637. 50 602.08 602.08 625.00 625.00 625.00 625.00 625.00 625.00 625.00 625.00 625.00 616.66 600.00 600.00 531.25 531.25 531.25 531.25 531.25 531.25 531.25 531.25 531.25 524. 16 510.00 510.00 95.83 36 R E P O R T O F TEIE R E C O N S T R U C T I O N FINANCE CORPORATION TABLE 8.—Names and compensation of directors, officers, and employees of the Reconstruction. Finance Corporation receiving from the Corporation more than $400 per month, as of Dec. 31, 1933–Continued W A S H I N G T O N O FF I CE –C o nt i nu ed Name Basic salary per Net msalary per month on th Title Allen, Ronald H------------------------ Assistant secretary---McCarthy, William G. Assistant to Mr. TalleyParks, Thomas E--assistant, Agency Di- Aºrative $566.67 $481-67 566.67 566.67 481.57 481-67 566.67 558.33 541. 67 541. 67 541.67 541.67 441.67 541.67 541.67 541.67 541.67 541.67 541.67 541-67 541.67 541.67 541.67 533.33 525.00 516.67 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 481.57 474-58 460-41 460-41 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 491-67 491.67 475.00 466.67 458.33 458.33 458.33 458.33 458.33 458.33 458.33 458.33 458.33 450.00 450.00 450.00 416.67 416.67 416.67 416.67 416.67 416.67 425.00 525.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 vi s io n. Rossman, Richard---------------------- Examiner----------------------------Unzicker, Willard E---Rowe, John A., Jr.-------- Hamilton, Claude E., Jr.---------------Augherton, George A.--------Coit, Gladding B----------------------Cloninger, C. W-----------------------Davis, Thomas H---------------------Fraser, J. A.---------------------------Greer, Frank H-----------------------Jones, Ralph 8------------------------Kiesling, Robert J---------------------Powell, Alexander H------------------- W. 6...I.I.I.I.I.I.I.I. Stoddard, Howard ji-I-I-III----------Stroud, W . E.----Toole, J. E.--------elly, Leo P---------Ward, Maxwell--Fort, James L--- Hobson, Alfred T----------------------Hays, R. B---------------------------- Hoeltzel, Lloyd C---------------------Kuehl, Frank W----------------------Smith, Elbert L-----------------------Everett, Ewing------------------------- C Koplin, Alex--------------------------Wolford, Albert M--------------------- Dodds, Chauncey Y-------------------Irrigation Division. Swift, W . E.---------------------------- Chief Engineer------------------Roper, James H. Supervising Engineer----------------Young, R. Chief, Recording Section-------------Farrell, Edward. A Supervising accountant--------------Rickey, Frank---Field representative------------------O'Neal, Henry, John L. Armistead, Robert P - - - - - #assett, Albert E...I.I.I.I.I.I. Berrett, R. W-------------------Boothe, Gardner L., Broyles, R. P------------Byrns, Miles J.----------Johnson, W . J.-----------LaFever, Dwight Y-------------------McCartney, Morton Moore, Milton K----------------------O'Bleness, E. J.----------------Ronan, Frank T---------------Seabury, R. M----------------Sullivan, William W. Wuerth, H. L----------------Howell, David J.-----------------Miller, David-------------------Shields, Leighton----------------------Byrd, Percy---------------------------Satterfield, W . R.----------------------- C Dickinson, R. G-----------------------Gelbach, Loring L---------------------Griffin, Charles N.---------------------Howard, Ernest B---------------Lawrence, Donald E Stewart, Adelbert T-------------Wadden, Thom as A-------------Webb, George T---------Kannee, Henry M-------- Aroore, HiltonM.III. Luther, Forrest------- Fletcher.Lloyd- Russell, Lewis C----Bennett, Andrew W-------------------Glueck, Nathan H--Henry, Heber-------------------------Sheridan, Bernard L.-------- - - - - - - - - - - - - 460.41 460-41 450.41 460-41 460-41 450.41 640.41 450.41 460-41 450.41 450.41 450.41 450.41 453-33 448-24 439.17 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 417.92 417.92 403.74 396.67 389.58 389-58 389.58 389.58 389.58 389-58 389.58 389-58 380.58 382.50 382.50 382.50 354.17 354.17 354.17 354.17 354.17 354.17 REPORT OF T H E REC ONSTR UCTI ON FI NA N CE CORPORATION 37 TABLE 8–Names and compensation of directors, officers, and employees of the Reconstruction Finance Corporation receiving from the Corporation more than $400 per month, as of Dec. 31, 1933–Continued W A S H I N G T O N O FF ICE –C on ti nue d Name Title i . Basic salary Net per month per sal Tracy, Frank Harrington, John Lyle Coleman, John F. $416.67 $354.17 416.67 416.67 416.67 416.67 416.67 416.67 416.67 416.67 416.67 416.67 416.67 416.67 416.67 416.67 416.67 416.67 416.67 416.67 416.67 416.67 416.67 416.67 416.67 416.67 354.17 354.17 354.17 354.17 354.17 354.17 354.17 354.17 354.17 354.17 354.17 354.17 354.17 354.17 354.17 354.17 354.17 354.17 354.17 354.17 354.17 354.17 354.17 354.17 416.67 § 2) 354.17 (l ( $625.00 $531.25 416.67 354.17 L O A N A G E N C I E S (8) Atlanta, Ga.: Bergstrom, A. M------------------- Manager-----------------------------Chadwell, W.A.-----------*--------- Assistant manager-------------------Birmingham, Ala.: Cottingham, T. J.------------------- Manager-----------------------------Boston, Mass.: Osgood, Edward H----------------- -----do--------------------------------Vose, to Assistant managerHagerty, John J.-o Scott, W. Charlotte, N.C.: Campbell, John A., Jr.-------------- Manager-----------------------------Chicago, Ill.: Gallagher, F. D.--------------------|-----do--------------------------------Zeiss, Carl HAttorney---------Ernst, D. W- Chief, closed banks.-Walker, Lee-Attorney---------Best, James M---------------------|-----do----------Beutel, Clarence A Special assistant--Black, Craig O.----Examiner------Gregson, William F----------------|-----do----------Hoel, M . O.------Attorney-------Mudgett, C. F--Examiner----------Townsend, Bruce--Field representativeAnderson, George SExaminer----------Murchison, Frank M---------------|-----do------------Walters, Harold S------------------| Attorney-----------Achor, L. B------------------------| Examiner----------Gill, Charles RKnight, H. B--Smith, James C.Standish, M . L.--- Office manager-------Touhy, Arthur--------------------- Examiner----------------------------- 600.00 510.00 833.33 625.00 500.00 416.67 708.33 531.25 425.00 354.17 450.00 382. 50 833.33 708.33 625.00 625.00 500.00 boo. 00 500.00 500.00 500.00 500.00 500.00 458.33 458.33 450.00 416.67 416.67 416.67 416.67 416.67 416.67 708.33 602.08 531.25 531.25 425.00 425.00 425, 00 425.00 425.00 425.00 425.00 389. 58 389. 58 382.50 354.17 354.17 354.17 354.17 354.17 354.17 1.A s member ofthe Engineers’ Advisory Board at rate of$32.50 per day, less 15 percent, when employed. Compensation for October, basic $487.50, net $414.38; for November, basic $617.50, net $524.87; for D e c e m ber, basic $357.50, net $303.88. * A s member ofthe Engineers’ Advisory Board at rate of$32.50 per day, less15 percent, when C o m tion for October, basic $390.00, net $331.50; for November, basic, $390.00, net $331.50; for D e c e m ber, basic $357.50, net $303.88. * Except as herein indicated, attorneys handling legal matters ofthe various agencies of the corporation *E. do not receive salaries but are paid in the customary way according to the character and volume of the work performed and therefore are not included. 38 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION TABLE 8.—Names and compensation of directors, officers, and employees of the Reconstruction Finance orporation receiving from the Corporation more than $400 per month, as of Dec. 31, 1938–Continued L O A N A GENC IES-C onti nued Name Basic salary Net per month per msalary on th Title - Cleveland, Ohio: Callander, F. S Davies, M . C__ Dallas, Tex.: Andrews, Warren P--- $666.67 $566.67 416.67 354.17 700.00 595.00 833.33 500.00 416.67 708.33 425.00 354-17 500.00 425.00 500.00 425.00 833.33 666.67 500.00 708-33 565-67 425.00 500.00 500.00 425.00 425.00 416.67 354.17 500.00 425.00 Acting manager-------Special assistant---------------------- * 625.00 700.00 531.25 595.00 Manager-----------------------------Assistant manager-------------------- 583.33 453. 33 495. 380. 58 Acting manager----------------------Assistant managerExaminer 683. 33 416.67 416.67 580. S3 354-17 354.17 833.33 833.33 791.67 666.67 500.00 458.33 458.33 416.67 777.77 708.33 672.90 566.67 425.00 389.58 389.58 354.17 Detroit,Mich.: Fisher, CharlesT.,Jr. Hewitt, Charles HBarber, Everett--Houston, Tex.: Ford, R. F.---Jacksonville, Fla.: Farwell, Fred H--Kansas City, Mo.: Hodges, Frank-----Rice, Carl V------Tremble, George T----------------Little Rock, Ark.: Jarrett, J. W----------------------- Manager-----------------------------Pettit, Clyde----------------------- Special counsel------------------------ LosAngeles,Calif: Scroggs, Thomas Louisville, ky. C----------------- Assistant manager-------------------- Rash, Frank D--------------------Minneapolis, Minn.: Chapman, Josºph Barton, John W-------------------Nashville, Tenn.: Gardenhire, J. M------------------Davis, Lee------------------------N e w Orleans, La.: Buskie, George F------------------Robertson, Geo. W----------------Knight, M . J.----------------------N e w York, N.Y.: Mahoney, Daniel J.----------------Cahill, William J.------------------Ahearn, Thos. J., Jr.---------------Smith, Frederick P----------------Sanford, Clarence R---------------Stevens, Harry I.------------------- - - - - - - - - - - - - - - - - - T Manager---------------------- - - - - - - - - - - - - - - - - - - - - - - , Young---------------------- Clarke, A. J., Jr.-------------------Oklahoma City, Okla.: Eagen, J. C.-----------------------Omaha, Nebr.: Daniel, Herbert S-----------------Philadelphia, Pa.: Graham, Samuel, Jr.---------------Denworth, Hugh F----------------- Assistant manager-------------------Thompson, John M.-------Office attorney-----------------------Gretz, Arthur A-------------------- Examiner----------------------------Portland, lade. E. F------------------------- Manager-----------------------------Shultz, Walter D------------------- Assistant to manager-----------------Richmond, Va.: Combs, E. R.----------------------- Manager------------------------------ - - - - - - - º; 450.00 382.50 500.00 425.00 833.33 708.33 500.00 441. 67 708.33 602-08 425.00 375.42 450.00 450.00 382.50 382.50 700.00 595.00 450.00 382.50 500.00 425.00 saltfºre & ty,Utah Smith, Elias A---------------------|-----do--------------------------------San Antonio, Tex.: Meerscheidt, Otto------------------|-----do--------------------------------San Francisco, Calif.: alkins, A. A.---------------------McCullough, John S Hossack, Harry F St. Louis, Mo.: Vardaman, James K., Jr.------------ Manager-----------------------------Kerr, R. D.------------------------- Assistant manager-------- - - - - - - - - - - - 600.00 416.67 (*) 833.33 500.00 510.00 354.17 (*) 708.33 425.00 *W h e n actually employed. * Employed on per diem basisat$25per day less15percent. Compensation for October, basic rate $550, less15percent,$467.50. Compensation forNovember, basicrate$525,less15percent,$446.25. Compensa. tion for December, basic rate $500, less 15percent, $425. REPORT OF TH E RECONSTRUCTION FINANCE CORPORATION 39 TABLE 9.—Statement of cash receipts and expenditures during the fourth quarter Oct.1 to Dec. 31,1933, inclusive (Corporation's accounts withTreasurer ofUnited States) Cashbalanc eatthecloseofbusinessSept.30,1933,asperthebooksofthetreasurerofthe i on $8,640,272.57 Add: Checks issued prior to Oct. 1,1933, canceled during October, 1933. Deduct: Correctionsoferrorsreported to the treasurer ofthe Corporation subsequent to Sept. 30, 1933 - - 333. 41 Adjusted cash balance atthe closeofbusiness Sept. 30, 1933.--------- 8,640,605.08 Receipts: Sale of notes-------------------------------------------------Repayments of loans: T o banks and trust companies (including re ceivers)----------------------------------------- $97,278,351.94 To credit unions---------------------------------47,443. 17 T o building and loan associations----------------- 10,740,969.02 T o insurance companies--------------------------- 7,942,675.27 T o joint-stock land banks------------------------423,465.60 T o livestock credit corporations------------------1,030,244.43 T o mortgage loan companies---------------------- 7,903,399.41 T o regional agricultural credit corporations-------- 45,195,645.69 T o other agricultural credit corporations----------768, 587.80 T o railroads (including receivers)------------------ 6,442,741.15 For self-liquidating projects under Sec. 201—a (bonds 13,500.00 paid, par For repair or reconstruction of property damaged by earthquake, etc.-----------------------------52,850.00 ; - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - For financingsaleofagriculturalsurplusesinforeign markets----------------------------------------- 191,676.88 To institutions undersec.201-d: Commodity credit corporationOther--------------------T o Secretary of Agricu ment Act)-------------Secured by preferred stock banks and trust c o m panies------------------------------------------T o State funds for insurance of deposits of public 1,095,770.92 418,555.80 3,300,000.00 moneys----------------------------------------- 74,750.14 - - - - - - - - - - - - - - - - - - - - - - - - - - 58,454.03 182,979,081.25 87,300.00 13,744,132.42 36,529.98 Preferred stock retirements Interest and discount collected.----------------Accrued interest on series E 2%-percent notes.----Dividends collected on preferred stock purchased.-Reimbursable expense collected.----------------------------Repayments on advances for care and preservation of collateral Collections on collateral to rediscounts.--------------------Collections on collateral purchased.-----------------------Capital reductions regional agricultural credit corporations-Refunds of expenses paid---------------------------------Unallocated-pending advices----------------------- - - - - 430, 395. 61 112, 528.68 94,671.78 115,511.34 Miscellaneous (includingamounts credited inerror)------------------ 6,667,047. 55 209,725.63 936,803, 434.94 T945,444,040,92 Expenditures: Loan disbursements: T o banks and trust companies (including receivers)-------------- $136,421,936. 39 T o credit unions---------------------------------4,000.00 T o building and loan associations--------------1,818,is 75 To insurance companies------------------------T o Federal land banks-------------------------T o joint-stock land banks----------------------4,147,869.49 313,202.27 T o livestock credit corporations----------------T o mortgage loan companies 28,455,912.24 To onal agricultural credit corporations-------7,557,736. 16 T o other credit corporations---------253,084. 14 11, 156.98 T o railroads----------------------------------------------To or distributors for payment of processing taxes ,333.69 5,887,715.88 T o State funds for insurance of deposits ofpublic moneys-------For self-liquidating projects under sec. 201—a (bonds and notes 14, 136,283.43 purchased, par $14,319,200)------------------------------------- ºfficultural * § . - For repair or reconstruction of property damaged by earthquake, etc. For financing sale ofagricultural surpluses in foreign markets-----T o institutions under sec. 201-d: credit corporation gººdity t er T o drainage, levee, and irri § Secured by preferredstock and trust comp Secured by preferred stock insurance companies----- 844,613.27 3,400,064. 11 65,671,729.97 1,344,940. 13 2,413,955.10 1,404,600.00 4,375,000.00 Reliefgrants (1933act)-----------------------------------------------) Payments of subscriptions to capital regional agricultural credit corporations (in cr ea ses Purchases ofcapital notes and debentures, banks and trust companies-- º of preferred stock banks and trust companies-----------------------------to Secretary of the Treasury (for purchase of stock of Federal home loan 116,290,000.00 83, 545, 116.67 18,375,700.00 40 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION TABLE 9.—Statement of cash receipts and expenditures during the fourth quarter Oct.1 to Dec. 31, 1933, inclusive (Corparation's accounts with Treasurer of United States)—Continued Expenditures—Continued. Payments to Secretary of the Treasury (for purchase of stock of H o m e Owners' Loan rporation).----------------------------------------------------------------------- $17,000,000.00 Payments to d Bank Commissioner---------------------- 72,000,000.00 Payments to Governor of Farm Credit Administration 40,500,000.00 Advances for expenses, regional agricultural credit corporations (under Farm Credit Administration).------------------------------------------------------------------1,348, 500.00 Advances for expenses, Federal Emergency Relief Administration.-111,622.71 Advances for care and preservation of collateral-------------------------------------345,573.91 Refund ofinterestoverpayments-----------48,974. 57 Release of cash collateral to rediscounts---------------------------------------------95,997.00 Interest on cash collateral to rediscounts -----------------------------1,740. 60 Discount rebates and refund of unearned discount 166,671. 53 Release offunds heldin suspense----------------------------------------573,761.80 Interest on notes--------------------------------------------------------------------- 29,714, 520. 55 Accrued interest on capital notes purchased (banks and trust c o m panies)------------------------------------------------------------$14,367. 13 Accrued interest on bonds purchased (self-liquidating projects)-----153,258.64 Additions to pettycash funds---------------------------------------3,700.00 Furniture and fixtures----------------------------------------------53,935. 70 Expense, general----------------------------------------------------774, 166.30 Expense, loan agency-----------------------------------------------906,662.85 Expense, custodian-------------------------------------------------453,949.45 Reimbursable 186,270.44 - - - - - *†.----------------------------------------------- Miscellaneous (including refunds and adjustments for amounts credited in error)--------------------------------------------------— 210,573.11 938,787,765. 