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º Q U A R T E R L Y REPORT OF Reconstruction Finance Corporation TO TH E CONGRESS CO VE RI NG T H E CORPORATION'S OPERATIONS ºr F O R T H E PERIODS APRIL 1 TO JUNE 30, 1933 INCLUSIVE, A N D F E B R U A R Y 2, 1932, T O J U N E 30, 1933, INCLUSIVE & UNITED STATES GOVERNMENT *- P R I N TI N G O F FI C E W A S H I N G T O N : 1933 * - peposit;2º' Tºº. .. wrºperatº ºr ‘’’ see .* * QU A R T E R L Y R E P O R T OF T H E RE C ON S TR U CT IO N FINANCE CORPORATION Q U A R T E R E N D E D J U N E 30, 1933 REconstruction FINANCE Corporation, Washington, July 29, 1933. SIR: Pursuant to the provisions of section 15 of the Reconstruction Finance Corporation Act, the Corporation has the honor to submit its report covering its operations for the second quarter of 1933, April 1 to June 30, 1933, inclusive, and for the period from the organizationoftheCorporationon February 2, 1932, toJune 30, 1933, inclusive. During the second quarter of 1933, the Corporation authorized, under section 5 of the Reconstruction Finance Corporation Act, as amended, 1,143 loans. These loans, together with increases during thequarterofloanspreviouslyauthorized, aggregated $332,965,585.35 as follows: $158,401,087.83 to banks and trust companies (including $94,126,783.03 to aid in the reorganization or liquidation of banks that are closed orin process ofliquidation); $5,360,079.11 to building andloan associations;$4,984,704.78 toinsurance companies;$56,589, 551.93 to mortgage loan companies; $115,000 to credit unions; $6,300,850 to joint-stock land banks; $384,924.92 to agricultural credit corporations; $58,296,703.78 (rediscounts) to regional agri cultural credit corporations;$476,100 to livestockcredit corporations; and $42,056,583 to railroads. During the second quarter of 1933, the Corporation, under the Emergency Relief and Construction Act of 1932, as amended, made funds available for purposes of relief and work relief, and authorized loans or contracts, aggregating $94,297,408.66 as follows: Under the provisions of section 1, title I,$60,233,460.78 was made available for purposes of relief and work relief; under the provisions of section 201 (a), title II, as amended, loans or contracts totaling $33,609, 338.45 were authorized for self-liquidating projects (including $10,450,000 for financing the repair or reconstruction of buildings damaged by earthquake, fire, tornado, or cyclone in 1933); and under the provisions of section 201 (d), title II, loans aggregating $454,609.43,were authorized to aid in financing the carrying and orderly marketing of agricultural commodities and livestockproduced in the United States. During the second quarter of 1933, the Corporation, under section 304, title III, of the Bank Conservation Act, as amended, authorized loans in the amount of $10,935,000 secured by the preferred stock ofbanks and trust companies; authorized subscriptions for preferred 1 2 REPORT OF T H E RECONSTRUCTION FI NA NCE CORPORATION stock of banks and trust companies in the amount of $21,350,500; and authorized the purchase of debentures of a bank in the amount of $200,000. Summarizing the above, the Corporation, during the second quarter of 1933, made 1,401 authorizations aggregating $459,748,494.01. Cancelations or withdrawals during the second quarter of 1933 of loans authorized from February 2, 1932, to June 30, 1933, inclusive, aggregated $78,834,054.68. uring the second quarter of 1933, the Corporation disbursed $436,983,437.43 and received repayments (exclusive of amounts unallocated, pending advices, as of June 30, 1933) in the aggregate amount of $159,306,853.73. The increase in the amount outstanding on June 30, 1933, as compared with March 31, 1933, was $277,676,583.70. During the entire period from the organization of the Corpora tion on February 2, 1932, to June 30, 1933, inclusive, the Corpora tion authorized, under section 5 of the Reconstruction Finance Corporation Act, as amended, 13,394 separate loans to 7,651 insti tutions, aggregating $2,406,215,816.63, as follows: $1,395,056,710.37 to 6,251 banks and trust companies (including $160,998,570.08 to aid in the reorganization or liquidation of 667 banks that are closed or in process of liquidation); $115,433,715.27 to 987 building and loan associations; $97,812,767.51 to 123 insurance companies; $190,149,888.50 to 133 mortgage loan companies; $607,001 to 4 credit unions; $30,500,000 to 9 Federal land banks; $17,593,672.68 to 24 joint-stock land banks; $9,250,000 to 8 Federal intermediate credit banks; $4,788,932.36 to 17 agricultural credit corporations; $123,394,300.09 (rediscounts) to 9 regional agricultural credit cor porations; $13,789,402.85 to 19 livestock credit corporations; and $407,839,426 to 67 railroads (including $18,946,708 to 8 railroad receivers). From July 21, 1932, the date of the enactment of the Emergency Relief and Construction Act of 1932, to June 30, 1933, inclusive, the Corporation made funds available for purposes of relief and work relief, and authorized loans or contracts to 251 institutions in the aggregate amount of$586,910,102.54 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 $230,899,770.24 were authorized to 182 institutions for self-liquidating projects (including $10,450,000 to 6 institutions for financing the repair or reconstructionof buildingsdamaged by earth quake, fire, tornado, or cyclone in 1933); and under the provisions of section 201 (d), title II, loans aggregating $56,010,332.30 were authorized to 25 institutions to aid in financing the carrying and orderlymarketing ofagricultural commodities and livestockproduced in the United States. Under the Bank Conservation Act, as amended, the Corporation from March 9, 1933, to June 30, 1933, inclusive, authorized 10 loans in the amount of $12,185,000, secured by the preferred stock of banks and trust companies; authorized subscriptions for preferred stock of 39 banks and trust companies in the amount of $35,033,000; and authorized the purchase of debentures of a bank in the amount of $200,000. REPORT O F THE RECONSTRUCTION FINANCE CORPORATION 3 Summarizing the foregoing, the Corporation, during the entire pe riod from February 2, 1932, to June 30, 1933, inclusive, made 14,108 authorizations aggregating $3,040,543,919.17. Of the total amount authorized, $246,511,696.63 was later withdrawn or canceled. At the close of June 30, 1933, the Corporation had disbursed $2,458,758,335.72 and repayments (exclusive of amounts unallocated, nding advices, as of June 30, 1933) amounted to $583,512,003.43, eaving$1,875,246,332.29outstandingon thebooksoftheCorporation. In addition, the Corporation had outstanding on June 30, 1933, agreements to make loans, and subscriptions for, and loans on, pre ferred stock of banks, and purchases of debentures of banks, totaling $274,494,034.97 upon the performance of specified conditions. During the second quarter of 1933, the Corporation paid over to the Secretary of Agriculture the sum of $45,000,000 in accordance with the provisions of section 2 of the Reconstruction Finance Cor poration Act, as amended, and the act approved February 4, 1933, as amended. This made a total of $135,000,000 paid to the Secre taryofAgriculture from February 2, 1932, to June 30, 1933, inclusive. Ofthissum, the Secretary of Agriculture had returned $20,000,000 to the close of June 30, 1933. Pursuant to the provisions of section 201 (e) of the Emergency R e liefand Construction Act of 1932, the Corporation during the second quarter of 1933 paid in $500,000 as capital of a regional agricultural credit corporation from the unexpended balance of the amounts allo cated and made available to the Secretary of Agriculture under sec tion 2 of the Reconstruction Finance Corporation Act, as amended. From July 21, 1932, the date of the enactment of the Emergency R e liefand Construction Act of 1932, to June 30, 1933, the Corporation subscribed for and paid in $44,500,000 as capital of the regional agricultural credit corporations. 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, the Corporation, during the second quar ter of 1933, paid $12,350,000 to the Secretary of the Treasury for the purpose of making payments upon stock of Federal home loan banks subscribed for by him. This made a total of$42,970,000 paid :the Secretary of the Treasury for this purpose to the close ofJune 0, 1933. During April, 1933, $115,000,000 of series B 3% percent notes, authorized by the board of directors on February 16, 1933, were sold to the Secretary of the Treasury. As of the close of business on April 30, 1933, $1,000,000,000 series A 3% percent notes authorized by the board of directors on October 27, 1932, and $335,000,000 of the$500,000,000 series B 3% percent notes, authorized by the board of directors on February 16,1933, had been issued by the Corpora tion and sold to the Secretary of the Treasury. The authorization for the remaining $165,000,000 series B notes which had not been ... The series A and series B notes in the aggre gate amount of $1,335,000,000 matured on April 30, 1933. On April 29, 1933, the Corporation authorized the issuance of notes in the issued was aggregate principal amount of $2,000,000,000, designated as series C, dated May 1, 1933, maturing November 1, 1933, and bearing interest at the rate of 3% percent per annum. Of this amount, 4 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION $1,335,000,000 was accepted by the Secretaryof the Treasury in ex change for the Corporation's outstanding notes in an equivalent principal amount. During May and June, 1933, $250,000,000 of the remaining$665,000,000seriesC notesweresold to theSecretaryofthe Treasury,making a totalof$1,585,000,000ofnotesoutstandingatthe close of June 30, 1933. On May 27, 1933, theCorporation, pursuant to the Executiveorder issued by the President of the United States on March 27, 1933, trans ferred to the jurisdiction and control of the Farm Credit Adminis tration the functions of the Reconstruction Finance Corporation and its board of directors relating to the appointment of officers and agents to manage regional agricultural credit corporations formed under section 201 (e) of the Emergency Relief and Construction Act of 1932;relating to the establishment ofrulesand regulationsforsuch management; and relating to the approval of loans and advances made by such corporations and of the terms and conditions thereof. Under the Executive order, records, property (including office equip ment), and personnel used and employed in the execution of the func tions transferred, likewise were transferred to the jurisdiction and control of the Farm Credit Administration. All power, authority, and duties conferred by law upon any officer, executive agency, or head thereof, from which or from whom transfer was to be made, in relation to the executive agency or function transferred, were trans ferred to and vested in the Governor of the Farm Credit Administra tion by the Executive order. While the management and functions of the regional agricultural credit corporations are transferred to the Farm Credit Administration, the Reconstruction Finance Corporation will continue topay all expensesincurred inconnection with the opera tion of these corporations, as provided in section 201 (e) of the E m e r gency Reliefand Construction Act of 1932. The Federal Emergency Relief Act of 1933, approved May 12, 1933, affects the Reconstruction Finance Corporation as follows: After the expiration of ten days after the date upon which the Federal Emer ency Relief Administrator has qualified and has taken office, no application shall e approved by the Reconstruction Finance Corporation under the provisions of title I of the Emergency Relief and Construction Act of 1932, and the Federal Emergency Relief Administrator shall have access to all files and records of the Reconstruction Finance Corporation relatingto theadministration offunds under title I of such Act. At the expiration of such ten-day period, the unexpended and unobligated balance of the funds authorized under title I of such Act shall be available for the purposes of this Act. As of the close of business May 31, 1933, the Corporation, upon the applications of the governors of States and Territories, had made available the $300,000,000 authorized by section 1, title I, of the Emergency Relief and Construction Act of 1932. The act further provides: The Reconstruction Finance Corporation is authorized and directed to make available out of the funds of the Corporation not to exceed $500,000,000, in addition to the funds authorized under title I of the Emergency Relief and C o n struction Act of 1932, for expenditure under the provisions of this Act upon cer tification by the Federal Emergency Relief Administrator. The Administrator upon approving a grant toany State shallso certifytothe Reconstruction Finance orporation which shall, except upon revocation of a certificate by the Adminis trator, make payments without delay to the State in such amounts and at such times as may be prescribed in the certificate. RE POR T OF T H E RECONSTRUCTION FI NA N CE CORPORATION 5 Pursuant to the above provisions, the Corporation during the second quarter made payments to States in the aggregate amount of $37,910,142. Section 30 (a) of the Emergency Farm Mortgage Act of 1933 affects the Reconstruction Finance Corporation as follows: The Reconstruction Finance Corporation is authorized and directed to make available to the Farm Loan Commissioner, out of the funds of the Corporation, the sum of $100,000,000, to be used, for a period not exceeding two years from thedate of enactment of this Act, for the purpose of making loans to the joint stock land banks organized and doing business under the Federal Farm Loan Act, as amended, at a rate of interest not to exceed 4 per centum per annum, payable annually. Such loans shall be made upon application therefor by such banks and upon compliance with the requirements of this section. The amount which m a y be loaned hereunder to any such bank shall not exceed an amount having the same proportion to the said $100,000,000, as the unpaid principal of the mortgages held by such bank on the date of enactment of this Act bears to the total amount of the unpaid principal of the mortgages held by all the joint stock land banks on such date. Under section 32, the Reconstruction Finance Corporation is authorized and directed to allocate and make available to the farm loan commissioner the sum of $200,000,000, or so much thereof as may be necessary, to be used for the purpose of making loans sub ject to certain conditions to any farmer, secured by a first or second mortgage upon the whole or part of the farm property, real or per sonal, including crops, of the farmer. Pursuant to the above-mentioned section 30 (a) and section 32 of the Emergency Farm Mortgage Act of 1933, the Corporation dur ing the second quarter allocated to the land bank commissioner (for merly the farm loan commissioner) the sum of $100,000,000 for the purpose of making loans to the joint-stock land banks, and the sum of$200,000,000 for the purpose of making loans to farmers. During the second quarter, the Corporation paid $2,000,000 to the com missioner for the purpose of making loans to farmers under section 32 and $200,000 for the purpose of making loans to joint-stock land banks under section 30 (a), making a total of $2,200,000 paid to him at the close of June 30, 1933. Under the Home Owners' Loan Act of 1933, approved June 13, 1933, there is created the Home Owners' Loan Corporation with a capitalstockofnot toexceed $200,000,000 tobe subscribedforby the Secretary of the Treasury. To enable him to make payments on suchstockwhen called,section4 (b) providesthat— the Reconstruction Finance Corporation is authorized and directed to allocate and make available to the Secretary of the Treasury the sum of $200,000,000, or so much thereof as m ay be necessary, and for such purpose the amount of notes, bonds, debentures, or other such obligations which the Reconstruction Finance Corporation is authorized and empowered under section 9 of the Recon struction Finance Corporation Act, as amended, to have outstanding at any onetime, ishereby increased by such amounts asmay be necessary. Under thissection, the corporation during the second quarter allo cated$200,000,000totheSecretaryoftheTreasury,ofwhich$1,000,000 hadbeen paid tohim atthecloseofJune 30, 1933. Under the act of Congress approved June 14, 1933, amending section5 of the Reconstruction Finance Corporation Act, the limita tion of $200,000,000 in the amount that could be used for the reliefof banksthatareclosedorinprocessofliquidation waseliminated. 