22 Cash balance at the close of business Dec. 31, 1933---------------------------------- 6,656,275. 70 NOTE.-In addition tofunds on deposit with theTreasurer ofthe United States, custodian banks held in suspense funds which amounted to $2,934,385.45 at the close of business Sept. 30, 1933, and $5,056,007.01 at theclose ofbusiness Dec. 31, 1933. TABLE 10.-Statement of cash receipts and expenditures ofthe corporation Jan. 1 § Dec. 31, 1983, inclusive (corporation's accounts with Treasurer of United tates) Cash balance at the closeofbusiness Dec. 31, 1932,as per the books ofthe treasurer ofthe Corporation--------------------------------------------------------------------------Receipts: Sale of notes------------------------------------------------------- $1,641,299,666.67 Repayments ofloans: T o banks and trust companies (including re ceivers)------------------------------------- $454, 139,508.69 T o credit unions--------------57,551.20 To buildingand loanassociations- 36,263, 582.59 To insurance companies---------------- 20,045, 135.29 T o Federal intermediate credit banks.--9,242,975.63 T o joint-stockland banks---------744, 537.17 To livestock credit corporations-6,081,544.24 To mortgage loan companies------------------ 24, 186,144.90 - - - To regional agricultural credit corporations---- 124,196,818.67 º T o other credit corporations-----T o railroads (including receivers)------------- 2,412,027.46 45,175,073.89 For self-liquidating projects under sec. 201—a (bonds paid, par $60,500)-------------------- 60,500.00 Forrepairorreconstructionofproperydamaged by earthquake, etc.-------------------------- 91,675.00 For financing sale of agricultural surpluses in foreign markets----------------------------T o institutions under sec. 201—d: 247,534.37 Commodity credit corporation------------ 1,095,770.92 2,162,179.83 Other------------------------------------- To Secretary of Agriculture (Agricultural A d justment Act)------------------------------- 3,300,000.00 Secured by preferred stock, banks and trust companies---------------------------------- 70,323.81 To Statefunds forinsurance ofdepositsofpub lic moneys---------------------------------- 74,750.14 — Preferred stock retirments - - - - - Reliefdisbursements (1932act) repaid----------------------------Interest and discount collected.------------------------------------ Accrued intereston series E.2%-percent notes.-------------------Dividends collectedon preferred stock purchased.-Reimbursable expense collected.----------------------------------- § º . on advances for care and preservation of collateral.--Collections on collateral to rediscounts.--------------------------Collections on collateral purchased.-------------------------------- Funds ofregional agricultural credit corporations------------------ Return of #. cash---------------------------------------------- 729, 647,633.80 87,300.00 970,085.00 48,111,702.16 36,529.98 448,451.16 310,897.82 286, 136.35 562,596.53 217,562.36 10,800,000.00 250.00 Return ofdeposits with bids forpurchase of bonds (self-liquidating Projects)-------------------------------------------------------- 130,820.00 $7,927,927. 23 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION 41 TABLE 10.-Statement of cash receipts and expenditures of the corporation Jan. 1 to Dec. 31, 1933, inclusive (corporation's accounts with Treasurer of United States)—Continued Receipts—Continued. Capital reductions regional agricultural credit corporations-------R ds of expenses paid--------------------------------Funds received from Secretary of AgricultureUnallocated, advices------------------------------------Miscellaneous (including amounts credited in error and remittances not collected)--------------------------------------------------— P.; $13,300,000.00 43, 564.64 5,000,000.00 18,683,257.31 1,158,735.03 Total.--------------------------------------------------------------------------- Expenditures: Loan disbursements: T o banks and trust companies (including receivers)----------T o credit unions---------------------------------------------T o building and loan associations----------------------------T o insurance companies--------------------------------------T o Federal land banks---------------------------------------- T o Federal intermediate credit banks.------------------------T o joint-stock land banks------------------------------------T o livestock credit corporations------------------------------T o mortgage loan companies---------------------------------To onal agricultural credit corporations. T o other agricultural credit corporations receivers)----T o railroa T o processors or distributors forpayme g T o State funds for insurance of deposits of public moneys----For self-liquidating projects under Sec. 201—a (bonds and notes purchased, par $45,797,700)---------------------------------For repair or reconstruction of property damaged by earth quake, etc.--------------------------------------------------For financing sale of agricultural surpluses in foreign markets-T o institutions undersec. 201-d: Commodity credit corporation---------------------------Other----------------------------------------------------- § - - - - To drainage, leveeand irrigationdistricts--------------------Secured by preferred stock banks and trust companies-------Secured by preferred stock insurance companies--------------T o Secretary of Agriculture (Agricultural Adjustment Act) --- 578,707,448.61 138,789.41 19,187,440.08 19,644,414.60 123,618,000.00 9,242,342.72 12,420,274.14 758,329.44 126,040,390.39 145,143,392.99 1,729,011.24 109,782,987.01 7,333.69 5,887,715.88 45,086.539.62 2,760,985.88 7,142,728.38 65,671,729.97 4,331,206.33 2,413,955. 10 14,358, 100.00 4,375,000.00 3,300,000.00 Relief disbursements (1932 act) Relief grants (1933 act) Payments ofsubscriptions to capital of regional agricultural credit corporations----Payments ofsubscriptions to capital of regional agricultural credit corporations (in creases)-----------------------------------------------------------------Purchases of capital notes and debentures banks and trust companies-Purchases of preferred stock banks and trust companies---------------Payments to Secretary of Agriculture----------------------------------------------to Secretary of the Treasury (for purchase of stock of Federal home loan - $2,471,095,188.81 2,479,023,116.04 - - - F º 1,301,748. 115.48 220,017,956.91 314,960, 940.87 ,300,000.00 10,500,000.00 - 000.00 .67 000.00 74,925,700.00 the Treasury ( o orporation).---------------------- - Payments to fland Bank Commission - Payments to Governor of Farm Credit A d m Withdrawal by regional agricultural credit corporations of funds held for th Advances for expenses regional agricultural credit corporations (under Farm Credit Administration).-----------------------------------------------------------------Advances for expenses Federal Emergency Relief Administration Advances for care and preservation of collateral-----------------Re und of interest overpayments----------------------------Release of cash collateral to rediscountsInterest on cash collateral to rediscounts----------Discount rebates and refund of unearned discount----------Release of funds held in suspense----------------------------Interest on suspended credits, mortgage loans Interest on notes--------------------------------------------------------Accrued interest on capital notes purchased (banks and trust companies) Accrued interest on bonds purchased (self-liquidating projects)----------Accrued interest on notes purchased (mortage Company)-----Deposits with bids for purchase of bonds (self-liquidating projects) Additions to petty cash funds-----------------------------------Petty cash funds Federal Emergency Furniture and fixtures--------------------------------------Expense, general--------------------------------------------Expense, loan agencyExpense, cus - - - - - - - - - Expense, region agriculturalcred Reimbursable expense--------------------Miscellaneous (including refunds and adju and remittances not collected)---------------------------------------------------- Cash balance at the close of business Dec. 31, 1933--------------------------------- 19,000,000.00 82,600,000.00 ,500,000.00 27,300,000.00 3,408,039.73 201,558.62 811,073. 40 241,420.06 289,212.86 4,051.63 364,494.98 1,333,325.67 26.09 46,474,726.07 14,367. 13 469,447.35 4,882.19 104,200.00 2,975.00 200.00 181,151.83 2,907,448.62 2,788,696.38 1,705,010.93 2,231,258. 16 877,263. 51 1,111, 180.20 2,472,366,840.34 6,656,275. 70 NotE.-In addition to funds on deposit with the Treasurer of the United States, custodian banks held in suspense funds which amounted to$1,464,285.96at the close of business Dec. 31, 1932, and $5,056,007.01at the close of business Dec. 31, 1933. 42 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION TABLE 11.-Statement of cash receipts and expenditures of the Corporation Feb. ? 1982, to Dec. 31, 1938, inclusive (Corporation's accounts with Treasurer of United States) Receipts: Sale of capital stock------------------------Sale of notes--Repayments of loans: $500,000,000.00 2,451,299,666.67 - To banks and trust companies (including receivers)----------------------------------- $718, 113,410.50 To credit unions-----------------------------66,389.20 T o building and loan associations------------- 46,813,134.66 T o insurance companies----------------------- 25,747,466.86 T o Federal intermediate credit banks--------9,242,975.63 T o joint-stockland banks--------------------807,081.49 T o livestock credit corporations--------------- 10,143,803.06 T o mortgage loan companies------------------ 35,518,359.66 T o regional agricultural credit corporations---- 124, 197,480.04 T o other agricultural credit corporations-----3,494,337.86 T o railroads (including receivers)------------- 57,014,636.60 For self-liquidating projects under sec. 201—a (bonds paid, par $60,500)-------------------60,500.00 For repair or reconstruction of property d a m aged by earthquake, etc.--------------------91,675.00 For financing sale of agricultural surpluses in foreign markets--------------------------T o institutions under sec. 201-d: Commodity Credit Corporation----------Other------------------------------------T o Secretary of Agriculture (Agricultural A d justment Act)------------------------------- 247,534.37 1,095,770.92 2,277,636.78 3,300,000.00 Secured by preferred stock, banks and trust companies.---------------------------------T o State funds for insurance of deposits of public moneys-----------------------------— Preferred stock retirements-Relief disbursements (1932 ac Interest and discount collected.-------------Accrued interest on Series E.244 percent notes--- 70,323.81 74,750.14 1,038,377,266.58 87,300.00 970,085.00 71,237,489. 29 36,529.98 448,451.16 389,521.65 286, 136.35 663,717. 96 217, 562.36 36,800,000.00 Dividends collectedon preferredstock purchased Reimbursable expense collected.----------------Repayments on advancesforcareand preservationofcollatera - - - - - Collections on collateral to rediscounts Collections on collateral purchased.-- Funds ofregionalagriculturalcredit Return of petty cas 300.00 Return ofdepositswith bids for purchase of bonds (self-liquidating projects)-------------------------------------------------------reductions, regional agricultural credit corporations-------- § : Refunds ofexpenses paid-----------------------------------------Funds received from Secretary of Agriculture--------------------Unallocated, pending advices------------------------------------- 130,820.00 13,300,000.00 43,564.64 20,000,000.00 8,980,660.67 Miscellaneous (including amounts credited in error and remit tances not collected)--------------------------------------------1,342,155.02 — $4,144,611, 227.83 Expenditures: Loan disbursements: T o banks and trust companies (including receivers)---------- 1,429,462,826.27 578,887. 41 T o credit unions-----------------------------------T o building and loan associations------------------113,050,554.75 T o insurance companies------------- - - - - - - - - - - - - 87,682,033.52 To Federal land banks---------------------------142, 118,000.00 T o Federal intermediate credit banks------------9,242,342.72 T o joint-stock land banks--------------------------14,948, 119.76 T o livestock credit corporations----------------------12,568,733.05 T o mortgage loan companies-------------------------214,463,410.78 T o regional agricultural credit corporations-----------150,277,860.41 T o other credit corporations---------------5,185,638. 57 T o railroads (including receivers)----------------------------394,094, 258.49 T o processors or distributors for payment of processing taxes-7,333. 69 To Statefunds for insurance ofdeposits ofpublic moneys---5,887,715.88 For self-liquidating projects under sec. 201—a (bonds and notes urchased, par $61,574,700)--------------------------------60,842,423.77 - - - - - - - - *:::. - - - For repair or reconstruction of property damaged by earth quake, etc.-------------------------------------------------- For financingsaleofagriculturalsurplusesinforeignmarkets-- T o institutions under sec. 201—d: Commodity credit corporation--------------------------9thor----------------------------------------------- To drainage, levee,and irrigationdistricts--------------Secured by preferredstock banks and trustcompaniesSecured by preferred stockinsurance compani To Secretaryofagriculture(Agricultural Adjustment Act).I. 2,760,985.88 7,142,728.38 65,671. 729.97 5,771, 180.42 2,413,955, 10 14,358, 100.00 4,375,000.00 3,300,000.00 2,746,203,818.82 299,984, 999.00 314,960, 940.87 Payments ofsubscriptions to capital ofregional agricultural credit corporations---47,300,000.00 Relief disbursements (1932 act) Relief grants (1933 act)-------------------------------------------------------- - - - --- REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION 43 TABLE 11.-Statement ofcash receipts and expenditures ofthe Corporation Feb. 2 1932, to Dec. 31, 1983, inclusive(Corporation's accounts with Treasurer of nited States)—Continued. Expenditures–Continued. Payments of subscriptions to capital of regional agricultural credit corporations (increases)----------------------------------------------------------------------Purchases of capital notes and debentures, banks and trust companies-Purchases of preferred stock, banks and trust companies-------------Payments to Secretary of Agriculture-----------------------Payments to Secretary of the Treasury (for purchase of Stock of Federal h o m loan banks)---------------------------------------------------------------------Payments to Secretary ofthe Treasury (forpurchase ofstock of H o m e Owners' Loan Corporation).--------------------------------------------------------------------Payments to Land Bank Commissioner-------------------Payments to Governor of Farm Credit Administration--------------------Withdrawal by regional agricultural credit corporations offunds held for them----Advances for expenses, regional agricultural credit corporations (under Farm Credit Administration).-----------------------Advances for expenses, Federal Emergency Relief Administration.-----------------Advances for care and preservation of collateral.----------------------- $813,914. 53 Re und of interest overpayments-------------------------------------- 251, 176. 51 Release of cash collateral to rediscounts-------------------------------- 346,007.99 Interest on cash collateral to rediscounts-------Discount rebates and refund of unearned discount--------------------Release of funds held in suspense-------------------------------------Interest on suspended credits, mortgage loans Interest on notes------------------------------------------------------54, Accrued interest on capital notes purchased (banks and trust c o m panies)-------------------------------------------------------------14,367. 13 Accrued interest on bonds and county notes received in connection with relief disbursements (1932 act)--------------------------------------Accrued interest on bonds purchased (self-liquidating projects). Accrued interest on notes purchased loan company)-------Deposits with bids for purchase of bonds (self-liquidating projects)---- 130,820.00 Petty cash funds-----------------------------------------------------Petty cash funds Federal Emergency Relief Administration - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - § § - - - - - - - - - - - - - - - - - - - - - - $10,500,000.00 116,990, 000.00 132,998, 116.67 135,000,000.00 - 75,745,700.00 19,000,000.00 82,600,000.00 40,500,000.00 36,800,000.00 3,408,039.73 201,558.62 - - - Furniture a n d fixtures------------------------------------------------ Expense, general------Expense, loan agency Expense, custodian---------------------------------------Expense, onal agricultural credit corporations Reimbursable expense------------------------------------------------- 1,074,698 Miscellaneous (including refunds and adjustments for amounts credited in error and remittances not collected)------------------------------- 1,263,396.22 - - 4,137,954,951.63 Cash balance at the close of business Dec. 31, 1933------------------ 6,656,275. 70 - - - - - - - - - - - - - - . NotE.—In addition to funds on deposityith the Treasurer ofthe United States, custodian banks held insuspensefunds which amounted to$5,056,007.01 at the closeofbusiness Dec. 31, 1933. TABLE 12.-Statement of condition of the Corporation as of the close of business Dec. 31, 1933 Assets Cash on deposit with Treasurer ofUnited States---------------------------------------Funds held in suspense by custodian banks--Petty cash funds--------------------------Gold------------------------------------------------------------------------------------ $6,656,275.70 5,056,007. 01 9,125.00 78,833,860.73 Allocated for expenses regional agricultural credit corporations (under Farm Credit Administration).----------------------------------------------------------------------- Allocatedfor Federal Emergency ReliefAdministration (1933reliefact) Allº! to Secretary of Treasury"-------------------------------------Id 0.