6 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION Section 301, title III, of the National Industrial Recovery Act, approved June 16, 1933, provides that after the expiration of 10 days after the date upon which the Federal Emergency Administrator of PublicWorks has qualified and taken office— (1) no application shall be approved by the Reconstruction Finance Corporation under the provisions of subsection (a) of section 201 of the Emergency Relief and Construction Act of 1932, as amended, and (2) the Administrator shall have access to all applications, files, and records of the Reconstruction Finance Cor poration relating to loans and contracts and the administration of funds under such subsection: Provided, That the Reconstruction Finance Corporation may issue funds to a borrower under such subsection (a) prior to January 23, 1939, under the terms of any agreement or any commitment to bid upon or purchase bonds entered into with such borrower pursuant to an application approved prior to the date of termination, under this section, of the power of the Reconstruction Finance Corporation to approve applications. Under the provisions of the above section, the Corporation after June 26, 1933, ceased to act on applications for loans or contracts under section 201 (a), title II, as amended, of the Emergency Relief and Construction Act of 1932. The following tables are attached hereto: Table 1. Aggregate loans to each class of borrower, amounts of subscriptions for, and loans on, preferred stock of banks, and pur chases of capital notes and debentures of banks, during the second quarter of 1933, April 1 to June 30, 1933, inclusive, and during the period from February 2, 1932, to June 30, 1933, inclusive. Table 2. Number of new borrowers, by States and classes, number ofsubscriptions for, and loanson,preferred stock of banks, and n u m ber of purchases of capital notes and debentures of banks, by States, during thesecond quarter of 1933, April 1 to June 30, 1933,inclusive. Table 3. Number of authorizations, by States and classes, during thesecond quarter of 1933, April 1 to June 30, 1933,inclusive. Table 4. Number of borrowers, by States and classes, number of subscriptions for, and loanson, preferred stockof banks, and number of purchases of capital notes and debentures of banks, by States, February 2, 1932, to June 30, 1933, inclusive. Table 5. Number of authorizations, by States and classes, Feb ruary 2, 1932, to June 30, 1933, inclusive. Table 6. Amount of authorizations, disbursements, repayments, and amounts outstanding from February 2, 1932, to June 30, 1933, inclusive, by months and classes. Table 7. Number of borrowers and amounts of loans authorized under section 5 of the Reconstruction Finance Corporation Act, as amended, February 2, 1932, to June 30, 1933, inclusive, by size of cities or towns. Table 8. Names and compensation of directors, officers, and e m ployeesofthe Reconstruction Finance Corporation receivingfrom the Corporation more than $400 per month as ofJune 30, 1933. Table 9. Statement of cash receipts and expenditures during the second quarter, April 1, 1933, to June 30, 1933, inclusive. (Corpo ration’s accounts with Treasurer of United States.) Table 10. Statement of cash receipts and expenditures, January 1, 1933, toJune30,1933,inclusive. (Corporation'saccountswithTreas urer of United States.) REPORT OF T H E RECONSTRUCTION FINANCE 7 CORPORATION Table 11. Statement of condition of the Corporation asoftheclose ofbusiness June 30, 1933. Respectfully, (Signed) JEssF. H. Jon Es, Chairman. (Signed) GEoRGE R. CooksEY, Secretary. 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Tº 5 5e º5 Ëg 5 5 l| | | |i g FE| 5Ee È º È.?"º #5ä | | | || 51|B|e £ " | 5 Ë È | 5 g |’ I . 5 | 3 l .| 33 #¡ ¿¡ 57# #£555'gº | # ¡ |g3 EË | § 7 |35 ¡ ? & + FË |•• £§ §,# | |8# ?| # § 53| |5 | | ;| # | -| # | ? | , f -g # | # | ï ˧ Ë| # | -| 5 | § 33| g 3Ë 3 # :| 3|-| 5 # |$•| |ä | # ? # | | | -| * ± #| | # | š | 5 5 : : : |º " # | # | |3 # E | F # Ê- € # „ *Ë T º 5 £# # t 7 €# 7 2 º | || ||| | | 5 # | º,$ c ? ,# | 5 .2 ? 3# # 5 $| s .|3 5 |# . | || I*4 | g5 | º | - ? - $5 | § f | 8 a| §4 § REPORT u o q t . A j o s u o o x q u e q º q q u o p u n # # # # A o u a º u a t u º i º q u º p u n z € 6 I J O 1 0 w u o q o n u n º s p u-u o ø o u r p e u s e e p º p u ø u r e · sp e ‘ o y u o p n e u o d u o o º o u e u u o q o n u s u o o º H 0 ) . J o g r o º s u º p u m |c # g -? - ?3| | | - |] # E - ?© |a.° | | • |# | - | º 5|~|• º ? Ë | Ë 5|8 || # ? 55 ? 3 '| | ##*| || È| -Ë || | | º |# 5| g| r È # - r5 5| | ? - ±? b t- | º S I A x o n . q u º x i w º n I 1 Z 9 ~ ç ~ ø I u ~ q ~ q ~ s ~ ~ º ~ ~ u Å r º s e i º r H a w º N . 0 + | ~ ~ ~ ~ ~ ~ 0 0 x º T ^ ^ ^ ^ ^ N ------- 1. N º C 5 a o ro r l i t n a h 3. 1 11 N Da 4 o kt r a 3 th ºº 3 N Y o . r k e 68 w- - 58241545218654612 2-------7 13 36813 5761 964 C S 7 ar o 1l u 2 i n ta 2 hS a o k u o a h 5 1 8t 0 7 P 7 e ns 2 y l v 1 a n i a . 2 R I | 2 s 6 l h a n | o d | de -| D 16 2O r e 2 g o n 0 --- 2 5 O k4l ah 4 o ma 37 0 io 1 --2 -- 32 5 1 39 10 4 6 1 || 3 4 9 1 6 , 0 43 , 2 0 4 7 9 8 , 1 4 1 b c of l or t r a in to I 1 7 e i o n a l q r c u g n o h i 5 a l d n k s i u a z n t d s e 6 i o s . d n º i º: 4; K L 6; 1; f as C t c 1 or in b d e of by r l o a u i y c l r e u 9 i o n c t m l a h p f n s 3 r o l q d a t i r u n c a 3 e o g n w d i s e t o k g i n a , e o d r : s g , n M l to m of o i r Ae * o f n cc a f e o i a l r v t i c u d e i r o. n s e g n ; s 1. T 4; a en ie n s ee ,, 18 REPORT OF T H E RECONSTRUCTION FI NANC E CORPORATION TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts outstandingfrom Feb. 2, 1932, to June 30, 1933, inclusive, by months and classes GRAND TOTAL Amount out A mo u nt || Am oun t disizedauthor1 bursed Month Amountrepaid standing; ih ne ..."; t period 1932 February-----------------------March-----April-------- May-------June-------- July--------August-----September October --November---December------------------------ $91,601,057.00 142,333,075.06 228,771,667.33 199,478,025.39 388,254, 246.63 170,934,728.59 189,068, 106.31 138,480,782.93 162,387,944.36 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 | Total---------------------- 1,936,418,672.57 | 1,524,747,138.82 $18,845.00 $70,849, 572.52 8,873,883.30 112,604,007. 19 7,010,505.00 148,532,818.23 16,441,871. 10 142,541,688.02 *48,686,069.42 2249,590,747.17 34,616, 172.80 a 136,533,759.06 35,239,729.05 | * 110,941,184.66 *44,905,818.87 * 27,214,895.04 * 47,566,620. 20 *90,057, 129.48 *27,181,298.04 *33,839,260.92 *29,423,821. 18 * 102,077,442.57 299,964,633.96 ||1,224,782,504.86 1933 January-------------------------February * 142,844,447.43 *283, 171,473.85 *218,360,831.31 117,995,293.92 || 2:32,453,520.63 285, 541,773. 29 199,499, 330.83 35,973, 173.44 | * 163,526,157.39 179,533, 134.72 *55,813,821.67 2 123,719,313.05 *644,376,752.59 497,027,759.47 * 124,240,515. 74 1372,787,243.73 117,500,398.87 195,805,854.81. 123,677, 183.75 40,215,234.96 46,802,090.77 *72,289,528.00 77,285, 163.91 149,003,764.04 51,387, 655.75 162, 529, 133.14 141, 533,512.64 155,685,848.23 Total second quarter------- 459, 748,494.01 436,983,437.43 * 159,306,853.73 277,676, 583.70 Grand total.---------------- 3,040, 543,919.17 2,458,758, 335.72 *583,512,003.43 1,875,246,332.29 T O T A L SEC. 5, R E C O N S T R U C T I O N F I N AN C E C O R P O R A T I O N ACT, AS A M E N D E D .736.7% 81,467,467. 1,623,374,344. 44 - 2449,875,886.84 100,727,623.93 110,736,989.00 121,500,972.42 Grand total.---------See footnotes on p. 27. - - - - - - 845 00 30 00 0 87 42 80 05 87 65 04 3 78 ; :i: ;i;#i*;. 16, #. *29,31 i * 58,126,422. 1,427,603, 122.64 *299,849, 177.01 21,127, 753,945.63 75,183,421.58 a32,309,239.49 159,688, 523.62 235,912,413.84 122,840,052.22 | *55,687, 255.63 January February--March--------------------------- Total, second quarter------ $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 87,440,361.93 357,711,997.42 *42,874, 182.09 - 123,776, 109.78 *67,152,796.59 2123,908,908. 96 || 2233,803,088.46 62,758,894.98 40,104,964. 59 135,626,841.22 46,260,533.40 99,193,850.52 | * 71,954,270.91 22,653,930.39 89,366,307.82 27,239,579.61 332,965, 585.35 297,579, 586.72 |*158, 319,768.90 139,259,817.82 2,406,215,816.63 2,082,894,706.78 |* 582,077,854.87 1,500,816,851.91 REPORT OF THE RECONSTRUCTION FINANCE CORPORATION 19 T A BL E 6 . - A m o u n t o authorizations, disbursements, repayments, and amounts outstandingfrom Feb.2, 1932, toJune 30, 1938, inclusive, by months and classes— Continued B A N K S A N D T R U S T C O M P A N I E S (INCLUDING RECEIVERS) A mmoouunn t a ut h authorized I Month A mn o a ouunntt di oilsbursed Amountrepaid * :h:e: standing; in .::: '::: ;:::t period $39,546, 160.52 $18,845.00 $39,527,315.52 85,870,980.49 7,651,531.30 78,219,449. 19 112, 153,001.36 6,889,778.45 105,263,222.91 108,192,844.29 12,585,480.24 95,607,364.05 151,624,949.99 || 245,346,776.63 | *106,278, 173.36 104, 166,283.74 28,200,820.53 75,965,463.21 77,635,909.68 31,301, 194.49 46,334,715, 19 27,401,650.02 || 2 40,413, 591.02 | 2 |13,011,941.00 80,746,257.61 40,317,817. 54 40,428,440. 07 20,441,708. 99 || 722,466,223.72 ** 2,024, 514.73 43, 102,313.33 21,057,389. 14 *22,044,924. 19 949, 527,500.09 56,133,284.40 * 132,422,465.58 298,572,372.47 Total, first quarter--------- Total, second quarter------ 850,882,060.02 ||2256,249,448.06 || 2594,632, 611.96 43, 165,290.40 | *26,006,849. 40 78, 112,411.70 || 220,684,801.71 62,900,655.93 || 240,733,195. 16 * 17,158,441.00 * 57,427,609.99 222,167,460.77 2287, 128,122.45 184, 178,358.03 87,424,846.27 *96,753,511.76 63,489,853.51 55,458,464. 59 39,452,769.73 23,914,051.40 87,947,700.34 12,034,738.64 28,431,929.63 37,890, 144.02 363, 432,972.83 44,517,878.23 50,057,556.32 *51,398,234.19 158,401,087.83 123,896,490.38 |s 129,755,046.48 *5,858, 556.10 Grand total.---------------- 1,395,056,710.37 1,158,956,908.43 ||3473,429,340.81 685,527,567.62 BUILDING A N D L O A N ASSOCIATIONS $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 3,764,500.00 3,391,532.00 4,985,274.32 $2,430,500.00 ----------------10, 170,186.68 $60,066. 56 19,624,016. 39 411,022.74 9,823,631. 19 537,009. 15 16,577,471. 48 21, 206,390.83 12,180,063. 17 * 1,568, 165.62 9,435, 115. * 1,255,849. 12 5,080,954.91 * 1,377,634.44 3,830,807.59 a 1,619, 102.05 4,710,367.98 * 1,597,305. 14 $2,430, 500.00 10, 110, 120. 12 19,212,993.65 9,286,622.04 * 15,371,080.65 *10,611,897.55 *8,179,266. 16 *3,703,320.47 a2,211,705. 54 23, 113,062.84 99,710,044.75 93,863, 114.67 *9,632, 545.65 *84,230,569.02 4,294,724.89 2,849,559.28 3,219,307. 24 3,412,672.47 4,093,224.60 1,697,279.66 22,289, 174.86 22,081,915. 55 *2,606,799.34 *1,123,497.61 *2,011,309.05 2 1909, 519.68 10,363,591.41 9,203,176.73 26,977,889.75 a2,225,286.98 1,691,000.00 1,841,231.87 1,827,847. 24 2,375,255.24 1,888,968.45 1,741,824.86 4,017,879.50 3,134,003. 93 33,010,645.83 * 1,642, 624.26 * 1,245,035.48 41,268,820. 97 6,006,048.55 | * 10,162,529.26 44,156, 480.71 5,360,079.11 Grand total.---------------See footnotes on p. 27. 115,433,715.27 109,072,339.95 26,772,964.66 82,209,375.29 20 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION TABLE 6.-Amount o authorizations, disbursements, repayments, and amounts outstandingfrom Feb. 2, 1932, to June 30, 1933, inclusive, by months and classes— Continued INSURANCE COMPANIES A m o u n t authorh iz Month A m o u n t dis dis- bursed Amount repaid - * standing; :::º:::º: in j tº period $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 $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 $74,400.00 17,991.37 378,115.24 99,965. 64 409, 111.04 296,009. 69 924,791.50 ,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 83,048,931.66 68,037,618.92 5,588,738.52 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 1249, 134.17 315,230.93 453,482.77 *158, 118.02 29, 199,358. 28 9,779, 131.07 10,897,993. 39 21,087,034.32 19,810, 959.07 1,624,000.00 1,286,322.94 2,074,381.84 1,678,000.00 2,256,149.25 947,098.39 1,453,255.23 960,955.02 *804,994. 56 224,744. 77 1,295, 194.23 142, 103.83 2 Total, second quarter------ 4,984,704. 78 4,881,247.64 *3,219, 204.81 1,662,042.83 Grand total.---------------- 97,812,767.51 83,816,859.95 39,894,977.65 73,921,882. 30 MORTGAGE March--------------------------April---------ay---------- June---------July----------August---------September-----October November-----D e ce m b er Total January February. March--------------------------- LOAN COMPANIES $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 4,392,500.00 3,805,800.00 2,792,602.61 $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. 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 2,002,729.34 1,317,632.34 2,620,710.93 *2,936,546.08 $1,277,000. 7,819,765.15 968,087.7 51,970,977.79 6,231,863. 1,758, 150.07 1,480, 539.58 1,204,099.13 685,097.00 “315,835.15 93,831,902.61 88,402,020.39 211,322,275.50 *77,079,744.89 3,262,000.00 31,658, 133.96 4,808,300.00 4,087, 585.40 32,031,442.60 4,308, 125.25 1,703, 231.44 *1,683, 530. 1767,237.17 2,384,353.96 *30,347,911.94 23, 540,888.08 39,728,433.96 40,427, 153.25 24, 153,999.27 236,273, 153.98 1,344,450.00 5,417,458.00 49,827,643.93 520,010. 92 727,724.48 46, 197,567.68 3,572, 569, 70 772,216.77 *546,453. 60 43,052,558.78 *44,492.29 45,651, 114.08 - Total, second quarter------ 56, 589, 551.93 47,445,303.08 34,891,240.07 42, 554,063.01 Grand total.---------------- 190,149,888.50 176,274,476.72 320,367,514.84 155,906,961.88 See footnotes on p. 27. REPORT OF TH E RECONSTRUCTION FINANCE CORPORATION 21 TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts outstandingfrom Feb. 2, 1932, toJune 30, 1933, inclusive,by months and classes— Continued CREDIT UNIONS t auth Am oun t authorized 1 Month d A m o u n t disbursed *::::::o u t | Amount repaid Standing; in . . . t he period .00 .00 .00 .00 .00 .00 .00 19,555.00 9,555.00 * 650.00 *1,150.00 65, 506.00 4895.00 8,838.00 431,260.00 305.00 9,250.00 * 1,875.00 * 2,140.00 1,875.00 2,140.00 Total, first quarter--------- $338,437.00 25,897.00 5,350.00 4 1,235.00 4,320.00 5,235.00 1,095.00 1,150.00 41,095.00 *1,150.00 114,950.70 3 545.00 Total, Second quarter------ 115,000.00 115,495.70 32,790.00 112,705. 70 Grand total.---------------- 607, 001.00 565, 148.70 3 15,948.00 549,200.70 FEDE RAL L AN D BANKS 1,000,000.00 500,000.00 1,500,000.00 Total, second quarter--G r a n d total.---- - - See footnotes on p. 27. - - - 3,000,000.00 30,500,000.00 21,800,000.00 22 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION TABLE 6.-Amount o authorizations, disbursements, repayments, and amounts outstandingfrom Feb. 2, 1932, toJune 30, 1933, inclusive, by months and classes— Continued JOINT-STOCK L A N D disbursed A m o u n t author- M ont h BANKS Amount ized i Amount repaid - *.::: g; ::the i ::n: .::: .: s period - - - - $775,000.00 ------------------|---------------------------------$724,877. 11 $724,877.11 190,000.00 5,000. $21,031.06 *16,031.06 305,000.00 134,339.47 2,989.50 131,349.97 150,000.00 286,592.54 518.90 286,073.64 55,000.00 128,382.45 5,843.00 122.539.45 576,000.00 16,617. 55 1,578,42 15,039.13 595,000.00 168, 102.43 11,416.90 156,685. 53 2,126,000.00 447,215.54 11,385.04 435,830.50 1,525,000.00 616,718, 53 7,781.50 608,937. 03 - - - - - - - - - - - - - - 6,297,000.00 2,527,845.62 62,544,32 2,465,301.30 676,000.00 1,083,822.68 3,236,000.00 153,352.93 2,216,010.83 425,764.41 6,942.54 3,091.95 27, 149.82 146,410.39 2,212,918. 88 *418,614.59 4,995,822.68 2,795, 128. 17 *17, 184. 31 22,777,943.86 2,270,850.00 1,539,453.87 824, 170.65 258,000.00 32,041.07 39,710.48 $38,210.31 1,507,412.80 784,460. 17 219,789.69 * wrv ºv- 3, 130,000.00 Total, second quarter------ 6,300,850.00 2,621,624.52 a 109,961.86 2,511,662.66 Grand total.---------------- 17, 593,672.68 7,944,598.31 3189,690.49 7,754,907.82 FEDER AL INTERMEDIATE CREDIT BANKS 1933 March--------------------------- $9,250,000.00 $9,250,000.00 $9,250,000.00 ||----------------- A GR I C UL T U RA L CREDIT CORPOR ATIONS $21,200.00 - Total.---------------------- - - - - 84,802.05 216,438. 07 444,783.85 594,021.62 702, 129.04 1,194,785.15 135,809. 15 225,882.05 $1,000.00 ----------------20,200.00 ----------------18,650.00 $600.00 246,515.87 2,186.90 400,621.07 2,647. 41 534, 151.82 7,613.68 539,074.94 74,450.98 1,206,884.22 356,814.61 276,909.98 352,082.06 212,619.43 285,914.76 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 2,647.85 244,722.7 207,830. 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 2*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 * 126,484.79 *94,971. 26 *7,475.09 13,054.75 - - - - - - - - - - - - - $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 Total, second quarter------ 384,924.92 464,345.92 *553,737. 52 *89,391.60 Grand total.---------------- 4,788,932.36 4,324,295.92 *2,186,377.64 2, 137,918.28 See footnotes on p. 27. REPORT OF THE RECONSTRUCTION FINANCE CORPORATION 23 TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts outstandingfrom Feb. 2, 1932, toJune 30, 1933, inclusive, by months and classes— Continued R E GI O N AL A GR I CU LT UR A L CREDIT C ORPORATIONS A Inount izedauthor1 th M o n th A mm o u n tt di oils- bursed A mou nt repaid * standing; ..for.the in * crease period $7,285,972.50 $5,372,062.60 $655.03 $5,371,407. 57 15,360, 112.84 20,758,427.15 21,693,083.82 15,269,909.65 18,266,632.88 19,706,023.74 104,646.84 *1,798,634.47 a1,330,385.86 15,165,262.81 * 16,467,998.41 218,375,637.88 57,811,623.81 53,242, 566. 27 23, 233,667.17 a50,008,899. 