* ----------------- ------------- 5,260,000.00 000,000.00 § § - - Allocated to Land Bank Commissioner------------------------------------------------- ISec.2ofthe Reconstruction Finance Corporation Act,asamended by the FederalHome Loan BankAct providesthat “in ordertoenablethe Secretary of the Treasury to make payments upon stock of Federa Home Loan Banks subscribed forby him in accordance with the Federal Home, Loan Bank Act, the sum of$125,000,000orsomuch thereofas may be necessary forsuch purpose, ishereby allocated and made availableto the SecretaryoftheTreasury out ofthe º ofthe Corporationand/orthe of notes, debentures, bonds, and other obligations issued by the Corporation”. The amount of such stock sub scribedfor by the Secretary ofthe # . is$124,741,000. *Sec. 4-b ofthe Home Owners' Loan Act of 1933, provides that “the Board (Federal Home Loan Bank Board) shall determine the minimum amount ofcapital stock of the Corporation (Home Owners' Loan Corporation) and isauthorized toincreasesuch capitalstockfrom time totime insuchamounts as may be t º : nottoexceedintheaggregate$200,000,000. Suchstockshallbesubscribedforbyt heSecre: tary ofthe Treasury on behalfofthe United States, and payments forsuch subscriptionss be subject to call in whole or in part by the Board and shall be made atsuch timeor timesastheSecretaryofthe Pººl; Treasury deemsadvisable. * * * InordertoenabletheSecretaryoftheTreasurytomake suchpay: mentswhen called,the Reconstruction Finance Corporationis authorized and directed toallocateand make a,andf ilablet otheSecrposet etaryo ftheTreasurythe of$ 0s ,,o 000rot ,orso much,t hg ea rt ei oo fnsawhich s maythe be necessa av ry orsuchpur heamounto fnotes,bsum onds,d eb2 e0 n0t,u0r0e hersucho bli tion Finance Corporation is authorized and empowered under sec.9 of the Reconstruction Finance Corporation Act, as amended, to have outstanding at any time, is hereby increased by such º : asmay be necessary.” The amount ofsuch stocksu s $200,000,000. bed forby the SecretaryoftheTreasury 44 REPORT OF T H E REC ONSTR UCTI ON FI N AN CE CORPORATION TABLE 12.-Statement of condition ofthe Corporation as of the close of business Dec. 31, 1983—Continued ASSETS-Continued anº to Secretary of Agriculture”----------------------------------- $200,000,000.00 Reallocated as capital regional agricultural credit corporations--------------------------------------- 44,500,000 Reallocated to Governor of Farm Credit Adminis tration-------------------------------------------Capital regional agricultural credit corporations Allocated to Governor Farm Credit Administration------------------------------------Loans under sec. 5: Proceeds disbursed (lessrepayments): Banks and trustcompanies'---------------------------------------- 711,424,601.75 Credit unions----------------------------------512,498.21 Building and loan associations------------------ 66,237,420.09 Insurance companies---------------------------- 60,929,566.66 Federal land banks-------------------------------- 142,118,000.00 Joint-stock land banks---------------------------- 14, 141,038.27 Livestock credit corporations---------------------2,424,929.99 Mortgage loan companies-----177,845,334.80 Regional agricultural credit corporations 29,885, 148.26 Other agricultural credit corporations 1,691,300.71 Railroads (including receivers)---337,079,621.89 Processors or distributors for p a y m of ocessing 7,333.69 State funds forinsurance ofdeposits ofpublicmoneys 5,812,965. 74 000.00 000.00 40, 500,000.00 - - - - - - º - - - - - - - - - - - 1,550, 109,760.06 Proceeds not yet disbursed: Banks and trust companies'-----------------------------------Building and loan associations-------------------Insurance companies-----------------------------Federal land banks---------------------------------Joint-stock land banks-----------------------------Livestock credit corporations------------------------ 167,333,774.43 039,539,56 7,145,607.68 24,700,000.00 3,803,753.18 309,297.73 Mortgage loan companies------------------------103,100,882.27 Regional agriculturalcredit corporations 2,633,783.04 Other agricultural credit corporations--77,225.90 Railroads (including receivers)-------------------------13,667,887.45 Processors or distributors for payment of processing taxes-------17,114.14 - 325,828,865.38 Loans and contractsfor self-liquidatingprojects, sec.201—a: Proceeds disbursed (lessrepayments) (by purchase of bonds, certificates, and notes, par $61,514,200)------------------------------------------------ - - - - - - - - - - - - - - - - - - - Proceedsnotyetdisbursed(contracts,bonds,certificates,and notes,par$145,474,750). Loans forrepairorreconstruction ofproperty damaged by earthquake, etc.: §: Proceeds disbursed (lessrepayments)------------------------------Proceeds not yet disbursed.---------------------------------------------- - - 60,781,923.77 145,058,452.94 2,669,310.88 7,689,014. 12 Loans under sec.201-c, forfinancingsale ofagricultural surpluses inforeign markets: Proceeds disbursed (less repayments)----------------------------------------------Proceeds not yet disbursed.---------------------------------------------------------Loans to institutions under sec. 201—d: Proceeds disbursed (less repayments)----------------------------------------------Proceeds not yet disbursed.---------------------------------Loans to drainage, levee, and irrigation districts roceeds disbursed 68,069,502. 69 - 93 10 14 00 Proceeds not yet disbursed Loans secured by preferred stock insuran Loans secured b Pr Pr 6,895,194.01 45,737,814.42 9 not Relief authorizati s Preferred stock banks and trust companies: Purchased (less retirements) Subscriptions authorized------------------------------------------------------------ 132,910,816.67 123,924,983.83 Capital notesand debentures, banks and trustcompanies: Purchased.------------------------------Subscriptions authorized 116,990,000.00 110, 194,400.00 Advances for careand preservation ofcollateral Proceeds disbursed (less repayments)---Proceeds not yet disbursed.----------------- - - Collateralpurchased (costless proceeds ofliquidation) 527,778. 18 57,964.58 1,888,437.64 *Sec. 2 of the Reconstruction Finance Corporation Act as amended made available to the Secretary of Agriculture $200,000,000. Of this amount $135,000,000 was paid to him of which $20,000,000 was returned to the Corporation. Of the $85,000,000 difference $44,500,000was reallocated and disbursed as capital of the regional agricultural credit corporations (sec.201 (e),Emergency. Reliefand Construction Act of 1932). The remainder, $40,500,000, was made available and has been paid to the Governor of the Farm Credit Administration, pursuant tothe provisionsofsec.5(a)(1) ofthe Farm Credit Act of1933. *Loans under sec.5ofthe Reconstruction Finance Corporation Act toaidinthe reorganizationor liqui dation ofclosed banks have been authorized in the aggregate amount of$515,369,485.55ofwhich $25,183,692.27 has been canceled. After taking into consideration repayments of $89,296,340.58 items (4) of the balance sheet include the balance of$248,473,705.24representing proceeds disbursed (less repayments) and $152,415, 747.46 representing proceeds not yet disbursed. REPORT OF THE RECONSTRUCTION FINANCE CORPORATION 45. TABLE 12.-Statement of condition of the Corporation as of the close of business Dec. 31, 1983—Continued ASSEts—Continued Accrued interestreceivable-------------------------------------------------------------- Discount on notes, series Feb. 1,1934 Reimbursable expense-------------Furniture and fixtures------------------------------------------------------ $506,931.00 Less allowances for depreciation----------------------------------------- 98,782.21 408, 148.79 - Total------------------------------------------------------------------------------ 4,836,306,860. 53. LLABILITIES A N D CAPITAL Payableon certificateofFederal Emergency ReliefAdministration (1933reliefact)------ $184,837, 332.76 48,995,300.00 Payableto Secretary oftheTreasury"--------------------------------------------- Do."------------------------------------------------------------------------- - -- ɺ. to Land Bank Commissioner--------------------------------------------------- 181,000,000.00 217,400,000.00 Callable by Farm Credit Administration for expenses of regional agricultural credit tions-------------------------------------------------------------------------- Liability for funds held as cash collateral-----------------------------------------------Proceeds not yet disbursed: Loans under sec. 5------------------------------------------------------------------ Loans and contractsforself-liquidatingprojectssec.201-a--------------------------Loans forrepair or reconstruction of property damaged by earthquake, etc.--------Loans under sec. 201—c, forfinancing sale ofagricultural surpluses in foreign markets-Loans to institutions under sec. 201-d--------------Loans to drainage, levee, and irrigation districts------------- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Loans secured by preferredstockbanks and trust companiesRelief authorizations (1932 act)------------------------------------------------Advances for care and preservation of collateral------------------------------------Subscription authorizations: Preferred stock banks and trust companies-------------------------------------Capital notes and debentures banks and trust companies-------Cash receipts not allocated pending advices-----------------------Miscellaneous liabilities (including suspense).--Liability for funds held pending adjustment Unearned discount------------accrued.------------------------------------------------------------------------- Deferred credits, income on collateral purchased.---------------------------------------Notes, series D, E, and series of Feb. 1, 1934-------------------------------------------Capital stock--------------------------------------------------------------------------Surplus Dec. 31, 1933-------------------------------------------------------------------- 1,851,960.27 5,381,830.86 325,828,865.38 145,058,452.94 7,689,014. 12 45,737, 814.42 339,903,393.93 14,456,331.14 1,312,500.00 15,001.00 57,964.58 123,924,983.33 110,194,400.00 1,520,350.88 §,021,251.07 183.89. 345,743.93 637,170.97 47,628.81 4,819,727.98. 70,758. 11 2,530,025,854.04 500,000,000.00 39,173,046. 12 Total.----------------------------------------------------------------------------- 4,836,306,860. 53. !See footnote 1 on p. 43. *See footnote 2 on p. 43. In addition to loans and other authorizations reflected on the statement of condition, the Corporation of preferred stock, capital has approved in principle loans in the amount of$185,671,035.43and : i.º § . ofbanks and trustcompanies intheamount of$327,586,850upon the performance of conditions. Thisstatement ofcondition doesnot take intoconsiderationexpendituresincurred but not paid by the Corporation at the close ofbusiness Dec. 31, 1933, nor income ofregional agricultural credit corporations whose capitalstock was subscribed by the Corporation. O !ºw 17 4: 73D Congress }H O U S E OF REPRESENTATIVES 2d Session ( DOCUMENT No. 399 R E P O R T R E C O N S T R U C T I O N F I N A N C E CORP ORATIO N, F E B R U A R Y 2, 1932, T O M A R C H 31, 1934, INCLUSIVE LE TTE R F R O M T HE C H AI R M A N A N D ACTING SECRETARY OF T H E RECONSTRUCTION FINANCE CORPORATION TRANSMITTING ITS R EP O RT COVE RING ITS OPERATIONS FOR T H E FIRST Q U A R T E R OF 1934 A N D FOR T H E PERIOD F R O M T H E ORGANIZATION O F T H E C O R P O R A T I O N O N F E B R U A R Y 2, 1932, T O M A R C H 31, 1934, INCLUSIVE JUNE 9, 1934.—Referred to the Committee on Banking and Currency and ordered to be printed REconSTRUCTION FINANCE CoRPoRATION, Washington, June 7, 1984. SIR: Pursuant to the provisions ofsection 15 of the Reconstruction Finance Corporation Act, the Corporation has the honor to submit its report coveringits operations for thefirst quarter of 1934, and for the period from the organization of the Corporation on February 2, 1932, to March 31, 1934, inclusive. During the first quarterof 1934, the Corporation authorized, under section 5 ofthe Reconstruction Finance Corporation Act, as amended, 1,292 loans. These loans, together with increases during the quarter in loanspreviously authorized, aggregated $233,034,394.35, as follows: $150,620,756.31 to banks and trust companies (including $125,928, 476.87 to aid in the reorganization or liquidation of banks that are closed or in process of liquidation); $161,606.85 to building and loan associations; $1,642,000 to insurance companies; $34,167,745.56 to mortgage loan companies; $31,500,000 to Federal land banks; $83,894.35 to agricultural credit corporations; $14,154,603.38 (redis counts) toregional agriculturalcredit corporations;$100,000 to alive stock credit corporation; $600,000 to a railroad; and $3,787.90 to processors or distributors who are subject to processing taxes, under section 5 as amended by section 19 (c), title I, of the Agricultural Adiustment Act of 1933. uring the first quarter of 1934, the Corporation,under the Emer gency Relief and Construction Act of 1932, as amended, authorized 19 loans aggregating$52,997,124.63, as follows: Under theprovisions of section 201 (a), title II, a loan of $124.63 (represents increase due toan accounting adjustmenton oneloanpreviouslyauthorized);under the provisionsofsection201 (d),titleII,loans aggregating$52,997,000 2 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION to aid infinancing the carrying and orderly marketing of agricultural commodities and livestock produced in the United States. During thefirstquarterof1934, theCorporation, undersection304, title III, ofthe act approved March 9, 1933, as amended, made 3,358 authorizations, asfollows: Loans secured by preferredstock of banks and trust companies in the amount of$9,463,600; subscriptions for preferred stock of banks and trust companies in the amount of $274,417,600, and purchases of capital notes or debentures of banks and trust companies in the amount of$152,785,400. During thefirst quarterof 1934, under the provisionsofsection 36, titleII, of the Emergency Farm Mortgage Act of 1933, as amended, which authorizes theCorporation to make loans to or forthebenefit of drainage districts, levee districts, levee and drainage districts, irriga tion districts, and similar districts, the Corporation authorized 147 loans aggregating $21,763,254.88. During thefirstquarterof1934, under theprovisionsofsection 1 of the act approved }. 10, 1933, as amended, which authorizes the Corporation to make loans on, or to subscribe for, preferred stock of insurance companies, the Corporation authorized one loan of $7,500,000. Summarizing the above, the Corporation, during the first quarter of 1934, made 4,817 authorizations aggregating $751,961,373.86. Cancelations or withdrawals during the first quarter of 1934, of loans authorized from February 2, 1932, to March 31, 1934, inclusive, aggregated $100,888,387.43. uring the first quarter of 1934, the Corporation under the above acts disbursed $656,712,738.83 and received repayments in the aggre gate amount of $249,134,101.04. The increase in the amount out standing on March 31, 1934, as compared with December 31, 1933, was $407,578,637.79. During the entire period from the organization of the Corporation on February 2, 1932, to March 31, 1934, inclusive, the Corporation authorized,undersection5oftheReconstruction FinanceCorporation Act, as amended, 16,215 separate loans to 8,505 institutions, aggre gating $3,387,270,150.87 as follows: $1,950,740,470.45 to 6,917 banks and trust companies (including$641,297,962.42 to aidin thereorgani zation orliquidation of banks that are closed or in process ofliquida tion); $121,673,119.14 to 1,006 building and loan associations (in cluding$1,135,000 to aidin thereorganization orliquidation ofbuild ingand loan associations that are closed orin process ofliquidation); $102,170,867.51 to 132 insurance companies; $362,479,993.61 to 273 mortgage loan companies; $621,001 to 6 credit unions; $206,018,000 to 12Federal landbanks;$21,103,172.68to24 joint-stockland banks; $9,250,000 to 8 Federal intermediate credit banks; $5,663,379.64 to 20 agricultural credit corporations; $174,826,828.52 (rediscounts) to 12 regionalagricultural creditcorporationsand theirbranches; $14,364, 402.85to20livestockcreditcorporations;$412,445,678to68railroads (including $18,946,708 to 8 railroad receivers and $744,252 to the trustee of a railroad);$25,521.59 to 6 processors or distributors who are subject to processing taxes; and $5,887,715.88 to a State fund createdforthepurposeofinsuringtherepayment ofdepositsofpublic moneys. REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION 3 Under the Emergency Relief and Construction Act of 1932, as amended, the Corporation from July 21, 1932, when the act was approved, to March 31, 1934, inclusive, made 739 authorizations to 306 institutions in the aggregate amount of $1,102,548,542.23 as follows: Under the provisions of section 1, title I, $300,000,000 was made available to 42 States and 2 Territories for purposes of relief and work relief; under the provisions of section 201 (a), title II, as amended, loans or contracts aggregating $230,763,866.13 were a u thorized to 182 institutions for self-liquidating projects (including $10,450,000 to6 institutionsforfinancing the repairor reconstruction ofbuildingsdamaged by earthquake,fire,tornado,orcyclonein 1933); under the provisions of section 201 (c), title II, loans aggregating $52,880,542.80 were authorized to 3 institutions for the purpose of financing sales in foreign markets of agricultural surpluses; and under the provisions ofsection 201 (d), title II,loans aggregating$518,904, 133.30 were authorized to 77 institutions to aid in financing the carrying and orderly marketing of agricultural commodities and live . produced in the United States (including authorizations of . $448,000,000 to the Commodity Credit Corporation). Under the act approved March 9, 1933, as amended, the Corpora tion from March 9, 1933, to March 31, 1934, inclusive, made 5,728 authorizations to 5,675 institutions and individuals, involving 5,190 