10 18, 119,962.42 22,855, 433.69 17,321,307.67 19,214,707. 12 23,262,884.81 17,813,925.71 2,009,966. 2,652,302.30 33,659,336.96 17,204,741.02 20,610,582. 51 14, 154,588.75 60,291, 517.64 38,321,605.36 51,969,912.28 118,906, 146.51 | * 11,555,927. 56 107,350,218.95 Total, second quarter------ 58,296,703.78 Grand total.---------------- 123,394,300.09 LIVESTOCK CREDIT CORPORATI ONS $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 $470,990.00 ||------$4,508.69 1,659, 550.00 20,249.41 1,214,017.01 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 - - - - - - - - - - $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. * 1,426,989.59 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 1919,864. 29 2397, 576.56 * 1,384, 186.08 ** 871,137. 12 * -397,576. 56 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 167,700.00 118,127.17 22,771,026.93 *+2,652,899.76 260, 100.00 100,000.00 116,000.00 111,000.00 100,000.00 116,000.00 359,976.98 343,254.35 *334,545.83 4248, 976.98 *243,254.35 *218,545.83 Total, second quarter------ 476,100.00 327,000.00 31,037,777. 16 4710,777. 16 Grand total.---------------- 13,789,402.85 12,255,530.78 37,871,062.91 4,384,467.87 Seefootnotes on p. 27. 24 REPORT OF THE RECONSTRUCTION FINANCE CORPORATION TABLE 6.-Amount o authorizations, disbursements, repayments, and amounts outstandingfrom Feb. 2, 1932, toJune 30,1933, inclusive, by months and classes— Continued R AI L R OA D S (INCLUDING RECEIVERS) h A m o u n t authorized 1 M on th *:::::o u t disAmount Amountrepaid bursed standing; in . . . the period $46,975,757.00 13,812,000.00 37,931,457.00 60,923,538.00 54,239,972.00 16,392,085.00 12,798, 583.00 21,293,541.00 25,926,269.00 38,226,000.00 8,915,891.00 $31,322,257.00 ----------------,791,500.00 1,147,952.00 18,816,333.00 ----------------15,898,637.00 2,815,727.74 ,824,813.50 2,203,000.00 27,545,736.00 2,990,000.00 41,963,445.50 224,884.31 12, 851. 260,000.00 24,931,816.00 1,910,500.00 ,682,808.00 162,498.66 22,645,074.48 125,000.00 $31,322,257.00 ,643, 548.00 18,816,333.00 13,082,909.26 52,621,813.50 4,555,736.00 41,738. 561.19 12,628,851.00 23,021,316.00 8,520,309.34 22,520,074.48 337,435,093.00 284,311,271.48 11,839,562.71 272,471,708.77 January-------------------------February-----------------------March--------------------------- 3,000,000.00 19,449,922.00 5,897,828.00 7,583,551.64 24,510, 173.80 14,792,891.30 14,004.00 * 102,189.40 7,569,547.64 16,187,755.98 * 14,690,701.90 Total, first quarter--------- 28,347,750.00 46,886,616.74 *8,438,611. 22 238,448,005. 52 Total.---------------------1933 322,417.82 12,275,136.31 |----------------17,925,716.98 265,795.18 18,329,660.00 3.81. 20 12,275,136.31 17,659,921.80 18,329,578. 80 Total, second quarter------ 42,056,583.00 48,530, 513.29 *265,876.38 48,264,636.91 Grand total.---------------- 407,839,426.00 379,728,401.51 320, 544,050.31 359, 184,351. 20 TOTAL, E M E R G E N C Y RELIEF A N D CONSTRUCTION ACT O F 1932, A S A M E N D E D $3,000,000.00 -----------------63,931,669.00 $3,947, 884.00 73, 128,502.22 10,211,699.75 103,002,382.63 17,270,389, 52 22,939, 183.60 21,653,141.09 47,042, 590.68 44,060,901.82 $2,034. 55 3,541.00 109,881. 40 17,268,354.97 21,649,600.09 43,951,020. 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 2 179,568,365.75 126,565,762.05 *331,606.78 126,234,155.27 54,201,509. 21 14,099,023.64 25,996,875.81 47, 159,003. 89 55,029,013. 59 6,497,833.23 110,270.37 541, 557.37 *335,257.09 47,048,733. 52 54,487,456.22 6,162,576. 14 Total, second quarter------ 94,297,408.66 108,685,850.71 *987,084.83 107,698,765.88 Grand total.---------------- 586,910, 102.54 332,395,628.94 * 1,434, 148. 56 330,961,480.38 See footnotes on p.27. REPORT of THE REConstEUCTION FINANCE CORPORATION TABLE 6 . - A m o u n t o 25 authorizations, disbursements, repayments, and amounts outstandingfrom Feb. 2, 1932, toJune 30, 1933, inclusive, by months and classes— Continued SELF-LIQUIDATING PROJECTS, SEC. 201 (a), T IT LE II (IN CLU DING _LO ANS F O R FINANCING REPAI R O R 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 t h h A m o u n t author- ized 1 * standing; Amountrepaid * . .. ' ;.in i.e A m o u n t di dis- bursed period - 1932 September----------------------October-------------- $53,105,000.00 ------------------|-----------------|----------------79,932,880.00 ------------------|4,324,744.00 $360,000.00 – $360,000.00 8,412,910.24 15,377,000.00 15,377,000.00 - 145,775,534.24 15,737,000.00 ----------------- - - - - - - - - - - - - - - - - 15,737,000.00 28,945, 100.00 224,810,372.20 * 17,759,425.35 2,600,000.00 327,000.00 2,020,000.00 2,600,000.00 327,000.00 2,020,000.00 251, 514,897. 55 4,947,000.00 ----------------- 4,947,000.00 5,002,217.00 2,784,525.64 25,822,595. 81 4,442,000.00 ----------------2,125,462.06 $20,000.00 2,924,819.35 * 17, 100.00 4,442,000.00 2,105,462.06 2,907,719.35 Total, second quarter------ 33,609,338.45 9,492,281.41 337,100.00 9,455, 181.41 Grand total.---------------- 230,899,770.24 30, 176,281.41 337,100.00 30, 139,181. 41 F i N A N C I N G O F A G R I C U L T U R A L C O M M O D I T I E S A N D L I V E S T O C K , SEC, 201 (d), T I T L E II Total, second quarter-Grand total Seefootnoteson p.27. $50,000,000.00 ,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. 14 281,802.20 438,000.00 60,000.00 32,302.20 75,295.96 104,024.04 144, 281. 14 60,759.60 2126,566.04 *111,978.94 14,536.36 ** 22,542.00 779,802. 20 211,622. 20 *331,606.78 2*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 3186,912.09 1,239,608.93 278,697.00 25,756.71 2,027,902.47 3483,839.83 1,544,062. 64 3,679,498.76 || 3930,903.56 2,748,595.20 454,609.43 56,010,332.30 - - - 26 REPORT OF T H E TABLE 6.-Amount o RECONSTRUCTION FINANCE CORPORATION authorizations, disbursements, repayments, and amounts outstandingfrom Feb. 2, 1982, to June 30, 1933, inclusive, by months and classes— Continued AMOUNTS MAD E AVAILABLE FOR RELIEF A N D h AAn n o u n t author- M on th ized 1 W ORK A m oouunt n t di disbursed R E L I E F , SEC. I, T I T L E Am oun t repaid - 1 * . . .in* standing; crease for th e period $3,347,884.00 10,211,699.75 16,818,809.40 20,462,864. 12 28,525,784.82 Total, first quarter--------- - - 112,492,873.22 79,967.042.09 49,435,416.00 348, 187,271.00 *29,650,979.00 40,179,570.14 39,408,511.25 41,819,058.46 40,179,570.14 39,408, 511.25 41,819,058.46 1127,273,666.00 121,407, 139.85 |----------------- 121,407. 139.85 48,973,962.78 11,259,498.00 41,367,124.59 |----------------52,438,197. 16 $334,900.00 3,360,345.08 * 131,245.00 41,367,124.59 52, 103,297. 16 3,229, 100.08 - - - - - - - - - - - - - - - - Total, second quarter------ 60,233,460.78 97, 165,666.83 3466,145.00 96,699, 521.83 Grand total.---------------- 300,000,000.00 298,539,848.77 •466,145.00 298,073,703. 77 T O T A L , B A N K C O N S E R V A T I O N AC T, A S A M E N D E D 1933 March--------------------------- $14,932,500.00 $12,750,000.00 ----------------- 7,600,000.00 16,697,500.00 8,188,000.00 $12,750,000.00 7,582,500.00 5,150,000.00 17,985, 500.00 Total, second quarter------ 32,485,500.00 30,718,000.00 ----------------- 30,718,000.00 Grand total.---------------- 47,418,000.00 43,468,000.00 ----------------- 43,468,000.00 LOANS O N P R E F E R R E D STO CK OF B AN KS 1933 March--------------------------- $1,250,000.00 $250,000.00 ----------------- $250,000.00 May----------------------------- 7,585,000.00 3,350,000.00 1,000,000.00 ----------------10,935,000.00 ----------------- 1,000,000.00 10,935,000.00 June----------------------------- Total, second quarter------ 10,935,000.00 11,935,000.00 ----------------- 11,935,000.00 Grand total.---------------- 12, 185,000.00 12,185,000.00 ----------------- 12,185,000.00 SUBSCRIPTIONS F O R P R E F E R R E D S T O C K O F B A N K S 1933 March--------------------------- $13,682,500.00 $12,500,000.00 ----------------- $12,500,000.00 April----------------------------- 7,400,000.00 9,112,500.00 4,838,000.00 7,582,500.00 ----------------4,150,000.00 ----------------6,850,500.00 ----------------- 7,582,500.00 4,150,000.00 500.00 By----------------------------June----------------------------- Total, second quarter------ 21,350,500.00 18,583,000.00 ----------------- 18,583,000.00 Grand total.