banks and trust companies, as follows: Loans in the amount of $26,663,100 to 631 institutions and individuals, secured by preferred stock of 142 banks and trust companies; subscriptions for preferred stock of2,506 banks and trust companies in the amount of$530,268, 200; and purchases of capital notes or debentures of 2,538 banks and trust companies in the amount of $376,975,300. Under the Agricultural Adjustment Act of 1933, the Corporation from May 12, 1933, to March 31, 1934, inclusive, authorized a loan of $3,500,000 to the Secretary of Agriculture to acquire cotton. Under the act approved June 10, 1933, as amended, the Corpora tion from June 10, 1933, to March 31, 1934, inclusive, authorized 4 loans in the amount of $11,875,000 secured by preferred stock of insurance companies. Under the Emergency Farm Mortgage Act of 1933, as amended, the Corporation from May 12, 1933, when the act was approved, to March 31, 1934, inclusive, authorized 185 loans in the amount of $32,712,442.92 to or for the benefit of drainage, levee, and irrigation districts. Summarizing the foregoing, the Corporation, during the entire period from February 2, 1932, to March 31, 1934, inclusive, made 22,872 authorizations aggregating $5,471,812,736.02. Of the total amount authorized, $424,367,016.47 was later withdrawn or canceled. At the close of March 31,1934, the Corporation under the above acts had disbursed $3,957,867,747, and repayments amounted to $1,291,753,903.88, leaving $2,666,113,843.12 outstanding on the books of the Corporation. In addition, the Corporation had outstanding on March 31, 1934, agreements tomake loans,subscribe forpreferred stock,and purchase capital notes or debentures, totaling $313,156,139.95, upon the per formance of specified conditions. - Under section84 of theFarm CreditAct of 1933, with the approval of the Governor of the Farm Credit Administration, the Corporation 4 REPORT OF T H E RECONSTRUCTION F IN AN C E CORPORATION in M a r c h authorized the reduction of the capital of five regional agriculturalcredit corporations, asfollows: The Regional Agricultural Credit Corporation of Albany, N.Y., from $1,150,000 to $1,050,000; of Baltimore, Md., from $400,000 to $250,000; of Jackson, Miss. from $925,000 to $500,000; of Raleigh, N.C., from $925,000 to $525,000; and ofSt. Louis,Mo., from $300,000 to sá00,000. During March the Corporation, with the approval of the Governor of the Farm Credit Administration, authorized an increase in the capital of one regional agricultural credit corporation, as follows: The Regional Agricultural Credit Corporation of Minneapolis, Minn., from $8,500,000 to $10,000,000. In accordance with the provisions ofsection 2 ofthe Reconstruction Finance Corporation Act, as amended by section 6 (f) of the Federal Home Loan Bank Act, and pursuant to the request of the Secretary of the Treasury, the Corporation, during the first quarter of 1934, paid $3,900,000 to the Secretary of the Treasury for the purpose of making payments upon stock of Federal home loanbankssubscribed for by him. This made a total of $79,645,700 paid to the Secretary of the Treasury for this purpose to the close of March 31, 1934. Under section 4 (b) of the Home Owners' Loan Act of 1933, the Corporation during the first quarter of 1934, paid $40,000,000 to the Secretary of the Treasury for the purpose of making payments upon stock of the Home Owners' Loan Corporation . . for by him. Thismade a total of$59,000,000 paid to theSecretaryoftheTreasury for this purpose through March 31, 1934. Under section 2 (a) and section 6 of the Federal Emergency Relief Act of 1933, upon certification of the Federal Emergency Relief Administrator, the Corporation during the first quarter of 1934, made payments to States aggregating $171,725,612.13, making a total of$486,686,553 so paid through March 31, 1934. Section 3 of the Federal Farm Mortgage Corporation Act, approved January 31, 1934, provides thatsuch Corporation shall have acapital of$200,000,000, and provides further: For the purpose ofsuch capital subscription,the funds and proceedsthereofmade available to the Land Bank Commissioner under section 32 of the Emergency Farm Mortgage Act of 1933 and the mortgages taken by the Commissioner and the credit instruments secured thereby are hereby transferred to the Corporation As of March 31, 1934, the Corporation had the entire. #. $200,000,000 made available under section 32 of the Emergency Farm Mortgage Act of 1933. Of thisamount, $55,000,000 was paid during the first quarter of 1934, to the Federal Farm Mortgage 8 . under the act above quoted, and the remaining $145,000,000 was paid to the Land Bank Commissioner (formerly the Farm Loan C o m missioner) for direct loans to farmers. Of the latter amount, $65,000,000 was paid during the first quarter of 1934. During the first quarter of 1934, the corporation authorized an increase in the authorized amount of its notes of series D from $2,800,000,000 to $3,500,000,000, the additional $700,000,000 of such notes to be issued as notes of series D-3 and/or series D-4. The corporation, also, authorized the issuance of $250,000,000 series F 2 percent notes maturing January 10, 1935; $250,000,000 series G 3 percentnotesmaturing June 10, 1936, tobesold toinstitutionsfrom which the corporation has purchased preferred stock, capital notes, REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION 5 or debentures; and an additional $50,000,000 of “series of February 1,1934”, notes. During the first quarter of 1934, the corporation sold $345,000,000 series D-3 notes, and $245,000,000 series D-4 notes, # . $590,000,000, to the Secretary of the Treasury; $51,422,000 series notes; $64,093,000 series F notes; and $10,000,000 series G notes to institutionsfrom which the corporation haspurchased preferredstock, capital notes, or debentures. In January, $52,849,273.45 of “series of February 1, 1934”, notes weresold, for which thecorporation receivedgold. During February the corporation's holdings of gold were transferred to the Treasury. All notes of “series of February 1,1934”, for which gold was received that were presented for payment were paid. As of March 31, 1934, there were outstanding $3,166,816,311.99 of the corporation's notes (including $1,645.32 of“series of February 1, 1934”, notes which had not been presented for payment), as follows: Series D-1-------------------------------------------- $475,000, 000. 00 Series D-2-------------------------------------------- 1,290,000, 000. 00 Series D-3-------------------------------------------575,000,000. 00 Series D-4-------------------------------------------600,000, 000.00" “Series Feb. 1, 1934”---------------------------------Series E----------------------------------------------Series F----------------------------------------------Series G---------------------------------------------- 1,645. 32 152, 721, 666.67 64,093, 000.00 10,000,000.00 Total------------------------------------------- 3, 166, 816, 311.99 The following tables are attached hereto: Table 1. Aggregate authorizations, disbursements, repayments, and amounts outstanding by classes, during the first quarter of 1934, and from February 2, 1932,to March 31, 1934, inclusive. Table 2. Number of new borrowers to which authorizations were made, by States, during the first quarter of 1934. Table 3. Number of authorizations, by States, during the first quarter of 1934. Table 4. Number of borrowers to which authorizations were made, by States, February 2, 1932, to March 31, 1934, inclusive. Table 5. Number of authorizations, by States, February 2, 1932, to March 31, 1934, inclusive. Table 6. Amount of authorizations, disbursements, repayments, and amounts outstanding from February 2, 1932, to March 31, 1934, inclusive, by months and classes. Table 7. Number of borrowers and amounts of loans authorized under section 5 ofthe Reconstruction Finance Corporation Act, as amended February 2, 1932, to March 31, 1934, inclusive, by size of cities or towns. Table 8. Names and compensation of directors, officers, and employees of the Reconstruction Finance receivingfrom the Corporation more than $400 per month, as of March 31, 1934. Table 9. Statement of cash receipts and expenditures during the first quarter of 1934 (Corporation's accounts with Treasurer of United States). Table 10. Statement of condition of the Corporation as of the close of business March 31, 1934. º Respectfully, JEsse H. JonEs, Chairman. RoNALD H. ALLEN, Acting Secretary. 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I Rs h la on de - ---- O r e 6 g o n ----- T 4 3 1 5 o 6 2 10 t a l . , 0 7 4 0 3 5 1 1 0 7 6 86 1 3 - of b s p on f a l T n h w to t i r 1 u r e o b s a t h p e r c f o n h m i e r a t e i r o b v u s p r i w k c n t e z r d i w n e o r s k d h n t . s t n of s c r a b p d or i on le o u n r a p b m t r s e u p h m n c f e u t a o h i r b c s n a t r e s k u i c n b d r n e a h c r t s e k l , d p a q d w t l nr b i as u o n e t o r a h c r e s o a e r i t m d w n e u i w z e n r c s g . h dq d p a w t nr b i as l u o n t e r a h r c e s o a e t i r m d w i n e u z w n r e c s g . r h dq d p a w t as l n b u r o a u e t o r a h r c e o a e i t r n d w i a e n s w z r e m n s u g . c d s h b n d t q i as w a l p o u r n r t o e a h e r c s a o r e i m t w d n u e w i z c e r s n g r h . s d n b d t q as l w a p u o r a u r o t e a h e r c a o e i n r t w d a i e w n s z m e r u s n g c . s d h r h n b d f t of q as l w a p u e o a r s u t a e d r c o h m i u r a o e s i v c b r t w n d a i t e w n s z o e m r n g u s d c . h n b d t q as l w a p u o a r u t r e a h c r a o e i r t w n d a i e w n s z m e r n g u s c . d h h b d f t n r T q 1 w c a l 3 De * o u s h m t 9 i a e d r c p h o m u i e r l a 3 s v c o b n i t s d i n 4 t e z o n m 3 e d l s , t r g h s . y d of h b d f t n r T q 1 w c a l 4 De 7. o u s h m t o 9 i a e d r c p o h m u i e l a 3 r s v c o b n i s t d i n 4 t e o z n m 3 e d l s , t r g h s . y d * D t f q 1 of l 9 a d w c r T h n b u o e s i 9 o t m h e a d r p c h u o m i r 3 a l e s i r 3 e n v c o b t s 4 d i n e t z o 3 m t , s e l d g h n r d y . s * h of b d f t n r T q 1 w c a l 2 De * o u s h m t o 9 i a e d r c p o h m u i e l a 3 r s v b e c o n r 3 i s d t 4 i e n z o e n m 3 d l s , t r h g s . y d of h b d f t n r q T 1 w c a l 6 De * o u s h m t o i 9 a e d r c o h m u p i e l a r 3 s v b e c o r n i 3 t s d i n 4 e z o e n m 3 d l s t , r h g s . y d of D t f q 1 of l 7 a d w c r T h n b e u o i 9 t m s h e c a d r h p u o m i r 3 a l e s i n v c o b t s 4 n i d e t z 3 o n m g t , s e h l d r y . 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Ë | | | | |c # |35u { | g# | | |5 # # | | 8º # # # € | | ||. §? ? ##3$€ || $| 3I | ## ## · º - • 8 . 8 5 § § S8 . 3 5 ~E 5 E · - s a 1 - ~ t F a # e - - e -È | : t º … c . ? 5 ? > ± < / 3* 5 3 : 3§ § 7: -: 8 Ë -» - Š E -… - E ; -- | - € -” . 2 g s §. § t º total Grand - tº “c - to - º Lhodag To THI. LSNOOTH NOILong GIONVNII NOIIvaodaoo companies insurance of stock preferred on Loans amended: as 1933, 10, June approved act the Under a m e n d e d a s 1 9 3 3 , 9 , - districts irrigation and levee, Drainage, amended: as 1933 of Act Mortgage Farm Emergency the Under M a r . a p p r o v e d a c t t h e U n d e r - - > * | 3 : 3 3" : ? "| Æ g E| 5 Â8 § |E È || 3' E 5 £ 5 5 § 3 e …asm e| d as ± #n d".?e? º § ±£ | 5 +| # § § » º # | | „ | | ||| || 5 5 Ë º R5 # ºg € ?. | 7 8 3 |g T 3? # | | | .? Ë? E E| … | . …- II title (d) 201 livestock,sec. and ties co mmo di agricultural of Financing amended: as 1932, of Act struction C o n and Relief Emergency the Under a m e n d e d a s A c t , C o r p o r a t i o n F i n a n c e R e c o n s t r u c t i o n t h e o f 5 s e c . U n d e r S t a t e Y º .1. º º M N ; * n i h l t o r1 o a Co6 N - - - - - -- -- -- -- -- -- -a - -i - -n - a a - -v h - -l t y t a o s r10 m k n3 5 a o1 o n 2 5 h e N-1 a D -P 3 1 | - l n o - k59 g - O34 e r529 o420 O i h-2 a n i h l t o u r o a h t t o u 5 k a 4 5 o 9 2 S S a C 2 8 D e e s s e n 7 9 n 2 0 e 1 T - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 8 1 3 9 1 5 8 7 3 1 9 48 9 1 2 2 4 5 6 8 2 22 2 6 1 2 - | . 7 l 1 a 7 8 t 9 , o 9 4 T g . n s n i r e o d ; e d i s r v u e t n i o c l a e i c c f a c n o e f r l m o i A . 1 t y d . l n e d e o z e i t r r i d t s g e r e e h n s c l n o t b i , u s n , m p i r t h n c 3 m 4 s d i o s e m a r t e t e u 3 3 r u e u h r a u o h o h f f 9 f 9 i o t n f d T r o 1 b h w c t f q d l o 1 f a D * t d g e h n z c , . i i r u r g d r e e m n e o s t t s i c h n r r s r t e a a a n r h u s o u q p a w d q i t l a º y d s . l n e d e o z e i t r i r d t s g e r e e h n s , c l n o t b i s s , , n e m u i p h t r n c 3 4 m v r s o d m e t t e e u a s 3 3 r u . r a h o e h f h o u 9 f 9 3 i n f t b d T r h o 1 w c t f q l a d o 1 2 t f d g e h n z c , . i i u r r g g d r e e m n n e o s t t s e i i c h n r r r r e t a e a e n r h o u u s f q p a d w l t q i d a o y d s . l e n d e o z e t i r i d t s e g r e h n e , c s n l t o i s e s m n , e u p i r h t n c 4 3 v r r s o d e m e t t u s a u 3 r a u r e e h o u h o f 9 i n f t h b d T r c q o 1 w l 3 a d t f D * dd g e e h n z z c . , i i r u g d r r e m n e o o s t s e i c h h n r n a r r e t t a n e u r h o e u o s f q p a d l w t i o l a b º y d s . l n e d e o z e i t r i r d t s g e r e h n s , c n l o t b s i s e m n , u e i p h r t c n m 3 4 v s o d e r m t t a e u s 3 r u a r e e h o o h u f 9 i n f t h b d T r o 1 w c l a d t f q 6 dd g e h e n z z c . , i i u r r g g d r r e e m n n e o o s t t s e i c i h h n r r r r e t t a e a n e r h u o s u f q p a d w l t q i d o a ydd . le e d ez z e t r i r i d g e g r r e h n l n n o o t i d , , e i p i r h h t r c n n 3 3 4 d r s m r e a t t i e u s a 3 3 r n o u u h h e f 9 o f 9 o i c o 1 w d t q l a o 1 d t f q l a D * r dn s g e hd o n z c . , e i r i r r u t s g g d r e e e m s c n n e o s t t b i s s e e n u i i m c h n r r c m e a v d r r o t e t e a a s u h a e n e r r o u o s h f u q d p a l w i t o a d f n b T r h q y d s . l n e d e o z e i t i r d g t s e g r h n e s , c l n o t i s m s , e n u e p i h r t c n 3 4 v o d r s r e t m t e u s a u 3 r r a e h o e o u h 9 f i n f t h b d r T o 1 w c l a d t f q 4 D . 7 dd g e e h n z z c . , i i r u r g g d r r e e m n n e o o s t s t s e i i c h h r n n r a r r e t t e a a e n r h e u o s o u f q p a d l w i t d o l b a q y d . l e n d e o z e i t r i r d g t s e g r e n s c l n o t d b i s m n , u p i h r t c n 3 4 m o i s d s m r e t t a e i s 3 r u r e a o h o h u f f 9 i o f t n b d T r h o 1 w c a d t q l D * f dd g e e h n z z c , . i i r r u g g d r r e e m n e n o o s t t s i c i h h n r r s a r r e t t e a a n r h o s u u p a d w l t q i d a q yd s . l n d ee o z e ti i r r d g t s e g r h e n e s c , l n o t t i s s , m e n u , p i h r t r c n 3 4 v s o d t m e r e t a u a s 3 u 3 r r a h o u h u e 9 f o f 9 i n f t T r h b d c q 1 o w d t f l 9 a D * q 1 o d g e h n z c . , i i r u r g d r e e m n e o t s t s e i c h r n r a r r t e a a e n r u o h s u f q p a d l w t q i a o b y d s . l e n d e o z e i t i r d g t s e g r e h n e n s , c l n t o i s s i m e , u n p i r h t c n 3 4 v o r s r d e t m e a t u e s 3 r a u e r h o e h o u h f 9 i 9 t d f h n b T r w c d t f q o 1 l 7 a D 1 t dd g e e h n z z c , . r i i u r g g r d r e e m n n e o o s s t b e s i i c h h n n r m a r r t t e e a e n u s h o o r f u t l w d n o l a d i p a q y . ld e d e z e t r i r g d d g e e r h n n n l t o t i , i , e o i p h t r c n 3 3 4 d r s r c m r a e t e u s a 3 3 r n e o u h u h o e f 9 f 9 i c o 1 w s q f o 1 d t l a D 1 f t r dn s g e hd n o z c , . e i r i i u r r t s g d r e e m e s c e n o s t t b i s e e u m n c i h n r r c m v d o r t e e t a a s h n a e o e r r h o u u s f q T p a r d i w t l o a h b d f n q WI i i n c l u s i v e 1 9 3 4 , 3 1 , M a r . t o 1 9 3 2 , 2 , F e b . S t a t e s , b y m a d e , w e r e a u t h o r i z a t i o n s w h i c h t o b o r r o w e r s o f 4 . – N u m b e r T A B L E · & 3 T a … - | 8 # š s • - - - - 8 £ - - - - - - - : º s ± - - 8 • ! &+ - | - - - - a v ', 3 | - „ 4 - q ? . & ö > 5 | e a g 3 g? 5 å # 3?5 g§ & .3 -§ | & g b3 å 3 5 5 º | | :| || E| | # #€ e l *| #Ë s | ##3 | º :& š | a .# ? €# „ 3 || | 3+| # + # | || S# #~ # $ **| # # 5? 5 • T # | ? & | # o| # Ë| | ȧ 8 f| 5 * ;§ | | } Ë S 5 , º º $p £ 8 || | | | | 5 $_ # # a 3 3 3 # E5 |§ || | | | | e } * -È 5 5} 3 | | | | -| & ¿ ¡ | | | | | -| | | § g f }C • | | | | |o } # f •} p % | | £| r #ä  t} a | | |e : 5 q º Ë 8 . • | -| # 5} || g} º | :| E E# | £| $ 4 7 6 5 5 2 2 3 3 4 4 6 6 9 9 9 1 1 1 1 5 5 5 8 0 3 1 1 #1 1 4 1 84 5 22 3 1 3 7 7 5 5 6 1 9 5 2 5 9 5 2 5 1 1 4 7 8 8 2 9 2 4 8 1 7 5 6 2 3 7 2 1 1 7 5 6 5 3 1 1 # # 7 3 1 9 9 2 3 0 5 7 5 1 7 8 # ;06 6 # IHO TH IO THI, ISNOOTH NOILong goNVNIH NOILvgoda.00 a m e n d e d a s A c t , C o r p o r a t i o n F i n a n c e R e c o n s t r u c t i o n t h e o f 5 s e c . 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J o p u ò q u a e s ø o u o o a e 15 T9 d e u n i t n o C e v i s u l c n i , 4 3 9 1 , 1 3 . r a M o t , 8 8 9 1 , 2 . b e F , s e t a t S y b , e d a m e r e w s n o i t a z i r o h t u a h c i h w o t s r e w o r r o b f o r e b m u N — . 4 e l b a T … . … … - . º … ± #?€ = 3 s º š || ë s º º 5 S £ g 3 # | & ? ? 5 • • • • 3 ’ B £ 5 ' & ' ? 1 C E • • ; || *- a $ 3 £ ä È d e d n e m a Ë - | · ~ - - ~ - * - … * - - - - - • • • • • - - - - - - £ 5 $ $ | § £ & & | #: ± 5 5 ^R3 „ - - - - - - £ ? &7 s 5 < •£ - Ë3 ¥ 5 ± £ 5 ± | € E u º c š ºa av > - P P º e e a t 3 . - o r : º - 2 6 5 1 1 1 5 2 8 4 1 2 - - - - -- -- - - - - - - - - - - 2 - 8 - - - - 2 1 - - - 1 - - - - - - - 2 - - 0 - - - - - | | | | | I I | 61 1 1 1 4 2 8 8 2 5 u i s i a n a 1 85 y * * / a d t u c 1 # | ä | k - ã # | # | - - .m c º5 . : E• º -: … -: ~ ~ : ~ . ~ | - ~ º; -º -5 - |! - 2E T 2E : 5 -± ± - º e: - a: - 7 º ‘c F #|š | ?–5 5% Ë ||5|3|$ .ë-E § 5 3 | &º | s fš ## Š f º ¿ šE ¡ f || f || | # | ¿ # ¡º | || | #5 # | º## # Ë | ? fi, ? ||#| # # Ë # # |š 2 | | Ëš3 $$ Ëä ||g 3 | |# g## £3 E ||# 3 5| | } # 3# } = # } " | |||5 | | ; g7 # |||| | # # 2 4 - - - - - - - - - - - - - - - - - - 1 1 - - 32- 1 11 - 1 4 - I 7 | 2 54 2 1 1 -1 - -1 1 - - 02 -1 -1 - - - -3 - 1 - -- | -- -6-| |- - - - 1-- -- - - -- -- - -1-- -- 1 - -- -- - |1 |- a - -| 4 -- n -y - --| |- - -- i --e- ---l -- s-- -- -o -- -- -r r --- --- k -a aet e r r oi h ko s i co a p m x CDa e Y h o H M J h t t i w w ww r r e e ee o oh N N NN N N O - - 5 2 - 1 - 1 - 5 1 1 - 1 - 4 | | 8 1 6 2 5 9 * 2 agaoaL og LHA haooNsIgnoL.1oN 41nvnoH oohdouvLroN # 5 < $ $ $ , 3 3 9 1 , 9 . r a M d e v o r p p a t c a es h t ra e d n d U |e t c A nd o i t cn u r t s n e o C dm n a f e a i l s e a R y32, c 9 n 1 e f g o r e m E e h t r e d n U e t a t S n eo KL O l k h a I 2 m o 40 ----- - T e n e s e.. --- S C a o r 2 o u li t n a h -Da o k 1 o u t1a th 7 P e n 4. 2 s y l 2 v a n 6 i a R s I l n a d h 2 o -d -e - S 2 r 47 t º o n . --- ------- A 59 13999 5735221 1. 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Ë# 5 8 • a 3 : „ < e E º§ 8 # j d. 5 : 3 | u … » £ . „ º d … £ . 5 €8 o$ 8 Q ± &. £5 5 Ë@ 5 5 & ?- 5 • $ 5. 3| £| | || | 3 5|• | § & ;| E # § §# $. 3$ @$ 1 $S # š } 5 €3 . |3 |$ 55 # ; | 2 3 ®a E © £ 8. c · 5 ~ ; . ? * £ š $ : .: - 5 3 º E º E : c : # 3È S "- t a t e 5 2 6 1 0 6 , 5 3 4 3 8 3 6 5 4 7 7 0 7 7 1 0 3 6 1 2 1 5 7 0 2 3 1 , | | | 4 5 - 7 2 - 9 0 | | - 2 - 3 3 - 5 3 - 1 - 1 6 8 3 - 1 1 1 4 8 1 3 2 3 9 3 5 1 0 2 6 1 7 2 8 4 1 2 3 1 6 0 | 7 8 7 8 9 8 4 8 2 6 7 4 3 1 2 4 3 8 8 6 4 2 6 9 8 2 4 1 2 4 1 0 1 5 4 1 4 | 1 0 8 9 7 3 5 3 | 4 2 2 5 1 8 I | - 7 - 2 - 9 - 2 3 9 5 3 1 2 7 3 GIONWINIJI N O IL V º I Od i s h oo ! 1 6 8 9 2 | 7 - 8 - 9 | - 3 5 0 - 0 8 - 4 2 7 3 0 0 5 5 2 1 8 5 5 4 m o a e r o w i t w a r a e s t r u ð Z . 1 8 " t . e s o n o u n o o * e i q e n j o p u ò REPORT OF THE RECONSTRUCTION FINANCE CORPORATION p u u t s i º p o r t a e r 19 0% i n c l u s i v e – C o n t i n u e d 1 9 3 4 , 3 1 , M a r . t o 1 9 8 2 , 2 , F e b . S t a t e s , b y a u t h o r i z a t i o n s , o f 5 . — N u m b e r T a b l e · 1 • 9 • 3 3 , - | a* j •t . » ;q } a 3 e s # 5 # ## > <* e º - ~ c ae :~ •: • a= t # × * * * ± 3 5 p º . § § | . : : : : : < > : - - - - º | ~ E : E ~ 3 0 5 1 1 1 2 1 1 7 2 1 2 3 1 1 2 7 1 1 6 5 5 3 | 4 0 1 3 1 2 2 3 9 | | - - - - - - - - - - 2 5 1 3 9 8 3 0 8 3 2 2 3 1 1 2 6 HO G I H L NOILO lº.J.SNOOGI *I | E .? 3 ?| c s 3 2 | § |3 §| # g § š§ # $3 g# § ## # f . * c : t a e ± - : · > … > < / * c ~ ~ w a e S . . ' 3 8 §š g º 1$ 4 º§ || ’| || | | º -§ E $$| 8 c |s $ g | | :º| |? | ?# |§ Ï2# $ * |#| ë 33 £ |#|# t ||, | | #| 5 |? v g °§ $ ??Ë 3 || a || | ||# 5 } | # º| —$ ^ ± # | £ # | || !|| ## $# e + º 1 - .T| || |5 || | : ~ Ë = + ¢ $E | _ | Ë # || ||§ 3 | Þ § .3 | Þ ±# $ | || | §§ §.3ea §£z Þ § 2 # 5š aš# °# £š ? Ëš# 5# # | }} :| / | § ?# $€ [ # T § $ Ê §? $ × JºiOdiºIºH a m e n d e # £ d § d o # # # # # # # a s 1 9 3 2 , o f s a d e 9 , M3 a r . a p p r o v e d a a c t t h m e U n e d e r n | A c d t C o n s t r u c t i o n a n d R e l i e f E m e r g e n c y t h e U n d e r a t e # | 8 5 2 0 | 1 1 7 1 1 1 1 1 1 2 7 ! 1 0 4 3 0 | 1 1 - - 1 ! 1 2 2 5 1 4 - 1 1 1 6 0 - - - - - 1 9 3 8 0 3 5 1 2 6 | 1 - 6 - 2 4 7 - 4 5 2 5 1 8 2 4 2 5 1 2 2 1 1 7 8 5 4 - 2 3 8 - - - - - f t ) 1 0 3 GIONWINIEI O O |NOIJ.VºIOdi h | 4 3 2 5 - - - - - - - - 2 0 |J -e -r -s -e -y --1 3Hampshire31 6 | 41 0 9 1 8 | - M e x i c o 5 9 Y o r k 5 2 0 1 1 8 0 C a r o l i n a 5 1 4 4 1 2 4 D a k o t a 1 1 1 2 3 1 7 NN oo NNNNr r eeeet t wwwwh h - - - - - - - - - - u s u o o s a e º s u o a q ø 0 a u s o p n o u ! : s ø o g g o u p e u m j o u o p e o o i o q º u p p u o o o v i t w o : s a o t o , s e º c º c c 6 I u u p 9 o u o o n t o p k º o z u u o o q ‘ n o n p e e u u u b o o , l “ I e p r u g r º e x e { u e n m b I q n û o r p g u º & y J q o p K e r u e q u ø r r e o p º s s º e q u q p o n n p q º j z o u u o o q q o n n e u u s e u o o o º I u o p u n o i o u u q e d n o o u u a o q n p º s u º n e o n u s v “ I& u º aq u s s o ø j sn s o un u u º b º o jg l , p ø e pl i u s e º un p ºº n p ºø o t u rJ I øL • y • º r g u e s n o r I : I “ s e s u e x t : 9 e p u r o j REPORT of THE REconSTRUCTION FINANCE CORPORATION - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - t i p u u A \ s ø M a - - - - - - u o q u s e A A 21 22 REPORT OF T H E RECONSTRUCTION FI NA NC E CORPORATION TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts outstandingfrom Feb. 2, 1932, to Mar. 31, 1934, inclusive, by months and classes G R A N D TOTAL Amount out Amo unt izedauthor- M ont h Am oun t disbursed Amountrepaid standing; ih ne .'; t period 1932 February----------------------March-- December---------------------- $91,601,057.00 142,333,075.06 228,771,667.33 199,450,025. 39 388,254, 246.63 170,934,728.59 189,068, 106.31 138,480,782.93 162,373,944.36 96,598,980.32 128,510,058. $70,868,417. 52 121,477,890.49 155,543,323.23 158,983, 559. 12 298,276,816.59 171, 149,931.86 146, 180,913.71 72, 120,713.91 137,623,749.68 61,020, 558.96 131, 501,263.75 $18,845.00 8,873, 883.30 7,009,080.50 16,440,727. 23 48,684,900. 92 34,615, 181.07 35,232,968.30 44,903, 158.06 47,565,316.28 27, 180,977.04 29,423,415.68 $70,849, 572. 52 112,604,007. IQ 148, 534,242.73 142,542,831. 89 249,591,915.67 136,534,750.79 110,947, 945.41 27,217, 555.85 90,058,433.40 33,839, 581.92 102,077,848. 07 Total.-------------------- 1,936,376,672.57 1,524, 747,138.82 299,948,453. 38 1,224,798,685. 44 142,844,447.43 283, 171,473.85 217, 732,207.45 1162,528,594.61 *141,981,250. 47 * 154,047,880.32 201,024,785.36 157,792,381.18 *44,384,443.05 *519,638,597.97 1377,816,224.85 -480,512,403.05 117,995, 293,92 199,499,330.83 179, 533,134.72 117,500,398.87 195,805,854.81 123,677, 183.75 115,339,396.98 83, 128,537.43 39,271.516.79 48, 646,412.75 186,473,215.08 360, 537,593.42 32,452,828.29 •35,971,603. 16 55,813,566.83 40,213,996.05 •46,800,209.06 *94,656,029.32 113,000, 506.08 *73,535, 212.46 *61,734,251.55 *69,713,276.45 *51,203,256.33 *67,576,613.88 85,542,465.63 *163,527,727.67 123,719, 567.89 77,286,402.82 *149.005, 645.75 *29,021, 154.43 2,338,890.90 *9,593,324.97 *22,462,734.76 *21,066,863.70 *135,269,958. 75 *301,960,979.54 2,783,474,689.59 1,776,407, 869.35 742,671,349.46 1,033,736,519.89 410,906,772.72 134,747,798.01 206, 306,803. 13 343,781,651. 19 188,228,573.21 174,702,514.43 86,332,036.91 82,759, 170.91 80,042,893. 22 257,449,614.28 55,469,402.30 94,659, 621.21 April-- - - - - - - - - - - - - - - - - Total, first quarter------- 751,961,373.86 656, 712,738.83 Grand total.-------------- 5,471,812,736.02 3,957,867, 747.CO 249, 134, 101.04 1,201,753,903,ss 407,578,637.79 x 2,666, 113,843. 12 T o T A L S E C T I O N 5, R E C O N S T R U C T I O N F I N A N C E C O R P O R A T I O N A C T, A S A M E N D E D $91,601,057.00 142,333,075.06 228,771,667.33 199,450,025. 39 388,254,246.63 167,934,728.59 125, 136,437.31 65,352,280.71 59,371,561.73 73,659,796.72 81,467,467.97 $70,868,417. 52 121.477,890.49 155,543,323.23 158,983, 559. 12 298,276,816.59 171,149,931.86 142,233,029.71 61,909,014. 16 120,353,360. 16 39,367,417.87 87,440,361.93 $18,845.00 8,873,883.30 7,009,080. 50 16,440,727.23 48,684,900.92 34,615, 181.07 35,232,968.30 44,903, 158.06 47,563,281.73 27, 177,436.04 29,313,534.28 $70,849,572.52 112,604,007. 19 148,534,242.73 142, 542,831.89 249,591, 915.67 136,534,750.79 107,000, 061.41 17,005,856. 10 72,790,078.43 12, 189,981. 58,126,827.65 1,623,332,344.44 1,427,603, 122.64 299,832,996.43 1,127,770, 126.21 84,182, 129. 23 200,735,830.65 155,329,303.10 100,727,623.93 111,284,726.83 75,183,421.58 159,688, 523.62 122,840,052.22 62,758,894.98 135,626,841.22 99, 193,850.52 95,895,674.09 69,438,406.13 25,086,394.18 37,194,685.39 105,441,763.45 168,594, 158.96 120,001,798.76 133,113,288. 14 *50,602,085.60 *37,976,943.05 *234,808,928.52 *134,413,724.85 * 158,727,029.42 1,530,903,412.08 || 1,156,942,666.34 See footnotes at end of table. 32,308,547.15 42,874,874.43 *35,910,843.56 $123,777,680.06 55,687,000. 79 67, 153,051.43 40, 103,725.68 22,655, 169.30 *46,258,651.69 *89,368, 189.53 *94,303,490. 41 *4,890,360.11 112,822,773.08 * 16,927,098.99 172,799, 529.39 ** 3,361, 123.26 *61,116,379.75 | **36,029,985.57 69,532,550.94 | **32,337,865. 55 *50,016,616.06 *55,425, 147.39 *63,732,962.65 * 104,861,196.31 734,593,071.15 422,349,595. 19 REPORT of THE RECONSTRUCTION FINANCE corporation 23 TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts outstandingfrom Feb. 2, 1932, to Mar. 31, 1934, inclusive, by months and classes— Continued. TOTAL S E C T I O N S 5, R E C O N S T R U C T I O N F I N A N C E C O R P O R A T I O N A C T , A S A M E ND ED–Co ntinu ed Amount M on th A m o u n t authorized 1 A m o u n t disbursed Amount repaid out standing; i n . . . the period 1934 $94,855,377.32 51,887,640.65 86,291,376.38 Total, first quarter------- $119,658,387.83 51,266,401.56 17,583,575.76 233,034,394.35 188,508,365.15 Grand total.-------------- 3,387,270,150.87 2,773,054, 154.13 $85,084,821.71 74,619,747. 51 69,244,051.97 $34,573,566. 12 323,353,345.95 * 51,660,476.21 228,948,621.19 * 40,440,256.04 1,263,374,688.77 | 1,509,679,465.36 P A N I E S (I NC L U D I N G R E C E I V E R S , L I Q U I D A T I N G A G E N T S , A N D C ONSERVATORS) January-----------------------February. $44,625,300.00 108,751, 135.06 152, 103,931.93 113, 117,970.34 219,786,560.56 97,265,633.42 87,776,078. 12 29,951,680.23 21,802,702.58 23, 249,644.02 51,006, 363.83 $39,546, 160.52 85,870,980.49 112, 153,001.36 108,192,844.29 151,624,949.99 104,166,283.74 77,635,909.68 27,401,650.02 80,746,257.61 20,420,708.99 43, 102,313.33 $18,845.00 7,651,531.30 12,585,480.24 45,346,776.63 28,200,745.53 31,301,194.49 40,413, 591.02 40,317,817. 54 22,466,223.72 21,057,389. 14 $39,527,315.52 78,219,449.19 105,263,222.91 95,607,364.05 106,278,173.36 75,965, 538.21 46,334,715. 19 * 13,011,941.00 40,428,440. 07 *2,045,514.73 22,044,924. 19 949,437.000.09 850,861,060.02 256,249,373.06 594,611,686.96 56, 133,284.40 132,422,465. 58 98, 543,748.61 63,489,853.51 55,456,202.42 38,949,096. 07 100,595,536.74 *33,461,223.34 *21,213,010.53 *103,270,900.08 *38,940,760.33 *108,206, 632.44 43,125,290.40 78, 112,411.70 62,900,655.93 23,914,051.40 87,947,700.34 12,034,738.64 66,053,436.74 52,493, 748.50 15,610,326.79 15,030,459.24 50,296,831.40 71, 174,894.58 26,006, 824.40 *20,684,701.71 40,733,012. 09 28,431,486.93 *37,888,316.40 *75,139,370.23 850,682.714.05 578,694,545.66 461,876, 100.42 116,818,445.24 53,065,863.46 41,599,854.78 55,955, 038. 07 52, 170,810.41 38,811,076.75 12,679,248.46 62,973, 149.00 48,991,243.85 45,759,459.76 * 10,802,338.59 * 10,180, 167.10 *33,080,211.30 6,889,778.45 17, 118,466.00 *57,427,709.99 22,167,643.84 * 4,517,435.53 *50,059,383.94 a363, 104,631.59 67,871, 161.59 s 1,817,724.76 135,298, 974.45 * 17, 194,774.05 *27,515,419. 22 | **11,905,092.43 230,763,299.21 1* 15,732,839.97 125,417, 186.99 *24,879, 644.41 246, 126,347.29 *25,048,547. 29 Total, first quarter------- 150,620,756.31 103,661, 135.62 157,723,852.61 *54,062,716.99 G r a n d total.-------------- 1,950,740,470.45 1,533,216,741.30 875,849,326.09 657,367,415.21 B U I L D I N G A N D L O A N ASSOCIATIONS (INCLUDING RECEIVERS) 1932 See footnotes at end of table. $4,879,750.00 19, 106,083.40 13,011,890.00 15,417,200.00 15,314,510.03 12,543,600.00 7,295,705.00 3,750, 500.00 3,391,532.00 4,985,274.32 $2,430, 500.00 -----------------10, 170, 186.68 $58,642.06 19,624,016.39 409,878.87 9,823,631. 19 535,840.65 16,577,471.48 1,205, 474. 10 12, 180,063. 17 1,561,404.87 9,435, 115.28 1,253, 188.31 5,080,954.91 1,376,330. 52 3,830,807.59 1,618,781.05 4,710,367.98 1,596,899.64 $2,430, 500.00 10, 111,544.62 19,214, 137.52 9,287,790. 54 15,371,997.38 10,618,658.30 8, 181,926.97 3,704, 624,39 2,212,026. 54 3, 113,468.34 99,696,044.75 93,863, 114.67 84,246,674.60 9,616,440.07 24 REPORT OF THE RECONSTRUCTION FINANCE CORPORATION TABLE 6–Amount of authorizations, disbursements, repayments, and amounts outstandingfrom Feb. 2, 1932,to Mar. 31, 1934, inclusive, by months and classes— Continued B U I L D I N G A N D L O A N A S S O C I A T I O N S ( I N C L U D I N G RE CE I VE RS )— Co n ti nu ed Amount out Am oun t authorized M on th Am oun t disbursed Amountrepaid standing; i n . . . the period September------------October---November December-------Total.-------------------- $4.294,724.89 2,849,559.28 3,219,307. 24 1,691,000.00 1,841,231.87 1,804, 847.24 266,781.25 892,449.04 281,490. 54 2,096,059.51 443,016.68 2,135,000.00 $3,412,672.47 4,093,224.60 1,697,279.66 2,375,255.24 1,888,968.45 1,741,824.86 724, 147.01 1,114,230.35 321,417.65 272,414.58 1,014, 664. $2,288,507. 52 2,080,445.27 2,606, 799.34 4,017,879. 50 3, 135.193.43 3,436,823.04 2,476,046.91 3,197,886.04 3,133,402.11 4,355,972.33 *3,523,903. 39 2,943,778.21 $1,124, 164.95 2,012,779.33 #909, 519.68 * 1,642,624.26 * 1,246,224.98 * 1,694,998. 18 *1,751,899.90 *2,083,655.69 *2,811,984.46 *3,824,631.41 **3,251,488.81 *1,929, 113.92 21,815,467.54 19, 187,440.08 37, 196,637.09 * 18,009, 197.01 17,606.85 80,000.00 64,000.00 924,203.45 43, 161.85 71,317.92 4,342,210.18 3,310,550. 16 3,769, 793. 16 a3,418,006.73 *3,267,388.31 *3,698,475.24 531, 340. 92 1934 January-----------------------February.March------------------------Total, first quarter------- 161,606.85 1,038,683. 22 11,422. 553.50 * 10,383,870.28 Grand total.-------------- 121,673, 119. 14 114,089,237.97 58,235,630.66 55,853,607.31 $74,400.00 i n S U R A N C E March--------April----------- $7,080,000.00 9,722,000.00 7,543,000.00 39, 120,500.00 3,833,500.00 4,523,700.00 3,370, 500.00 C O M P A N I E S November--December---------------------- 2,151,000.00 4,495, 731.66 $6,635,920.00 4, 141,250.00 8,514, 225.00 26,719,243.83 4,069,749, 49 4,661,210.41 4,691,720.37 1,625,444.01 1,665,828.78 5,313,027.03 Total.-------------------- 83,048,931.66 68,037,618,92 5,588,738.52 62, 448,88.40 1,214,500.00 1,236,500.00 7,328, 131.07 1,624,000.00 1,286,322.94 2,074,381.84 330, 100.00 650,000.00 545,000.00 300,000.00 976, 151.99 407,252. 19 9,514,589.21 1,678,000.00 2,256,149.25 947,098.39 964,476.50 1,238,304.75 535,000.00 453,482.77 158, 118.02 9, 199,358. 28 224,744. 77 1,295,194.23 *3,680. 590.68 •2,075,569.90 218,549.89 : 497,068. 17 * 320,310. 55 *2, 381.32 **3,992,847.75 By----------June.----------- September.-October------ 1, 200,000.00 - 964,884. 50 695,473.62 1,727,995. 92 $6,561, 520.00 4,123,258.63 8, 136, 109.76 26,619, 278.19 3,660,638.45 4,365,200. 72 3,766,928.87 660, 559.51 970, 355. 16 3,585,031. 11 17,991.37 378, 115.24 99,965. 64 40.3,111.04 296,009. 69 924, 791.50 1933 January-----------------------February March--- - April--ay--- June--July---August----September- - - - - - - October.--N o v em b e r ecember---------------------- 350,000.00 355,888.94 389,503.38 522, 669.22 249, 134.17 315,230. 93 1,453,255.23 960,955.02 4,627,689. 07 3,040,046.40 1,019,754.86 1,032,068. 17 702,310.55 2,858,270.26 *4,382,351. 13 17,479,935.85 19,644, 414.60 21, 163,735.01 1,519,320.41 240,000.00 730,000.00 237,425.80 668, 104. 13 672,000.00 719. 100.00 4,897, 331.31 2,873,459.00 3,083,034.89 *4,659, 905.51 *2,205, 354.87 *2,363,934.89 541,000.00 - Total--------------------- Total, first quarter------Grand total 382,000.00 1,642,000.00 1,624,629.93 10,853,825.20 *9.229, 195.27 102, 170,867. 51 89,306,663.45 37,606,298.73 51,700,364.72 See footnotes at end of table. REPORT of THE RECONSTRUCTION FINANCE corpoBATION TABLE 25 6.-Amount of authorizations, disbursements, repayments, and amounts outstandingfrom Feb. 2, 1932, to Mar. 31, 1934, inclusive, by months and classes— Continued M O R T G A G E LOAN COMPANIES A m o u n t authorh ized I M ont h A m o u n t di dis- Amount repaid u rse º standing; in j º: t he period $6,517,000.00 7,360,000.00 2,968,000.00 56,825,000.00 7,119,000.00 1,092,000.00 960,000.00 4,415,000.00 3,805,800.00 2,832,602.61 $1,277,000.00 -----------------7,857,925.08 $38,159.93 209,644.67 5,177,732.43 52,324,954. 74 353,976.95 7,782,289.38 1,550,425.82 3,184,891.92 1,426,741.85 2,951,205.21 1,470,665.63 3,222, 581.36 2,018,482.23 2,023,729.34 1,317,632. 34 2,620,710.93 2,936,546.08 $1,277,000.00 7,819,765.15 4,968,087.76 51,970,977.79 6,231,863.56 1,758, 150.07 1,480, 539.58 1,204,099.13 93,894, 402.61 88,423,020.39 11,322,275.50 77,100.744.89 3,262,000.00 31,658, 133.96 4,808,300.00 1,344,450.00 5,417,458.00 49,405, 143.93 8,319,811.03 5,776,400.00 6,567,630.84 90,716,370.00 * 13,767,638.62 * 13,374, 509.06 4, 127,585.40 32,031,442.60 4,308, 125.25 520,010.92 727,724.48 46,197,567.68 1,432,403.59 7,057,961.93 1,262,939.98 4,155,303.46 5,160,440.27 19,060, 168.51 1,703,231.44 1,683,530. 767,237.17 3,572,569. 70 770,726.77 946,493.45 1,846,684. 17 3,795,422.98 2,307,788.41 24,832,302.50 1,620,207. 40 * 1,446,509.45 2,424,353.96 30,347,911.94 3,540,888.08 33,052, 558.78 343,002.29 45,251,074.23 * 414,280. 3,262, 538.95 *1,044,848.43 a3.676,999.04 3,540,232.87 2 17,613,659.06 234,417.845. 44 126,041,674.07 25,292,704. 10 100,748,969.97 4,204,231.72 3, 169,528.92 26,793,984.92 5,791, 110.00 1,016,365.20 759,553.54 4,697, 433.04 12,642,902. 24 6,502,574.21 1,093,676.96 * 11,626, 537.04 * 5,743,020.67 706,097.00 *315,835.15 Total, first quarter------- 34,167,745. 56 7,567,028.74 23,842,909.49 * 16,275,880.75 Grand total.-------------- 362,479,993.61 222,031,723.20 | 60,457,889.09 161,573,834. 11 CREDIT UNIONS | $350,000.00 55,000.00 $338,437.00 -----------------$3,393.00 275. 00 1,235.00 47.4±0.00 440,098.00 9,555.00 650, 00 3650.00 1,150.00 1,240.00 * 1,150.00 65,506.00 895. 00 * 895. 00 8,838.00 431,260.00 305.00 9,250.00 31,875.00 *2,140.00 * 1,095.00 * 1,150.00 114,950.70 * 1,214.80 1,875.00 2,140.00 1,095.00 1,150.00 545.00 1,214.80 1. 941. 40 - March---- - - - - - - 138,789.41 - - - - - - - - - - - - - - - - - - - Total, first quarter-------|------------------'-----------------Grand total.-------------See footnotes at end of table. 621,001.00 578,887. 41 3 841.83 57,551.20 8,797.31 * 18,594. 53 *11,179.99 * 13,668.65 81,238.21 12,707.44 1,182.22 4,344, 39 *12,707.44 * 1,182.22 *4,344.39 18,234.05 * 18,234.05 84,623.25 494,264. 16 18,594. 