---------------- 35,033,000.00 31,083,000.00 ----------------- 31,083,000.00 See footnotes on p. 27. REPORT of THE REConstruction FINANCE CORPORATION 27 TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts gº . " from Feb. 2, 1932, toJune 30, 1933, inclusive, by months and classes— ntinued PURCHA SES OF CAPITAL NO TE S A N D D E B E N T U R E S OF B AN KS Amount * - Amoºthor Anºflis. Month Am ou nt repaid ...; #. period 1933 April------$200,000.00 l------------------|-----------------|----------------June----------------------------------------------$200,000.00 ----------------$200,000.00 - - - - - - - - - - - - - - - - - - - - - - Total, second quarter------ 200,000.00 200,000.00 ----------------- 200,000.00 #ºsure have been adjusted on account of rescissions. v ise d. * Exclusive of repayments unallocated, pending advices, as of June 30, 1933. * Decrease. TABLE 7.-Number of borrowers and amounts of loans authorized under sec. 5 of the Reconstruction Finance Corporation Act, as amended, February 2, 1982, to June 30, 1933, inclusive, by sizeof cities ortowns Total, sporation ec.5, Reconstruction Finance Act, as amended 1 Cor Banks and trust companies Population of cities or t o w n s in which bor- Borrowers Authorizations Borrowers Authorizations r o w e r s are located N u m - |Percent ber 1of total 70.8 100,000to 199,999-200,000to 499,999. 500,000to999,999.1,000,000and over 135 92 127 114 8.0 7.2 3.5 3.0 2.2 1.5 2.0 1.8 Total.------ 6,251 100.0 - Amount Pe rc ent N u m - |Percent of totall ber 1of total $202,711,041. 40 7,553,326. 59 100,727,624. 22 87,785, 120.79 160,780, 568.53 121,431,500. 22 170,690,066.53 257, 561,784.46 225,815,677.63 14.5 4,628 61.2 4.9 7.2 6.3 11.5 8.7 12.2 18.5 16.2 588 618 368 342 222 3.11 269 212 7.8 8.2 4.9 4.5 2.9 4.1 3.6 2.8 1,395,056, 710.37 100.0 7,558 Amount Percent oftotal; $220,688, 138.57 73,821,270.48 124,549,745.77 108,364,567.91 191,225,098.79 147,208,577.21 258,736,601. 53 395,441, 521.96 315, 196,568.32 12.0 4.0 6.8 5.9 10.4 8.0 14.1 21.6 100.0 | 1,835,232,090. 54 100.0 17.2 *Exclusive ofrailroads,regionalagriculturalcreditcorporations, Federal land banks, and Federal inter te credit banks. 28 REPORT OF THE RECONSTRUCTION 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 June 30, 1933 W A S H I N G T O N OFFICE Basic Net salary per salary per Title Name mont Jones, Jesse H------------------------------ Chairman----------------------------- $833.33 Couch, Harvey C-------------------------- Director-833.33 McCarthy, Wilson------------------------d 833.33 Blaine, John J.-----------------------------833.33 Merriam, C. B----------------------------833.33 Taber, Frederic H-------------------------833.33 Talley, L ynn P----------------------------1,041.67 Reed, Stanley------------------------------ G e 1,041,67 Cooksey, George R------------------------- S 833.33 Mulligan, H. A.----------------------------833. 33 Plimpton, Francis T. P. 833.33 Fitts, William C--------------------------833.33 Guthrie, Charles S------------------------833.33 Johnson, Ben------------------------------833. 33 Schwulst, E. B----------------------------o 833.33 Barriger, J. W . 3d-------------------------- Chief examiner, railroad division.-833.33 McKee, John K---------------------------- Chief, examining division--------833.33 Hanrahan, Frank R.------------------------ Assistant chief, examining division.-833.33 Persons, Henry Z--------------------------- E x a m i n e r 833.33 Hovey, Ford E----833.33 Coleman, John F 833.33 Gregory, John Herbert 833. 33 Harrington, John Lyle---------------------833. 33 Whitaker, Harry E--800, 00 Gravem, Axel B---------------------------800.00 Sheehan, William F-----------------------750.00 Brownell, R. A.----------------------------750, 00 Alley, James B.----------------------------- C 708.33 Croxton, Fred C---------------------------700.00 Ne wm an , Harold W., Jr.-------------------- Counsel------------------700.00 Taylor, R. J.-------------------------------- Assistant chief, agency division700.00 Butcher, Frank M.------------------------- Examiner----------------700.00 Esgate, A. T-------------------------------|-----do--700.00 Mandeville, Charles H. W-----------------|-----do------------------------700.00 Williams, T hom as A----------------------- Chief, building and loan section------700.00 Corcoran, Thoma s G----------------------- Assistant to the Secretary of the Treas666.67 ury (or Under Secretary), director ex officio. Dougherty, J.L.---------------------------- Counsel------------------------------666. 6.7 íay,CassiusM.I.I.I.I.I.I.I.I.I.I.I.I.I.I.I.T.do--666. 67 || Cross, Guernsey T-------------------------|-----do--------------666. 67 Lamphere, F. E.---------------------------- Engineering executive666.67 Hurja, E. Edward-------------------------- Special assistant----625. 00 P. B------------------------------- Assistant treasurer-625.00 Gallagher, Ribenack, W . C Herson, James F Niemeyer, F. W. Slacks, J. W. Bethea, Liston P Klossner, H Schram, Emil 625.00 625.00 625.00 625.00 625.00 625.00 625.00 625.00 625.00 600.00 600.00 600.00 Keenan, Frank J. Taylor, Tyre------------------------------West, G. Elliott, David C McCarthy, William G---------------------Benton, Philip M-------------------------Sulliyah,Harry L-------------------------eed, W . O.-------------------------------Chadduck, Harry W. Powell, Alexander H Buckley, E. F-----------------------------Husbands, Sam---------------------------Kilbourn, J. F-----------------------------McGrath, M . J.----------------------------Parrish, Joel R----------------------------Rossman, Richard-------------------------Fort, James L.-----------------------------McCall, Charlie C-------------------------Snodgrass, Russell L 600.00 583.33 583.33 583.33 566.67 566.67 541.67 541.67 541, 67 541.67 541. 67 541. 67 641.67 541.67 541.67 529. 17 516.67 516.67 516.67 - - Assistant secretary-------Acting special adviserAssistant treasurer---- ----| ----| Examiner----------------------------d - d mont $708.33 70s. 33 708.33 708.33 708.33 708.33 972. 22 972. 22 777.77 708.33 708.33 708.33 708.33 708.33 708.33 708.33 708.33 708.33 708.33 708.33 70s. 33 708.33 708.33 680.00 680.00 637. 50 637. 50 602.08 595.00 595.00 595.00 595.00 595.00 595.00 595.00 566.67 566.67 566.67 566.67 566.67 531.25 531.25 531.25 531.25 531.25 531.25 531.25 531.25 531.25 531.25 531.25 510.00 510.00 510.00 510.00 495.83 495.83 495.83 481.67 481. 67 460. 41 460. 41 460. 41 460. 41 460. 41 460. 41 460. 41 460. 41 460. 41 449.79 439.17 439.17 439.17 REPORT of THE RECONSTRUCTION FINANCE CORPORATION 29 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 ofJune 30, 1933–Continued W A S H I N G T O N OFFICE Basic Name mont Costello, W . C.----------------------------- Assistant to the chairman------------Grimes, Oliver J. Hays, R. B.-----Smith, Elbert LAssistant to Mr. Couch-------Berle,A.A., Jr.--Special assistant to the directorsAssistant to the directors------ - - - - - - - - - - - - - - - - - - - - - Net salary per salary Title - - - - - - Field representativeEngineering assistant-Examiner--------d mont $500. $425.00 500. 500. 500. 1 500. 500. 500. 500. 500. 500. 500 55 425. 00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 ; 500. 500. 500. 500. 500, 500. 500. 500. 500. 500. 500. 500. 500. 500.00 500.00 493.33 483.33 466.67 466. 67 450.00 450.00 450.00 450 00 ;; 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 419.33 410.83 396.67 396.67 382. 50 382. 50 382.50 ; ; $625.00 $531.25 416.67 600.00 354.17 510.00 n, Mass.: Osgood, Edward H---------------------|-----do--------------------------------Vose, Fullerton C--Assistant managerScott, William N. Examiner----------------------------- 833, 33 541.67 416.67 708, 33 460. 41 354.17 Charlotte,N.C.: Campbell, John A., Jr.----------------- Manager-----------------------------Henry, John L------------------------- Examiner----------------------------- 450.00 416.67 382. 50 354.17 *Part time *Per diem º diem basis; compensation forApril, basic rate, $422.50, less15 percent, -13; compensation for May, a s ic rate, $812.50, less 15 percent, $690.63; compensation for June, basic 37 rate,$747.50,less15percent,$635.37. ... * "Except ashereinindicated, attorneys handling legal matters ofthe various agenciesofthe Corporation t Employed intermittently on donotreceivesaiariesbut arepaidin thecustomary way accordingtothecharacter and volume ofthe work performed and thereforeare not included. 30 REPORT OF THE RECONSTRUCTION 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 ofJune 30, 1983–Continued L O A N AGENCIES Name Title Basic Net salary persalary per Inont Inont Chicago, Ill. 00re, A--------------------------- Manager-----------------------------Hadlock, G. B.-Assistant manager Attorney-------- $833.33 $708.33 750.00 708.33 625.00 625.00 500.00 500.00 500.00 500.00 500.00 416.67 416.67 416.67 637. 50 602.08 433. 33 416.67 700.00 368.33 354.17 595.00 541. 67 541.67 500.00 500.00 460.41 460. 