53 11,179.99 17,668.65 148,555.00 $338,437.00 25,897.00 5,350.00 a 1,235.00 26 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts outstandingfrom Feb. 2, 1932, to Mar. 31, 1934, inclusive,by months and classes— Continued FEDERAL LA ND A m o u n t authorh || ized 1 M ont h BANKS A m obursed u n t di dis- Amount repaid - * ::: standing; ihe n .::. .:º: t period 1932 July---------------------------- $26,000,000.00 $9,000,000.00 3,000,000.00 -----------------2,450,000.00 2,850,000.00 1,500,000.00 2,700,000.00 Auzust------- - - - - 18,500,000.00 300,000.00 T i oooooooo I 500,000.00 1,500,000.00 2,000,000.00 2,000,000.00 3,000,000.00 7,500,000.00 – 36,500,000.00 69,318,000.00 Total-------------------- 145,518,000.00 - 36,500,000.00 69,318,000.00 123,618,000.00 ------------------ 123,618,000.00 | 1934 January------------------------ 31,500,000.00 51,500,000.00 |------------------ 51,500,000.00 G r a n d total.-------------- 206,018,000.00 193,618,000.00 ------------------ 193,618,000.00 JOINT-STOCK L A N D B A N K S oºd.Go || 5,000. 134,339. 47 286,592.54 128,382.45 168, 102.43 447,215.54 616,718.53 2.527,845.62 62,544.32 153,352.93 2,216,010.83 425,764.41 1,539,453.87 824, 170.65 ,000.00 852,097.99 1,300,383.90 703, 170.07 1,705,290.08 1,617,964.83 824,614.58 6,942.54 44,078.94 46,454.79 62,065.08 79,536.90 46,200.63 142,172.67 235,092.30 146,410.39 2,212,918.88 418,614.59 1,507,412.80 784,460. 17 213,921.06 805,643.20 1,238,318.82 623,633.17 1,659,089.45 1,475,792. 16 589,522.28 12,420,274.14 744,537.17 11,675,736.97 229,765.28 18,663.02 752, 526.68 478,487.62 1,427,252.83 a459,824.60 * 1,427,252.83 248,428.30 2,658,267. 13 a2,409,838.83 15, 196,548.06 3,465,348.62 11,731, 199.44 November----December---------------------- Total, first quarter G r a n d total.-------------- - - - - - - - - - - - - - - - - - - 21, 103, 172.68 See footnotes at end of table. - - - 518.90 5,843.00 1,578.42 11,416.90 11,385.04 7,781.50 16,617. 55 January-----------------------February-March------------------------- 2,989.50 - - - - - - - - - - - - - - 3,091.95 7, 149.82 32,041.07 39,710.48 * 522,761.40 REPORT of THE RECONSTRUCTION FINANCE CORPORATION 27 TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts outstandingfrom Feb. 2, 1932, to Mar. 31, 1984, inclusive, by monthsandclasses Continued. F ED E R A L IN T ER M ED I AT E CREDIT B AN KS A m o u n t authorth M on th ized 1 Amount d dis- bursed Amount repaid - º Standing; in j º: t he period 1933 March------------------------- $9,250,000.00 $9,250,000.00 $9,250,000.00 ------------------ A GR IC U LT UR A L CREDIT CORPORATIONS 276,909.98 212,619.43 352,082.06 285,914. 76 $1,000.00 20,200.00 18,050.00 244,328.97 397,973.66 526,538. 14 464,623.96 850,069. 61 * 75,172.08 *73,295.33 3,619,850.98 3,456,627.33 1,082,310.40 2,374,316.93 101,252.10 240,000.00 442,904.36 20,825.00 163,077.91 201,022.01 197,866.93 76,730.88 195,922, 58 166,418. 12 1,805, 22 111,809.20 155,952.10 2,647.85 244,722.72 131,280. 12 193,526.26 139,539.54 279,255.80 153, 124. 13 175,878.58 185, 181.62 8, 194.00 59, 708. 52 207,830. 11 167, 148.22 175,351.39 226,251.38 201,001.35 *51,878.01 * 164,500.37 69,371.33 *94,971.26 254, 111.58 155,384.25 113,609.94 288,005.60 177,306.41 303,275.79 *102,823.98 * 169, 112.41 3243,567.27 1,959,634.31 1,729,011. 24 2,412,027.46 *683,016. 22 242,761.43 260,313. 12 72,461.46 *217,269.73 3.260,313. 12 *72,461.46 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 83,894.35 - - 142, 751.44 37. 475. 09 * 3, 211.90 25, 144,22 32,260. 12 62,268.64 Total, first quarter------- 83,894.35 25,491.70 575,536.01 * 550,044.31 G r a n d total.-------------- 5,663,379. 64 5,211,130.27 4,069,873.87 1,141,256.40 REGI ONAL A GR IC U LT UR A L CREDIT CORPORATIONS 1932 $7,285,972.50 $5,372,062.60 $655.03 $5,371,407.57 January-----------------------February---------------------March------------------------April--------------------------May--------------------------June--------------------------July--------------------------August------------------------September--------------------October-----------------------November--------------------December---------------------- December---------------------- 15,360, 112.84 20,758,427.15 21,693,083.82 18, 119,962.42 22,855,433.69 17,321,307.67 23,278,692.19 3,483,282. 34 3,253,888, 56 * 1,896,464.93 2,109,918.31 23, 255,678.72 15,269,909.65 18,266,632.88 19,706,023.74 19,214,707. 12 23,262,884.81 17,813,925.71 22,287,256.46 3,798,852.57 2,454,622.40 2,762,700. 59 2,015,321.54 2,929,313.74 104,646.84 1,798.634.47 1,330,314.09 2,009, 169.89 2,652,548.71 4,473,930. 65 12,898,417. 70 28, 148,010.72 26,330,278. 71 22,014,809.00 15,897,239.21 7,610,410.44 15, 165,262.81 16,467,998.41 18,375,709.65 17,205,537. 23 20,610,336. 10 13,339,995.06 9,388,838.76 *24,349,158.15 *23,875,656,31 * 19,252, 108.50 * 13,881,917.67 34,681,096.70 Total.-------------------- 153,386,252.64 149,782, 151.12 125,268,410.43 24,513,740.69 5,739,993.04 5,708,256.95 2,706,353.39 5,075,284. 50 6,213,407.61 3,151, 195.84 6,577,453.24 5,442,709.45 7,437,357.94 a 1,502,168. 74 770,698. 16 *4,286, 162. 10 1933 1934 January-----------------------FebruaryMarch------------------------Total first quarter-------- 14,154,603.38 14,439,887.95 19,457,520.63 * 5,017,632.68 G r a n d total.-------------- 174,826,828. 52 169,594, 101.67 144,726,586.09 24,867, 515.58 See footnotes at end of table. 28 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts outstandingfrom Feb. 2, 1932, to Mar. 31, 1934, inclusive, by months and classes— Continued LIVESTOCK CREDIT CORPORA TIONS h A m o u n t author- || i 1. Mo nt h di bursed A m o u n t dis- # . Am ount repaid out standing; in crease for the period - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - October-----------------------November--------------------December---------------------Total-------------------- $496,990.00 2,548, 195.00 1,260,825.00 2,288,576.00 1,415, 216, 29 2,753, 454, 57 1,202, 725. 44 478,305.00 506,565. 55 194,750.00 13, 145,602.85 $470,990.00 !-----------------1,659,550.00 $4,508.69 1,214,017.01 20,249.41 2,549,078.00 136,771.65 1,315,563. 16 255,983.27 1,944,974.76 408,041.41 1,534, 779.79 504, 242.20 521,319.62 605,885.43 452,663.65 552, 119.55 147,467.62 1,574,457.21 11,810,403. 61 4,062,258.82 $470,990.00 1,655,041.31 1,193,767.60 2,412,306.35 1,059, 579.89 1,536,933.35 1,030, 537.59 * 84,565.81 *99,455.90 * 1,425,989.59 7,748,144.79 1933 January----------------------February----------------------March------------------------April. May-- 130,700.00 37,000.00 69,400.00 48,727. 17 June-- July-August.September OctoberNovemb December--Total "anuary------------------------|----------------------------------FebruaryMarch - Total, firstquarter------ 100,000.00 Grand total.------------...- 14,364,402.85 12,668,733.05 1,453, 586.08 919,864. 29 397, 576. 56 ,976.98 343,254.35 366,727.39 315, 517.13 651, 462.14 243,334.89 284, 155.23 292,442. 13 543,647. 07 * 1,384, 186.08 *871, 137. 12 6,081, 544.24 * 5,323,214.80 213,496.61 140,787.36 246,340.01 *213,496.61 * 140, 787.36 *146,340.01 * 397. 576. 56 *248,976.98 *243,254. *250, 727.39 * 315,517. 13 *651,462. 14 * 243,334.89 29,047.04 *292,442. 13 *453,647. 07 600,623.98 * 500,623.98 10,744, 427.04 1,924, 306.01 RA IL RO AD S (INCLUDING RE CEI VER S A N D TRUSTFES) 1932 February---------------------March---...-April-----May-----. June-----July-------August----September---October------November---December---------------------. $46,975, 757.00 13,812,000.00 37,931,457.00 50,923, 538.00 54,239,972.00 16,392,085.00 - $31,322, 257.00 -----------------24,791,500.00 $1,147,952.00 18,816,333.00 -------- --------. 15,898,637.00 2,815,727. 74 54,824,813. 50 203,000.00 27,545,736.00 2,990, 000.00 41,963,445.50 224,884, 31 12,888,851.00 260,000.00 24,931,816.00 1,910,500.00 8,682,808.00 162,498.66 22,645,074.48 125,000.00 $31,322,257.00 23,643, 548.00 18,816,333.00 13,082,909.26 52,621,813.50 24,555,736.00 41,738, 561. 19 12,628,851.00 23,021,315.00 8,520,309.34 22, 520,074.48 284,311,271.48 272,471, 708.77 11, 839, 562. 71 7,583,551.64 14,004.00 24,510, 173.80 8,322,417.82 14,792,891.30 102, 189.40 12,275,136.31 -----------------17,925,716.98 265,795. 18 18,329,650.00 5,125,081. 1,302,600.00 24,073, 118, 10 281,800.00 469,727.04 1,013,300.00 360,000.00 4,629, 207.30 6,226,901.36 3,319, 658.32 76,707. 61 3,819, 291.36 139,132.18 December. ----------Total.-------------------- 7,569,547.64 16,187,755.98 14,690,701.90 12,275, 136.31 17,659,921.80 13,204,578.80 *22,770, 518.10 * 187,927.04 653,300.00 * 1,597,694.06 3,242,950.71 3,680, 159, 18 109,782,987.01 45, 175,073. 89 64,607,913. 12 3,697,480.00 4,495, 623.00 103. 160.00 51, 101.83 43,595.61 100,000.00 3,646,378. 17 4,452,027.39 600,000.00 8,296,263.00 194,697.44 8, 101,555.56 412,445,678.00 402,390,521.49 57,209,334.04 345, 181, 187.45 1934 January------------------------|-----------------500,000.00 100,000.0 Grand total.------------. - See footnotes at end of table. 3, 160.00 REPORT OF THE RECONSTRUCTION FINANCE CORPORATION 29 TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts outstandingfrom Feb. 2, 1982, to Mar. 31, 1984, inclusive, by months and classes— Continued PR OC ES SO RS O R DISTRIBUTORS W H O A R E SUBJ ECT T O PROCESSING T A X E S A m o u n t author- || ized I M on th A m o u n t disbursed Amount repaid A mou nt out standing; in ..."; t he period 1933 November--------------------December---------------------- a$7,333. 69 $7,333.69 |-----------------$7,333.69 14.400.00 ------------------|------------------------------------ Total.-------------------- 21,733.69 7.333.69 |------------------ 7,333. 69 6,816. 69 |-----------------$1,000.00 6,816. 69 * 1,000.00 - Total, first quarterGrand total.-------------- - - 3,787.90 6,816. 69 1,000.00 5,816. 69 25,521.59 14,150.38 1,000.00 13, 150.38 S T AT E F U N D S C R E A T E D F O R T H E PU R PO SE OF INSURING R E P A Y M E N T OF DEPOSITS OF PUBLIC M O N E Y S $5,887,715.88 *74,750.14 Total, first quarter-------------------------|-----------------Grand total.-------------T OT AL , E M E R G E N C Y 5,887,715. 88 5,ssº,715.88 74,750. 14 5,812,965. 74 324,650.95 433, 516.88 841,433.32 *324,650.95 *433,516.88 *841,433.32 1,599, 601.15 * 1,599, 601.15 1,674,351.29 4,213,364. 59 R E L I E F A N D C O N S T R U C T I O N A C T O F 1932, A S A M E N D E D $3,000,000.00 l------------------------------------|-----------------63,931,669.00 $3,947,884.00 $3,947,884.00 73, 128,502.22 10,211,699.75 10,211,699.75 103,002,382.63 17,270,389.52 17,268,354.97 22,939, 183.60 21,653,141.09 21,649,600.09 47,042, 590.68 44,060,901.82 109,881. 40 43,951,020.42 313,044, 328. 13 Total, first quarter------- 97, 144,016.18 115,456.95 97,028,559.23 42,811,872.34 39,810,807. 21 43,943,082.50 47,159,003. 89 55,029,013. 59 6,497,833.23 11,258,722.89 6,012,631.30 7,109,122.61 8,461,727.36 36,876,451.63 40,059, 762.69 144, 281. 14 60,759.60 126,566.04 110,270.37 541,557. 37 347,853.91 171,499.97 734,781.32 617,821.80 147,991. 14 1,076,730.02 *540,541.82 42,667, 591.20 39,750,047.61 43,816,516.46 47,048,733. 52 54,487,456.22 6,149,979. 32 11,087,222.92 5,277,849. 98 6,491,300.81 8,313,736.22 35,799,721.61 *39,519, 220.87 345,030,031. 24 4,620,654. 50 340,409,376.74 77,648,863. 36 32,244, 421.65 28,968, 655.33 1,056,050. 20 8,029,974. 22 10,727, 101.21 76,592,813. 16 24,214,447.43 18,241,554. 12 52,997, 124.63 138,861,940. 34 19,813, 125.63 119,048,814.71 Grand total.--------------| 1,102,548,542.23 581,035, 987.76 24,549,237.08 556,486,750.68 See footnotes at end of table. 30 REPORT of THE RECONSTRUCTION FINANCE CORPORATION TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts outstandingfrom Feb. 2, 1932, to Mar. 31, 1934, inclusive, by months and classes— Continued. S E L F - L I Q U I D A T I N G P R O J E C T S - S E C . 201 (a), T I T L E II ( I N C L U D I N G L O A N S F O R F I N A N ING REPAIR OR R E C O N S T R U C T I O N OF BUILDINGS D A M A G E D B Y E A R T H QUAKE, FIRE, T O R N A D O , O R C Y C L O N E IN 1933) M on th A Inount authorhorized I A mI o no uunnt disursed Amountrepaid * Standing; i* . .'.;.t hne period 1932 September--------------------- $53,105,000.00 ------------------------------------------------------ 145,775,534.24 15,737,000.00 ------------------ 8,945, 100.00 24,810,372.20 17,759,425.35 *5,001,678.47 2,784,525. 64 *25,683,801.56 2,020,000.00 4, .00 2, 462. 06 2,924,819. 35 7,853,970. 51 3,851,648.18 6,740,302.08 7,552, 137. 13 3,992,943. 16 3,436,127. 18 15,675.00 22,900.00 5,150.00 50,325.00 11,525.00 4,500.00 2,600,000.00 327,000.00 2,020,000.00 4,442,000.00 2,105,462.06 2,902, 719.35 7,838,295.51 3,828,748. 18 6,735,152.08 7,501,812. 13 3,981, 418. 16 3,431,627.18 47,866,409.65 152, 175.00 47,714, 234.65 8,408,771.54 2,065, 486.53 10,001, 716.92 363,537.00 2,344,825.00 1,023,400.00 8,045,234.54 *279,338.47 8,978,316.92 4 124.63 20,475,974.99 3,731,762.00 16,744,212.99 230,763,866. 13 84,079,384.64 3,883,937.00 80, 195,447.64 Total, first quarter------Grand total FINANCING OF E XP ORTS OF 2,600,000.00 15,737,000.00 - AGRICULTURAL title - 100.00 S U R P L U S E S - S E C . 201 (c), il 1933 July---------------------------August-------September---- $52,851,247. 22 29,295.58 - October------- - November---- - December---------------------------------------- Total, firstquarter-------|-----------------Grand total.-------------- 52,880, 542.80 See footnotes at end of table. $1,497, 503.38 |-----------------1,903,990.01 341, 170.88 $55,857.49 257,538.30 38,064. 59 609,080.03 17,636.57 2,533,445.78 135,975. 72 $1,497, 503.38 1,903,990.01 285,313.39 219,473.71 591,443.46 2,397,470.06 7,142,728.38 247,534.37 6,895, 194.01 2,233,987. 48 1,065, 488. 51 1,076,848.69 85,324.07 56,803.84 56,494.88 2,148,663.41 1,008,684.67 1,020,353.81 4,376,324.68 198,622.79 4, 177. 701. 89 11,519,053.06 446, 157.16 11,072, 895. 90 REPORT OF THE RECONSTRUCTION FINANCE CORPORATION 31 TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts outstandingfrom Feb. 2, 1938, to Mar. 31, 1934, inclusive, by months and classes— Continued FINANCING OF A G R I C U L T U R A L cºgnities A N D L I V E S T O C K – S E C . 201 (d), Amount Mo nth A mo un t authorized 1 A mo un t disbursed Amount repaid out standing; i n j º period $50,000,000.00 1,500,000.00 474,740.63 129,616.60 2,671,563.44 $451, 580.12 830,276.97 158, 117.00 $2,034. 55 3,541.00 109,881.40 $449, 545,57 826,735.97 48,235.60 54,775,920.67 1,439,974.09 115,456.95 1,324,517. 14 ,802.20 ,000.00 ,000.00 ,329.43 ,000.00 ,280.00 ,250.00 ,000.00 ,500.00 ,000.00 ,500.00 ,551.00 32,302.20 75,295.96 104,024.04 1,349,879.30 465,354.37 212,668.80 608,800.95 110,290.93 27,649.65 652,051.93 32,274,428.44 34,090, 189.73 144,281. 14 60,759.60 126,566.04 110,270.37 186,657.37 194,508.91 155,824.97 385,441.32 379,314.31 59,601. 55 1,047,568.45 1400,066. 10 *111,978.94 14,536.36 *22,542.00 1,239,608.93 278,697.00 18,159.89 452,975.98 *275, 150.39 *351,664.66 592,450.38 31,226,859.99 *33,690,123.63 411,131,212.63 70,002,936.30 3,250,860. 13 66,752,076.17 49,015,000.00 3,095,000.00 887,000.00 67,006, 104.34 29, 113,446.61 17,890,089.72 607,189.13 5,616,395.38 9,647,206.33 66,398,915.21 23,497,051.23 8,242,883.39 52,997,000.00 114,009,640.67 15,870,790.84 98, 138,849.83 Grand total.-------------- *518,904, 133.30 | *185,452, 551.06 *19,237, 107.92 166,215,443. 14 Total, first quarter------- A M O U N T S M A D E A V A I L A B L E F O R R E L I E F A N D W O R K R E L I E F — S E C . 1, T I T L E I 112,492,873. 22 49,435,416.00 48,187,271.00 29,650,979.00 48,973,962.78 1 - - - $3,947,884.00 10,211,699.75 -----------------16,818,809.40 20,462,864. 12 |-----------------28,525,784.82 |------------------ $3,947,884.00 10,211,699.75 16,818,8.09.40 20,462,864. 12 28, 525,784.82 79,967,042.09 ||------------------ 79,967,042.09 - - - - 52,438, 197. 16 $334,900.00 3,360,345.08 131,245.00 1,298,448.05 ||-----------------146,702.18 326,440.00 177,500.00 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 187,507, 126.78 Bee footnotes at end of table. 220,017,956.91 970,085.00 40,179,570.14 39,408, 511.25 41,819,058.46 41,367,124.59 52, 103,297. 16 3,229, 100.08 1,298,448.05 * 179,737.82 * 177,500.00 219,047,871.91 11,950.00 * 11,950.00 982,035.00 299,002,964.00 32 REPORT of THE RECONSTRUCTION FINANCE CORPORATION TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts outstandingfrom Feb. 2, 1932, to Mar. 81, 1934, inclusive, by months and classes— Continued T O T A L A C T A P P R O V E D M A R . 9, 1933, A S A M E N D E D M o nt h AnºtAuthor. *:::::dis- Amount out stan for the A mou nt repaid $14,932, 500.00 7,600,000.00 * 16,597, 500.00 8,188,000.00 14,798.000.00 3,471,000.00 4,385,000.00 30,965,000.00 *89,902,000.00 2306,401,000.00 $12,750,000.00 7,582,500.00 5,150,000.00 17,985,500.00 8,185,000.00 7,677,500.00 3,776,000.00 2,990,000.00 44, 155,000.00 154,094,716.67 82,734.37 109,910.25 3, 109.41 $12,750,000.00 7,582,500.00 5,150,000.00 17,980,815.00 8,178,766.97 7,676,598.25 3,775,950.00 2,957,265.63 44,045,089.75 154,091,607.26 497,240,000.00 264,346,216.67 157,623.81 264,188,592.86 256,151,850.00 75,631,750.00 104,883,000.00 146,474,400.00 54,717,750.00 128,039,340.00 191,165.00 109,449.18 71,740.04 146,283,235.00 54,608,300.82 127,967, 599.96 * ~ ~~ ~. 6,233.03 901.75 50.00 Total, first quarter------- 436,666,600.00 329, 231,490.00 372,354.22 328,859, 135.78 Grand total.-------------- 933,906,600.00 593,577,706.67 529,978.03 593,047,728.64 LOANS O N PREFE R R E D ST OCK OF BA NKS A N D TRUST COMPANIES $250,000.00 - - - - - - - - 1,000,000.00 10,930,315.00 33,766.97 551,598.25 175,950.00 542,265.63 *22,610.25 826,490. 59 January-----------------------FebruaryMarch------------------------- 17, 199,500.00 14,358, 100.00 70,323.81 14,287,776. 19 1,801, 350.00 4,996,750.00 2,665,500.00 310,000.00 322,500.00 1,474,000.00 166,165.00 9,449.18 51,740.04 143,835.00 313,050.82 1,422, 259.96 Total, first quarter------- 9,463,600.00 2, 106,500.00 227,354. 22 1,879, 145.78 Grand total.