41 425.00 425.00 833.33 666.67 625.00 500.00 625.00 500.00 708.33 566.67 531.25 425.00 531.25 425.00 Acting manager----------------------Assistant manager-------------------- 683.33 416.67 580-83 354.17 Manager-----------------------------Assistant manager-Counsel--------- 833.33 833, 33 666.67 625.00 416.67 500. 777.77 777.77 566.67 531. 354.17 425.00 833.33 500.00 441.67 450.00 700.00 450.00 500.00 708.33 425.00 375.42 382.50 595.00 382. 50 425.00 d Field representative Knight, H. B--------------------------- Examiner-------Smith, James C.-Tuohy, Arthur------------------------Cleveland, Ohio: Callander, F - - - - - - - Dallas, Tex.: Andrews, Warren P Detroit, Mich.: Hicks, John C-------------------------Fisher, Charles T., Jr. Houston, Tex.: Ford, R. F Jacksonville, Fla.: Far Kansas City, Mo.: Bone, Roy L--------------------------Rice, Car Los Calif.: LeRoy, A. R.---------- º - - - - - - - - - - - - - - - - - - - - - - - - - - Louisville, Ky.: Rash, Frank D-----------is, Minn.: Chapman, Joseph---- § º Nashville, Tenn.: Joyner, John F---------N e w Orleans, La.: Buskie, & F.------------------------Robertson, George W------------------N e w York, N.Y.: Hathaway, Stewart S------Watson, E. H-------------------------Smith, Frederick P--------------------Ahearn, Thos. J., Jr.------------------ --! Clarke, A. J., Jr.-----------------------Omaha, Nebr.: Mudgett, C. F------------Philadelphia, Pa.: Graham, Samuel, Jr.-------------------Parker, Melville M--------------------Gretz, Arthur A-----------------------Portland, Oreg.: Shultz, Walter DRichmond, Va.: Doughton, J. K-----------Salt Lake City, Utah: Smith, Elias A San Antonio, Tex.: Meerscheidt, Otto San Francisco, Calif.: ins, A. A.-------------------------Hossack, Harry F---------------------St. Louis, Mo.: Longmire, John-----------------------Coerver, Joe F-------------------------- - - - - - - - - - - - - Exam inºr --- Office managerManager------------------------------ 600.00 (*) 833.33 500, 00 531.25 531.25 425.00 425.00 425.00 425.00 425.00 354.17 354.17 354.17 510.00 (*) 708.33 425.00 * Per diem. * Employed intermittently on per diem basis; compensation forApril, basicrate, $400,less 15 percent, $339.99;compensationforMay, basicrate,$487.50,less15 percent,$414.37;compensation forJune, basicrate, $500, less 15 percent, $425.00. REPORT OF THE RECONSTRUCTION FINANCE CORPORATION 31 *:::::::::: TABLE 9.—Statement of cash receipts and during the second quarter, Apr. 1, 1938, to June 30, 1933, inclusive—Corporation's accounts with Treasurer ofUnited States Cash balance at the close of business Mar. 31, 1933, as per books of the treasurer of the Corporation----------------Deduct: Correction of errors reported to the treasurer of the Corporation subsequent to Mar. 31, 1933----------------------$55, 312.46 $3, 947, 517. 48 Add: Checks issued in M a r c h 1933 canceled inApril 1933 and M a y 1933.------------- 4, 547.66 50, 764.80 - Adjusted cash balance at the close of business Mar. 31, 1933------------------------------------------- 3, 896, 752.68 Receipts: Sale of series B 3% percent notes------- $115,000, 000.00 Sale ofseries C 3% percent notes------- 250,000, 000.00 Loan"repayments: Banks and trust companies (includ ing receivers)----------------Credit unions------------------- Building and loan associations----Insurance companies------------Joint-stock land banks----------- Livestock credit corporations----Mortgage loan companies-------- 128,626, 534, 58 2,790. 00 9, 580, 589. 50 2, 213,666. 66 109,961. 86 1,037,777. 16 3,780, 300. 81 Regional agricultural credit corpo rations----------------------- 8,252,075. 37 Other agricultural credit corpora tions------------------------Railroads---------------------- Self-liquidating projects under sec. 201 (a) (bonds and notes paid— par $35,000)-----------------For repair or reconstruction of property damaged by earth quake, etc.-------------------Institutions under sec. 201 (d)----Relief disbursements (1932 act) repaid-Interest and discount collected.----- Reimbursable expense collected.-------Repayments on advances for care and preservation of collateral----------Collections on collateral to rediscounts-- Collectionson collateralpurchased.----Return of deposits with bids for pu r 553,720.46 265, 876. 38 35,000.00 2, 100.00 483, 839.83 131,245.00 9, 142, 891. 51 62, 164.77 57, 617.35 156, 754, 35 149, 301. 14 chase of bonds (self-liquidating pro jects)---------------------------- Refunds of expenses paid------------- 90, 520.00 14, 705. 28 Funds received from Secretary of Agri c u l t ur e - - - - - - -- - - - - - - - -- - - - - - - - -- - 5,000,000. 00 Return ofpetty cash----------------- 250. 0 0 Unallocated—pending advices--------Miscellaneous (including amounts cred 27, 613,085. 74 ited in error and remittances not col lected)--------------------------— 47, 103.46 562, 409,871. 21 566,306, 623. 89 32 REPORT OF THE RECONSTRUCTION FINANCE CORPORATION TABLE 9.—Statement of cash receipts and expenditures during the second quarter, Apr. 1, 1933, to June 30, 1933, inclusive—Corporation's accounts with Treasurer of United States—Continued Expenditures: Loan disbursements: Banks and trust companies (in cluding receivers)-------------- $123, 889, 815. 77 Credit unions------------------115,495. 70 Building and loan associations---6,006, 048. 55 Insurance companies------------4, 881, 247, 64 Federal land banks-------------3,000, 000.00 Joint-stock land banks----------2, 621, 624.52 Livestock credit corporations----327,000. 00 Mortgage loan companies-------47, 444, 019. 40 Regional agricultural credit corpo rations----------------------58, 353, 521. 32 Other agricultural credit corpora tions------------------------464, 345. 92 Railroads (includingreceivers)---For self-liquidating projects under sec.201 (a) (bonds and notes pur chased—par $9,040,750) -------Institutions under sec.201 (d)----Secured by preferred stock, banks and trust companies----------For repair or reconstruction of property damaged by earth quake, etc.-------------------Relief disbursements (1932 act)-------Reliefgrants (1933 act)--------------- 48, 530, 513. 29 8, 803, 182. 26 2,027, 722.47 11, 935, 000.00 678, 895.00 96, 830, 766.83 37, 910, 142.00 Purchase of preferred stock, banks and trust companies------------------Purchase of capital notes and deben tures, banks and trust companies----Withdrawal by regional agricultural credit corporation of funds held for t h e m - - - - - - - - - - - - -- - - - - - - - - - - - - - - Refund of interest overpayments.-----Refund of unearned discount--------Release of cash collateral to rediscountsInterest on cash collateral to redis co un ts- --- --- -- --- --- --- -- --- --- - Discount rebates-------------------- Release of funds held in suspense------Interest on suspended credits—mort gage loans------------------------ 18, 583,000.00 200,000.00 8,000,000.00 12, 861. 42 506. 72 28, 541. 35 450. 02 61. 62 354, 145. 32 26. 09 Interest on series A and series B 3% per cent n o t e s - - - - - - - - - - - - - - - - - - - - - - Advances for expenses—Federal E m e r gency ReliefAdministration--------Advances for expenses—regional agri cultural credit corporations (to Farm Credit Administrator)-------------Advances for care and preservation of co lla ter al- --- ---- --- --- --- --- ---- - Payments to Secretary of Agriculture--Payments to Secretary of the Treasury (for purchase of stock of Federal home loan banks) -----------------Payment to Secretary of the Treasury (for purchase of stock of Ho me O w n ers Loan Corporation).------------Payments to land bank commissioner-Payment of subscription to capital of regional agricultural credit corpora tion----------------------------- 16, 760, 205. 52 10,067. 49 978, 540. 37 164, 358. 20 45,000, 000.00 12, 350,000.00 1,000,000.00 2, 200,000.00 500,000.0) * REPORT OF TH E RECONSTRUCTION FINANCE CORPORATION 33 TABLE 9.—Statement of cash receipts and expenditures during the second quarter, Apr. 1,1988,to June 30, 1983, inclusive—Corporation's accounts with Treasurer of United States—Continued Expenditures—Continued. Accrued interest on bonds purchased (self-liquidating projects)----------Additions to petty cash funds--------Furniture a n d fixtures---------------- Expense—general------------------Expense—loan agency--------------Expense-custodian----------------- $104,065. 28 570. 00 43, 913. 72 731, 704. 63 654, 996. 41 412, 207. 89 Expense—regional agricultural credit corporations---------------------- Reimbursableexpense---------------Miscellaneous (including refunds and adjustments for amounts credited in errorand remittances not collected)-— 861, 054. 