-------------- 26,663, 100.00 16,464,600.00 297,678.03 16, 166,921.97 SUBSCRIPTIONS F O R P R E F E R R E D S T O C K OF B A N K S A N D T R U S T C O M P A N I E S $13,682, 500.00 7,400,000.00 29,012,500.00 4,838,000.00 12,682,500.00 2,845,000.00 3,735,000.00 5,925,000.00 217,753,000.00 * 177,977, 100.00 $12,500,000.00 7,582,500.00 4,150,000.00 6,850,500.00 8, 145,000.00 6,625,000.00 3,600,000.00 2,415,000.00 4,115,000.00 77,015, 116.67 $12,500,000.00 7,582,500.00 4, 150,000.00 6,850, 500.00 8,145,000.00 6,625,000.00 3,600,000.00 2,415,000.00 4,027,700.00 77,015, 116.67 255,850,600.00 132,998, 116.67 132,910,816.67 143,654,600.00 51,895, 500.00 78,867,500.00 274,417,600.00 94,669,500.00 25,000.00 29,933,000.00 50,000.00 97,479,690.00 -----------------222,082, 190.00 75,000.00 94,644, 500.00 29,883,000.00 97,479,690.00 222,007, 190.00 530,268,200.00 355,080, 306.67 354,918,006.67 See footnotes at end of table. 162,300.00 REPORT of THE RECONSTRUCTION FINANCE CORPORATION 33 TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts from Feb. 8,1988,to Mar. 31, 1934, inclusive,by months and classes— 8ontinued . PU R CH AS ES OF CAPITAL NOT ES O R D E B EN T U R ES OF B AN KS A N D TR UST COMPANIES A mo un t author- I Amount dis- Mo nth ized 1 bursed Am oun t out standing; in . the § Amount repaid perl 224, 189,900.00 116,990, 000.00 ------------------ 116,990,000.00 110,695,900.00 18,739,500.00 23,350,000.00 51,494,900.00 -----------------24,462,250.00 $50,000.00 29,085,650.00 20,000.00 51,494,900.00 24,412,250.00 29,065,650.00 Total, first quarter------- 152,785,400.00 105,042,800.00 70,000.00 104,972,800.00 Grand total.-------------- 376,975,300.00 222,032,800.00 70,000.00 221,962,800.00 T O T A L , A G R I C U L T U R A L A D J U S T M E N T A C T O F 1933 (To Secretary of Agriculture to acquire cotton, sec. 5, title I) 3,300,000.00 T O T A L , E M E R G E N C Y F A R M M O R T G A G E A C T O F 1933 (Drainage, levee, and irrigation districts, Sec. 36, title II) - *; 489. 21 * 10,565,698.83 10,949, 188.04 $2,413,355.10[...I.I.I.I.I.I.I. T $2,413,955. 10 2,413,955. 10 2,413,955. 10 l------------------ 10,884,545.40 -------------4,133,282.73 ||----------------6,745,426.75 110,943.34 ------------------ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 110,943.34 Total, first quarter------- 21,763,254.88 110,943.34 |------------------ 110,943.34 Grand total.-------------- 32,712,442.92 2,524,898. 44 ||------------------ 2,524,898.44 T O T A L , A C T A P P R O V E D J U N E 10, 1933 (Loans on preferred stock of insurance companies) 1933 December---------------------- $4,375,000.00 $4,375,000.00 $4,375,000.00 1934 March------------------------Total.-------------------- 7,500,000.00 l------------------|------------------|-----------------11,875,000.00 4,375,000.00 ------------------ 4,375,000.00 1.These figures have been adjusted on account of rescissions. *Revised. * Decrease. resentsincreases due to accounting adjustments in loans previously authorized. *Includes authorizations of$448,000,000tothe Commodity Credit Corporation, of which $178,279,877.89 was disbursed and $16,467,009.73 was repaid. H.Doc. No. 899, 7 8 - 2 – 8 34 R E P O R T OF T H E RECONSTRUCTION FIN ANCE CORPORATION TABLE 7.-Number of borrowers and amounts of loans authorized under sec. 5 of the Reconstruction Finance Corporation Act, as amended (1), Feb. 2, 1982, to Mar. 31, 1984, inclusive, by size of cities or towns. BANKS A N D TRUST COMPANIES Authorizations B Population of cities* †.* which borrowers N um b er orrowers, Pe. of Percent of Amount total Under 5,000------------------------------5,000 to 9,999---------------------------10,000to 24,999---------------------------25,000 to 49,999-----------------------------50,000 to 99,999-----------------------------100,000 to 199,999--------------------------------200,000to 499,999-------------------------500,000 to 999,999-----------------------1,000,000 and over-------------------------------- 4,870 70.4 8.0 7.3 3.5 3.0 2.2 1.5 2.0 2.1 $260,979,346.47 94,715,741.49 144,604,945, 40 122,053,423.85 237,016,711.96 184,245,880.64 220,478,464.42 360,262,761.96 326,383, 194.26 13.4 553 504 241 208 155 103 141 142 Total-------------------------------------- 6,917 100.0 1,950,740,470.45 100.0 RECONSTRUCTION 4.8 7.4 6.3 12.2 9.4 11.3 18.5 16.7 F I N A N C E C O R P O R A T I O N AC T, A S A M E N D E D 1 5,114 60.9 656 693 401 376 257 347 302 252 7.8 8.2 4.8 4.5 3.1 4.1 3.6 3.0 $283,768,265.76 104,278,277.66 173,975,528.82 153,365,894.22 282,001, 171.90 225,475,601.86 321,020,342.68 519,302,087.38 515,629, 236.60 11.0 4-0 6.8 5.9 10. 9 8.8 12.5 20.1 20-0 8,398 100.0 2,578,816,406.88 100.0 1 Exclusive of railroads, regional agricultural credit corporations, Federal land banks, Federal inter mediate credit banks, processors or distributors who are subject to processing taxes, and State funds created for the purpose of insuring repayment of deposits of public moneys. TABLE 8.—Names and compensation of directors, officers, and employees of the Reconstruction Finance Corporation receivingfrom the Corporation more than $400 per month, as of Mar. 31, 1934 W A S H I N G T O N OFFICE Basic sal Name Jones, Jesse H.-Blaine, John J.---Couch, Harvey CHenderson, Charles Title Ch a ir m an Director Merriam, & 5 . Taber, Frederic H Talley, Lynn PReed, Stanley---Cooksey, George R. Mulligan, H. A. Fitts, William C Alley, James B- #: ary per Net sal month per mon $833.33 $750.00 833.33 833.33 833.33 833.33 833.33 750.00 750.00 750.00 750.00 750.00 1,041.67 1,024.31 1,024.31 041. 67 833.33 819.44 833. 33 819.44 833.33 750.00 750.00 750.00 750.00 750.00 750.00 750.00 750.00 750.00 750.00 750.00 720.00 720.00 712.50 675.00 675.00 833.33 833.33 833.33 Do nal d J Pierson, Warren L Johnson, Ben--Schwulst, E. B. Barriger, J. W., III Brownell, R. A.--McKee, John K.-Sheehan, William F.-Persons, Henry Z----Taylor, R. J.-------------------Whitaker, Harry E Husbands, Sam-------Lindquist, R. J.-Payer, Harry F----------Mandeville, Charles H. W-----| Chief, agency division---------hief, examining divisio Assistant chief, examining division Examiner------------------------Assistant chief, agency division Assistant chief engineer Assistant chief, examining di Chief auditor------------Special counsel---Examiner--------------- Dougherty, J. L. º 833.33 833.33 833.33 833.33 833.33 833.33 833.33 800.00 800.00 791.67 750.00 750.00 750.00 708.33 675,00 63.50 REPORT OF THE RECONSTRUCTION FINANCE CORPORATION 35 TABLE 8–Names, and compensation of directors, officers, and employees of the Reconstruction Finance Corporation receivingfrom the Corporation more than $400 per month, as of Mar. 31, 1934—Continued W A S H I N G T O N OF FIC E–C on tin ued Name Net sala Title per m o n 600.00 i i ; Corcoran, Thomas G----------- Cross,Guernsey T------------Snodgrass, Russell L Shaver, Clem-----------Baxter, Norman W------Costello, W . C.--------- ; Chadduck, Harry W----Shannon, Ernest--------Boggs, Verner------------ Special assistant-----------------------------Financial adviser Counsel--------------------------------------Assistant secretary---------------------Chief, statistical and economic division Assistant chief, examining division-----Examiner------------------------------------- Assistant treasurer-Examiner------- ii J------------------ Jones,Ralph's................. Kiesling, Robert J.-------------- Reed Chief examiner, drainage, levee, and irrigation division. - Chiefengineer, drainage, levee, and irrigation 450.00 Griffin, Charles N.--- LaFever, Dwight Y Macartney, Morton-Moore, Hilton M----Moore, Milton K--------------- O'Bleness, E. J.-------Rochelle, William J.------------- Seabury, R. M---- § i : 450. 36 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION TABLE 8.—Names and compensation of directors, officers, and employees of the Reconstruction Finance Corporation receivingfrom the Corporation morethan $400 per month, as of Mar. 31, 1984—Continued W A S H I N G T O N O FFI CE –Co nti nu ed Basic Sal Name Title Seeley, Harold J---------------Watson, William P Webb, George T---------------Farrell, Edward A.-------------- . # - Net Sal per mont $500.00 $450.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 491.67 491.67 483.33 475.00 466.67 450.00 450.00 450.00 450.00 450.00 450.00 450.00 450.00 450.00 450.00 450. G0 450.00 450.00 442.50 442.50 435.00 427.50 i| Appraiser------------------------------------chief auditor------------------------ Asºn Supervising accountant----------------------Special assistant------------------------------Assistant secretary---------------------------Assistant to the secretary--------------------- * - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - ii House, Perry B Jenkins, Hugh Powell Lewis, Charles B.-----Ly ord, Frederic E ack, Bryan-------Robertson, Hilton W-Stafford, Bayard C------------ #;: Strong, Albert L.-Sullivan, Frank J.---Bennett, Andrew W Fletcher, Lloyd----Rosenwald, Harold.-Glueck, Nathan H-Wilson, Robert G--Frank T. -Administrative assistan A Pºlº - - - - - - - - - - - - - - REPORT OF THE RECONSTRUCTION FINANCE CORPORATION 37 TABLE 8.—Names and compensation of directors, officers, and employees of the Reconstruction Finance Corporation receivingfrom the Corporation more than $400 per month, as of Mar. 31, 1934—Continued W A S H I N G T O N OFF IC E–C ont in ued Basic Sal Name Title Harrington, John Lyle.-------- Special engineer adviser----------------------Mehnert, ,i. A Appraiser Roper, Wilbur------------------|-----do----------------------------------------- L O A N Atlanta, Ga.: Cocke, Frle ham, Manager---------------------------------------| Assistant manager-Cotting- || Manager-------------------------------------- ham, Ala.: Net Sal per Inont § § 1. 2 (? (* A GEN CIE S 4 Chadwell, W. A.---B month ary per $625.00 $562.50 416.67 600.00 375.00 540. - 833.33 750, 00 #%| #: 458.33 470.00 500.00 412. 50 423.00 450.00 ; § - 708.33 625.00 ; % - 500.00 500.00 500.§ § Field representative Anderson, George S-Examiner-------Murchison, Frank M-------|-----d Walters, Harold S----------| Attorney--------David, Ross----Gill, Charles R-------------| Examiner-------Knight, H. B---------------|----Smith, James C------------|----Standish, M . L. Touhy, Arthur------------- Examiner------------------------------------Cleveland, Ohio: Callander, F. S.------------- Manager-------------------------------------Davies, M . C.---Assistant manager-Killpack, James M Chief, closed banksWadsworth, J. L. Assistant manager-P Tex.; Andrews, Warren | Manager-------------------------------------- - - - - 750.00 450.00 637. 50 562.50 562.50 450.00 450.00 450.00 {:}} 500.00 500.00 458.33 458.33 450.00 416.67 416.67 416.67 416.67 416.67 416.67 .00 450.00 450.00 412.50 412.50 405.00 375.00 375.00 375.00 375.00 375.00 375.00 750.00 541.67 500.00 500.00 700.00 675.00 487. 50 450.00 450.00 630.00 833. 33 500.00 416.67 416.67 500.00 750.00 450.00 375.00 375.00 450.00 500.00 450.00 Detroit,Mich.: Fisher, Charles T., Jr.------ Hewitt, Charles HBarber, Everett. -Regan, William A---- Houston,Tex.: Ford, R. F----Jacksonville, Fla.: Farwell, Fred H--- - - - - - do----------------------------------------- *Asmember oftheengineers'advisoryboard attherateof$32.50perday, less15percent when employed n for January, basicrate $455, net $386.75. *Employed on per-diem basisat$15per day less deduction. Compensation forJanuary, basicrate$450 less15percent, .50. Compensation for February, basic rate $405 less 10percent,$364.50. Compensation forMarch,basicrates153less10percent,$137.70. The 10-percentreductioneffectiveFeb.1,1934,ispursuant totitle IIofthe Independent OfficesAppropriation Act, 1935. *Employed on per-diem basis at$15per day less15percent. Compensation forJanuary, basic rate$435 lºss15percent, º Compensation for February, basic rate $450less 10 percent,$405. Compensation for March, basicrate$451ess10 nt,$40.50. The 10-percentreduction effective Feb. 1,1934, ispursuant to titleIIofthe Independent OfficesAppropriation Act, 1935. *Except ashereinindicated, attorneys handling legalmatters of the various agenciesofthe Corporation do notreceivesalariesbut are paid in the customary way according to the character and volume ofthe work and therefore are not included. 38 REPORT of THE REConstruction FINANCE CORPORATION TABLE 8.-Names and compensation of directors, officers, and employees of the Reconstruction Finance Corporation receivingfrom the Corporation more than $400 per month, as of Mar. 31, 1934—Continued L O A N AG ENCI ES. –Co nti nue d Basic sa l Name Kansas City, Mo.: Hodges, FrankTremble, George Rice, Carl V---Little Rock, Ark.: Jarrett, J. W . Pettit, Clyde. Los Angeles, Calif.: Title Manager---------------Assistant manag - - 450.00 600.00 Manager---------------Special counsel-------------------------------- Daniel, Her- -----do---------------------------------------- Philadelphia, Pa.: Kilbourn, Jonathan F------|-----do---------------------------------------Denworth, Hugh F--------- Assistant manager---------------------------Toppin, E. B.--------------- Temporary assistant to chairman, special advisory, and appraisal committee. Thompson, John M.-------- Office attorney-------------------------------Gretz, Arthur A------------ Examiner--------------------------Portland, Oreg.: Slade, E. F----| Manager-------------------------------------Richmond, Va.: Combs, E. R.---------------|-----do---------------------------------------Staples, E. W . ------Assistant manager aters, W . Murray-------- Chief examiner-----------------------Lake City, Utah: Smith, anager-------------------------------------- Net mo salnt per $750.00 ounsel--------- Scroggs,Thomas C.--Manager-------------------------------------Sears, Jerome F--- Assistant manager---Roper, James H------------ Supervising engineer-------------------------Louisville, Ky.: Humphrey, Lovell M------ Assistant manager---------------------------Minneapolis, Minn.: Qhapman,Joseph---------- Acting manager------------------------------Barton, John W------------ Special assistant-----------------------------Nashville, Tenn.: Gardenhire, J. M----------- Manager-------------------------------------Davis, Lee----------------- Assistant manager---------------------------N e w Orleans, La.: Buskie, George F----------- Acting manager------------------------------Robertson, George W Assistant manager Kaplan, Monroe-------! Examiner------------------------Knight, M . J.---------------|-----do----------------------------------------N e w York, N.Y.: Mahoney, Daniel J.--------- Manager-------------------------------------Ahearn, Thomas J., Jr.-Cahill, William J.-----------| Special counsel. --------------Smith, Frederick P---------| Counsel----------Weinstein, Walter HSanford, Clarence R-------Stevens, Harry I.----Tyree, Young-------Clarke, A. J., Jr.-----------Linn, Henry A.------------Merritt, Matthew J.-------City, Okla.: Eagen, ofººms o º : Nebr.: º 450.00 450.00 500.00 562.50 375.00 450.00 - - 416.67 375.00 # 625.00 700.00 562.50 630.00 583.33 458.33 525.00 412.50 683.33 416.67 416.67 416.67 615.00 375.00 375.00 375.00 875.00 833.33 833.33 791.67 750.00 500.00 458.33 458.33 416.67 416.67 416.67 450.00 860.42 819.44 750.00 712.50 675.00 4 50.00 412.50 412.50 375.00 375.00 500.00 450.00 833.33 708.33 541.67 750.00 637.50 487. 50 500.00 441.67 450.00 450.00 397.50 405.00 sº 700.00 416.67 416.67 450.00 San Antonio, Tex.: Meerscheidt, -----do---------------------------------------- 500.00 375.00 405.00 630.00 375.00 375.00 450.00 tto. San Francisco, Calif.: Calkins, A.A.--------------|-----do---------------------------------------McCullough, John S-Assistant manager.-H os s a ck Examiner------------------------------------- 600.00 416.67 (*) 540.00 375.00 (*) St. fouis, Mo.; Vardaman, James K., Jr.---| Manager-------------------------------------Kerr, R. D.----------------- Assistant manager---------------------------- º : 833.33 500.00 750.00 450.00 * W h e n actually * Employed on per iem basis at $25 per day less deduction. Compensation for January, basic rate $575 less 15 percent, $488.75. Compensation for February, basic rate $500 less 10 percent, $450. Compensation for March, basic rate $550 less 10 rcent,$495. The 10-percentreduction effective Feb. 1,1934,ispursuant to title IIof the Independent OfficesAppropriation Act, 1935. REPORT of T HE RECONSTRUCTION FINANCE CORPORATION 39 "... TABLE 9.—Statement of cash and expenditures during the first quarter, Jan. 1, 1934 to Mar. 31, 1934, inc usive. (Corporation's accounts with Treasurer of United States) cºorporation--------------------------------------------------------------------------. atthe closeofbusiness Dec. 31, 1933,as per the books ofthe treasurer ofthe $6,656,275. 70 AddchecksissuedpriortoJan. 1,1934,canceledduring themonth ofJanuary 1934--------- 980. 74 ºusted cash balance at the close of business Dec. 31, 1933----------------------- 6,657,256.44 pts: Sale of notes------------------------------------------------------------------------Repayments of loans: To banks and trust companies (including receivers)------------- $154,493,874.01 T o credit unions 18,234.05 To building and loan associations------------------------------11,292, 197.96 To insurance companies----------------------------------------10,734, 414.03 To joint-stock land banks---------------------------------2,566,974. 17 600,623.98 To livestock credit corporations---------------------------T o mortgage loan companies-----------23,754,624.72 To regional agricultural credit corporations T o other agricultural credit corporations 549,286.01 To railroads------------------------194,697.44 to or distributors for pa 1,000.00 To Statefunds forinsurance of depositsofpublic moneys-------1,599,601.15 For self-liquidating projects under sec. 201 (a) (bonds and cer tificate paid, par $3,623,900).----------------------------------3,623,900.00 For repair or reconstruction ofproperty damaged by earthquake, etc.---------------------------$107,862.00 - - - - - - - - - - - - - - - - - - - - - 715, 515,000.00 - - - - g; . For financing sale of agricultural surpluses in - foreign markets------------------------------To institutions under sec 201 (d) Commodity 198,622.79 Credit Corporation---------------------------- 15,371,238.81 499,252.03 Other------------------------------------------Secured by preferred stock banks and trust c o m panies----------------------------------------- 227,354.22 Relief disbursements (1932 act), repaid-------Preferred stock and debenture retirements Sale of gold-----------------------------Interest and discount collected.-Accrued interest on notes sold.----------------Dividends collected on preferred stock purchased.---------------Reimbursable expense collected.--------------------------------on advances for care and preservation ofcollateral.-Collections on collateral (cash collateral)-----------------------Collections on collateral purchased.-----------------------------reductions regional agricultural credit corporations-----Refunds of expenses paid---------------------------------------Unallocated, pending advices----------------------------------Miscellaneous (including amounts credited in error)-- #:Rºº. § : - - - - - 1,315,750.64 151,420.24 826,855. 286, 103. 27, 1,575, 9 ;i 19,294, 654, 35 : 1,129, 156.713.64 1,135,813,970.08 Total.---- Expenditures: Loan disbursements: To banks and trust companies (including re ceivers)--------------------------------------- $103,648,776.53 T o building and loan associations-1,038,683. 22 To insurance companies----------1,624,629.93 To Federal land banks-----51,500,000.00 T o joint-stock land banks 229,765.28 To livestock credit corporations---100,000.00 To loan companies-----------7,567,028.74 To regional agricultural credit corporations-14,147,378.57 To other agriculturalcredit corporations--To railroads------------------------------------- ::::::::: - To processors or distributors for payment ofpro 6,816.69 Cessing taxes---------------------------------- For self-liquidating projects under sec. 201(a) (bonds and notes purchased, par $15,384,000)--For repair or reconstruction of property damaged 15,068, 135.87 by earthquake, etc.---------------------------5,407,839. 12 For financing sale of agricultural surpluses in foreign markets------------------------------4,376,324.68 T o institutions under sec. 201 (d) Commodity Credit Corporation--------------------------- 112,608, 147.92 Other----------------------------------1,401,492.75 110,943.34 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - $2,106,500.00 - — 329,264,217.34 Reliefgrants (1933act)---------------------------------------------- 171,725,612.13 Payments of subscriptions to capital of regional agricultural credit (increases)------------------------------------------rcorporations º of capital notes and debentures, ba a n d trust c o m 1,500,000.00 panies------------------------------------------------------------- 105,042,800.00 Purchases ofpreferreds ,banks and trustcompan 222,082, 190.00 Redemption ofnotes “series Feb. 1, 1934”-------------- 131,573,815.50 402, 512.00 Expenseshipment ofgoldfrom foreigncountriestoUnit Payments to Secretary ofthe Treasury (forpurchase ofstock ofFed eralhome-loan banks)--------------------------------------------- 3,900,000.00 40 REPORT of THE RECONSTRUCTION FINANCE CORPORATION TABLE 9.—Statement of cash receipts and expenditures during the first quarter, Jan.1,1934to Mar,31,1934, inclusive. (Corporation's accounts with Treasurer of United States)—Continued Expenditures—Continued. Payments to Secretary of the Treasury (for purchase of stock of H o m e Owners' Loan Corporation) Payments to Land Bank Commissioner----Payments to Federal Farm Mortgage Corporation Advances for expenses regional agricultural credit corporations (under Farm Credit Administration).----------------------------Advances for expenses Federal Emergency Relief Administration--Advances for care and preservation of collateral.-------------------Re und of interest and dividend overpayments Release of cash collateral-------------------Interest on cash collateral to rediscounts------ Discount rebates and refund of unearned discountRelease of funds held in suspense-------------------------------Accrued interest on bonds purchased (self-liquidating projects)Furniture and fixtures---------------------------------------Expense: General.--Loan agency Custodian-------------------------------------------------Reimbursable expense Miscellaneous (including refunds and credited in error)-----------------------------------------------— - - 000.00 000.00 000.00 1,214,500.00 147,793.87 1,155,029.66 97,782.00 205,332.76 5,122.88 18, 109.32 607,097.94 151,641.18 71,396. 921, 153.25 1, 170,609.40 589,213.84 308,696.71 660,515.01 $ 1,132,815, 140.99 Cash balanceatcloseofbusiness,Mar. 31, 1934------------------------------------ 2,998,829.09 NotE.-In addition to funds on deposit with the Treasurer of the United States, custodian banks held in suspensefunds which amounted to $5,056,007.01 at the close ofbusiness Dec. 31, 1933, and $6,613,988.37 at the close of business Mar. 31, 1934. TABLE 10.-Statement of condition of the Corporation as of the close of business Mar. 31, 1934 Assets Cash on deposit with Treasurer of United States---------------------------------------Funds held in suspense by custodian banks---Petty cash funds-----------------------------------------------------------------------Allocated for expenses regional agricultural credit corporations (under Farm Credit Administration).----------------------------------------------------------------------Allocated for Federal Emergency Relief Administration (1933 ReliefAct)--to Secretary of Treasury"--------------------------------------- Alloºd #: ; i. #s %º ,000. ( ,000t 0. Allocated to Land Bank Commissioner "-------------------------------Less reallocated to Federal Farm Mortgage Corporation------------Allocated to Federal Farm Mortgage Corporation--------------------------------------Allocated to Secretary of Agriculture *----------------------------------- §§ § § Reallocated as capital Regional Agricultural Credit Corporation---------------------------------- - - - - - - - - - $44,500,000 Reallocated to Governor of Farm Credit Administration. 40,500,000 85,000,000.00 Capital regional agricultural credit corporations------------------------Allocated for revolving fund (capital regional agricultural credit corpora tions)----------------------------------------------------------------- 44,425,000.00 75,000.00 Allocated to Governor Farm Credit Administration--------------------------Loans under Sec. 5: Proceeds disbursed (less repayments): Banks and trust companies *------------------------------------ 657,387,344.04 Credit unions-------------------494, 264. 16 Building and loan associations *-55,853,607.31 Insurance companies------51,700,364.72 Federal land banks193,618,000.00 Joint-stock land banks----11,731, 199.44 Livestock credit corporations. 1,924,306.01 Mortgage loan companies -------------------------------------- 161,573,834.11 Regional agricultural credit corporations------------------------ 24,858,786.75 Other agricultural credit corporations--------------------------1,141,256. 40 Railroads (including receivers) 345, 181, 187.45 Processors or distributorsfor payment of taxes--------,150.38 State funds forinsurance ofdepositsofpublic moneys------------4,213,364. 59 1,509,690,665.36 Proceeds not yet disbursed: Banks and trust companies *------------------------------------ 187,815,216.58 Building and loan associations *--------------------------------1,889,917.80 Insurance companies-------------------------------------------,292.49 Joint-stock land banks-----------------------------------------Livestock credit corporations-----------------------------------Mortgage loan companies º----Regional agricultural credit corporati ,956, 25 Railroads (including receivers).-------,227, 04 Processorsor distributors forpayment of 3, 31 323,664,434.14 See footnotes at end of table. - - - - - - - - - - - - - - - . - REPORT OF THE RECONSTRUCTION FINANCE CORPORATION 41 TABLE 10.-Statement ofcondition of the Corporation as of the close of business Mar. 81, 1934—Continued A S S E ts — c o n t i nu e d Loansand contractsforself-liquidatingprojectssec.201(a): Proceeds disbursed (less repayments) (by purchase ofbonds, certificates, and notes; par $73,274,300-------------------------------------------------------------------- $72,226, 159.64 Proceeds not yetdisbursed (contracts,bonds, certificates,and notes;par$126,577,000). Loans forrepairor reconstructionofproperty damaged by earthquake, etc.: 126,570,074.92 Proceeds disbursed (less repayments) Proceeds not yet disbursed 7,969,288.00 2,281, 175.00 Loansunder sec.201 (c),forfinancingsaleofagriculturalsurpluses inforeign markets: Proceeds disbursed (less repayments)----------------------------------------------Proceeds not yet disbursed.---------------------------------------------------------Loans to institutions under sec. 201 (d): Proceeds disbursed (less repayments)---Proceeds not yet disbursed Loans to drainage, levee, and irrigation districts: Proceeds disbursed Proceeds not yet disbursed.---- 11,072,895.90 11,361,489.74 166,215,443. 14 274, 584,498.45 2,524,898. 30, 123,055.27 Loanssecured by preferred stock insurance companies: Proceeds disbursed.-----------------------------------------------------------------Proceeds not yet disbursed.---------------------------------------------------------- 4,375,000.00 7,500,000.00 Loanssecured by preferred stock banks and trust companies: Proceeds disbursed (less repayments)----------------------------------------------Proceeds not yet disbursed.---------------------------------------------------------Reliefauthorizations (1932 act): Proceeds disbursed (less repayments)----------------------------------------------Proceeds not yet disbursed.---------------------------------------------------------- 16, 166,921.97 8,285,500.00 299,002,964.00 15,001.00 Preferred stock banks and trust companies: Purchased (less retirements)-------Subscriptions authorized------------------------------------------------------------ 354,918,006, 67 155,909,690.00 Capital notes and debentures banks and trust companies: Purchased (less retirements)-------------------------------------------------------Subscriptions authorized 221,962,800.00 149,362,500.00 Advances for careand preservation ofcollateral: s disbursed (less repayments)-------------------------Proceeds not yet disbursed.---------- 854,869. 15 34,636.34 1,861,203.65 48,388,726.53 862, 159,52 Collateral purchased (costlessproceeds Accrued interest receivable-- Reimbursable expense------------------------------------------------ - Furniture and fixtures------------------------------------------------ 30 Lessallowances for depreciation--------------------------------------------479,499.09 Total.----- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - L iA BIL IT IE S A N D c a p it a l . Payable on certificateof Federal Emergency ReliefAdministration (1933 ReliefAct)---- rº, to Secretary of the Treasury"-------------------------------------------- - - 0.”------ ----------- ------------ ---- 12,973,825. 1:095 - #% Payable to Land Bank Commissioner * Payablefor capitalregionalagriculturalcreditcorporations C 5, 148,657,282.38 le by F a r m Credit Administration for expenses of regional agricultural credit Corporations--------------------------------------------------------------------------- Liabilityforfunds held as cashcollateral-----------------------------------------------not yet disbursed: Loans under sec. 5-----------------------------------------------------------------Loans and contracts for self-liquidating projects, sec. 201 (a)-------------- 5i 1,408,2 6,997, 273.15 - Loansforrepairorreconstruction ofproperty damaged by earthquake, etc.---------Loans under sec.201 (c),forfinancingsaleofagriculturalsurplusesinforeignmarketsLoans to institutions undersec. 201 (d)---------------------------------------------Loans to drainage, levee, and irrigation districts------------------------------------Loans secured by preferred stock: ur anc e companies------------------------------------------------------------ Banks and trust companies-------------------------------------Reliefauthorizations (1932 act)-------Advances for care and preservation of collateralSubscription authorizations: Preferred stock banks and trust companies------------------------Capital notes and debentures banks and trust companies----------- - - - 149,362,500.00, - !nterestpaidin advance-------------------------------------------------------Interestand dividend refunds and rebatespayable-------------------------------------- See footnotes at end of table. 7,500,000.00 8,285, 500.00 15,001.00 34,636.34 155,909,690.00 ashreceiptsnot allocatedpending advices-------------------------------Miscellaneousliabilities(includingsuspense).------------------------------Liabilityforfunds held pending adjustment.------------------------------Unearned discount-------------------------- 323,664, 434. 14 126,570,074.92 2,281, 175.00 11,361,489.74 274,584,498.45 30,123,055.27 6,538,995. 52 2,700.85 247,357.81 440,675.65 127,073.60 42 REPORT of THE RECONSTRUCTION FINANCE CORPORATION TABLE 10.-Statement of condition of the Corporation as of the close of business Mar. 31, 1984—Continued LIABILITIES AND CAPITAL-continued Interest accrued------------------------------------------------------------------------- $16,634,077. 61 De erred credits, income on collateral purchased.----------------------------------------80,795.31 De erted credits to expense-------------------------------------------------------------13,017.30 Notes: Series D, E, F, G and series of Feb. 1, 1934-------------------------------------- 3,166,816, 311.99 Capital stock ----------------- 500,000,000.00 Surplus Dec. 31, 1933-$39,102,163.64 Reserve for self-insurance------------------------------------------------100,000.00 39,202, 163.64 Surplus adjustment--------------------------------------------------------------------3,563.54 Interest earned, less interest and expenses (Jan. 1, 1934, through Mar. 31, 1934)---------9,751,032.79 - Total------------------------------------------------------------------------------ 5, 148,657,282.38 1 Sec. 2 of the Reconstruction Finance Corporation Act, as amended by the Federal H o m e Loan Bank Act, provides that “in orderto enable the Secretary ofthe Treasuryto make payments upon stock of Federal home-loan banks subscribed for by him in accordance with the Federal H o m e Loan Bank Act, the s u m of $125,000,000 or so much thereof as m a y be necessary for such is hereby allocated and made avail º : able to the Secretary of the Treasury out ofthe capital of the Corporation and/or the proceeds of notes, debentures, bonds, and otherobligations issued by the Corporation.” The amount of such stock sub scribedforby thesecre of the Treasury is$124,741,000. *Sec. 4(b)ofthe Home Owners' Loan Act of1933, provides that “the Board (Federal Home Loan Bank Board) shall determine the mi nim um amount of capital stock of the Corporation (Home Owners' Loan Corporation) and isauthorized toincreasesuch capital stockfrom time totime in such amounts as may be necessary, but not to exceed in the º $200,000,000. Such stock shall be subscribed for § the S e c r e taryoftheTreasury on behalfoftheUnited States, and payments for such subscriptions shall be subject to call in whole or in part *}the Board and shall be made at such time or times as the Secretary ofthe Treasury deems advisable. Inorder toenablethe Secretary oftheTreasury tomake such payments when called, the Reconstruction Finance Corporation isauthorized and directed to allocate and make available to the Secretary ofthe Treasury the sum of$200,000,000, orso much thereofas may be necessary, and for such purpose theamount ofnotes,bonds, debentures,orothersuch obligations which the Reconstruction Finance Corporation is authorized and empowered under section 9 of the Reconstruction Finance C o r porationAct, asamended, tohaveoutstandingatany time,ishereby increased by suchamounts asmay be .” T h e amount ofsuch stock subscribed for by the Secretary of the Treasury is$200,000,000. *Sec. 30 (a) of the Emergency Farm Mortgage Act of 1933 made $100,000,000 available to the Farm Loan (now Land Bank) Commissioner forloans to joint-stockland banks. Sec. 32 of the same act made $200,000, 000available tothe Farm Loan (now Land Bank) Commissioner for direct loans to farmers. Of the am ount made available under sec. 32, $145,000,000 was paid to the Land Bank Commissioner and the balance ,000,000was reallocated and paid to the Federal Farm Mortgage Corporation under sec. 3 of the Federal F arm Mortgage Corporation Act. *Sec. 2 of the Reconstruction Finance Corporation Act as amended made available to the Secretary of Agriculture $200,000,000. Of this amount, $135,000,000 was paid to him, of which $20,000,000 was returned n to the Corporation. Of the$85,000,000difference,$44,500,000wasreallocatedand disbursed as capital of the Regional Agricultural Credit Corporations (sec. 201 (e), Emergency Relief and Construction Act of 1932). T h e remainder, $40,500,000, was made available and has been paid to the Governor of the F ar m Credit Administration, pursuant to the provisions of sec. 5 (a) (1) of the Farm Credit Act of 1933. * Loans under sec. (5) of the Reconstruction Finance Corporation Act to aid in the reorganization or liquidation of closed institutions have been authorized in the aggregate amount of$698,239,701.11, of which $44,937,731.38 has been canceled. After taking into consideration repayments of $128,935,270.56 items (5) of the balance sheet include the balance of$341,623,317.12representing proceeds disbursed (less repayments) and $182,743,382.05 representing proceeds not yet disbursed, exclusive of $20,088,420.17 loans approved in principleupon theperformance ofspecified conditions. In addition to loans and other authorizations reflected on the statement of condition, the Corporation has approved in principle loans in the amount of $194,209,889.95 and purchases of preferred stock, capital notes, and debentures of banks and trust companies in the amount of $118,946,250 upon the performance of specified conditions. This statement of condition does not take into consideration expenditures incurred but not paid by the Corporation at the close of business March 31, 1934, nor income of regional agricultural credit corporations whose capital stock was subscribed by the Corporation.