76 200, 115.87 52, 876. 14 $563, 023, 609. 49 Cash balance at the close of business June 30, 1933---- 3, 283,014. 40 Note.—In addition to funds on deposit with the Treasurer ofthe United States, custodian banks held insuspensefunds which amounted to$1,794,142.12atthe closeofbusiness Mar. 31,1933,and $658,483.87at thecloseofbusinessJune30,1933. TABLE 10.-Statement of cash receipts and expenditures Jan. 1, 1983, to June 30, 1933, inclusive—Corporation's accounts with Treasurer of United States Cash balance at the close of business Dec. 31, 1932, as per hº º of the treasurer of the corporation------------ 1pts: Sale of series A 3% percent notes---- $190,000, 000. 00 Sale of series B 3% percent notes---- 335,000,000.00 Sale of series C 3% percent notes---- 250,000,000.00 Loan repayments: Banks and trust companies (in cluding receivers)----------- 216,023, 751. 35 Credit unions----------------7, 110.00 Building and loan associations-16, 444, 392. 31 Insurance companies---------3,300, 700.98 Federal intermediate credit banks---------------------Joint-stock land banks--------- Livestock credit corporations--Mortgage loan companies-----Regional agricultural credit cor porations------------------- Other agricultural credit corpo rations--------------------Railroads-------------------- 9, 242, 975. 63 127, 146.17 3,808, 804.09 7,934, 300.08 11, 391, 396.79 1, 104,050. 18 8,704, 487. 60 For self-liquidating projects u n § (bonds and notes paid—par $35,000)----For repair or reconstruction of der sec. 201 35,000.00 property damaged by earth quake, etc.------------------ Institutions under sec. 201 (d)-Relief disbursements (1932 act) re paid--------------------------Interest and discount collected.------ Reimbursable expense collected.----Repayments on advances for care and preservation of collateral--------Collections on collateral to redis counts------------------------- Collections on collateral purchased.-Funds of regional agricultural credit corporations-------------------- 2, 100.00 815, 446. 61 466, 145.00 20, 431, 183.51 96, 681. 53 58,067.35 274,070.35 149, 301. 14 1,500,000.00. $7,927, 927. 23 34 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION TABLE 10.-Statement ofcash receipts and expenditures Jan. 1, 1933,to June 30, 1933, inclusive—Corporation's accounts with Treasurer of United States—Con. Receipts—Continued. Return of petty cash-------------Return of deposits with bids for pu r chase of bonds (self-liquidating projects)----------------------Refunds of expenses paid----------Funds received from Secretary of Agriculture--------------------Unallocated—Pending advices-----Miscellaneous (including amounts $250. 00 130, 820. 0 0 27, 733. 80 5,000,000. 0 0 29, 169,256. 53 credited in error and remittances not collected)------------------- 158, 327. 07 $1, 111, 403, 498. 07 1, 119, 331, 425.30 Expenditures: Loan disbursements: Banks and trust companies (in cluding receivers)----------Credit unions----------------- Building and loan associations-Insurance companies---------Federal land banks-----------Federal intermediate credit Livestock credit corporations--Mortgage loan companies-----Regional agricultural credit cor porations------------------- Other agricultural credit corpo Railroads (including receivers)-For self-liquidating projects u n der sec. 201 (a) (bonds and 308,049,076. 9 0 125,050. 15, 209, 225. 2 8 15, 779, 241. 0 3 3,300,000. 00 9, 242, 342. 72 5, 416, 752. 6 9 445, 127. 87, 871, 172. 65 109, 700, 975. 87 867, 668. 59 95,417, 130. 0 3 notes purchased—par $14, 027,750)------------------Institutions under sec. 201 (d)-Secured by preferred stock banks and trust companies--For repair or reconstruction of 13, 750, 182. 26 2, 239, 524. 67 12, 185,000. 0 0 property damaged by earth quake, etc.------------------ 678, 895. 0 0 Relief disbursements (1932 act)----- 218, 572, 806. 6 8 Relief grants (1933 act)-----------Payments of subscriptions to capital of regional agricultural credit cor porations----------------------Purchase of preferred stock, banks and trustcompanies:------------ Purchase of capital notes and deben tures, banks and trust companies-Withdrawal by regional agricultural credit corporations of funds held for them----------------------- Refund of interest overpayments.---Refund of unearned discounts-----Release of cash collateral to redis 37, 910, 142. 0 0 2,500,000. 00 31,083,000. 00 200,000. 0 0 15,000,000. 0 0 21,957. 1, 556. 0 6 65, 470. 27 Interest on cash collateral to redis coun ts-- ---- --- ---- ---- ---- ---- Discount rebates------------------ Release of funds held in suspense---Interest on suspended credits—mort gage loans---------------------- 646. 58 276. 436, 523. 2 5 26. 0 9 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION 35 TABLE 10.-Statement ofcash receipts and expenditures Jan. 1, 1933, to June 30, 1933, inclusive—Corporation's accounts with Treasurer of United States—Con. Receipts—Continued. Interest on series A and series B 3 % percent notes------------------- $16,760, 205. 52 Advances for expenses—Federal Emergency Relief Administration10,067. 49 Advances for expenses—regional a g ricultural credit corporations (to Farm Credit Administrator)-----979, 065. 37 Advances for care and preservation of collateral-------------------232, 312.49 Payments to Secretary of Agricul tu re--- ---- ----- ---- ----- ---- -- 60,000,000.00 Payments to Secretary of the Treas ury (for purchase of stock of home loan banks)-------------------Payments to Secretary of the Treas ury (for purchase of stock of H om e Owners' Loan Corporation).------Payments to land bank commissionerAccrued interest on bonds purchased (self-liquidating projects)--------Deposits with bids for purchase of bonds (self-liquidating projects)--Additions to petty cash funds------Furniture and fixtures------------- Expenses—general---------------Expense—loan agency------------Expense—custodian--------------Expense—regional agricultural credit corporations-------------------Reimbursable expense------------Miscellaneous (including refunds and 42, 150,000.00 1,000,000.00 2, 200,000.00 151, 306.04 - 95, 520.00 1, 520.00 88, 257. 35 1,473, 282. 75 1,316, 125. 12 755,090. 97 2, 235, 523.93 344,082.00 adjustments for amounts credited in error and remittances not col lected)------------------------- 186, 281.90 — Cash balance at the close of business June 30, 1933.-- $1,116,048, 410. 90 3, 283,014. 40 . Note.—In addition to funds on deposit with the Treasurer ofthe United States,custodian banks held insuspense funds which amounted to $1,464,285.96 at the close of business Dec. 31, 1932, and $658,483.87 at theclose of business June 30, 1933. 36 REPORT OF THE RECONSTRUCTION FINANCE CORPORATION TABLE 11.-Statement of condition of the corporation as of the close of business June 30, 1933 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 cor $3,283,014. 4 0 658, 483. 87 5,070. 00 porations—Farm Credit Administration---------------- 5,260,000. 00 Advanced for Federal Emergency Relief Administration ex Pe ns es- -- --- -- -- --- -- --- -- --- -- -- --- -- --- -- --- -- -- - Allocated to Secretary of the Treasury -----------------Allocated to Secretary of the Treasury 2-----------------Allocated to land bank commissioner-------------------- 10,067. 4 9 124,741,000. 0 0 200,000,000. 0 0 300,000, 000. 0 0 Allocated to Secretary of Agriculture3--- $200,000,000.00 Less reallocated as capital of regional agricultural credit corporations---- 44, 500,000.00 Capital regional agricultural credit corporations----------- 155, 500,000. 44, 500,000. 00 00 Loans under sec. 5: Proceeds disbursed (lessrepayments): Banks and trust companies 4---- $685, 527, 567.62 Credit unions----------------549,-200. 70 Building and loan associations-82,299, 375. 29 Insurance companies---------73, 921, 882. 30 Federal land banks-----------21, 800,000.00 Joint-stock land banks--------7, 754, 907. 82 Livestock credit corporations--4, 384,467. 87 Mortgage loan companies------ 155,906, 961. 88 Regional agricultural credit cor porations------------------- 107, 350, 218. 95 Other agricultural credit corpo r a ti on s -- - -- -- - -- -- - -- - -- -- 2, 137,918, 28 Railroads (including receivers)-- 359, 184, 351. 20 1, 500, 816, 851. 91 Proceeds not yet disbursed: Banks and trust companies 4---Building and loan associations-Insurance companies---------Federal land banks-----------Joint-stock land banks--------- Livestock credit corporations--Mortgage loan companies-----Regional agricultural credit cor porations------------------Other agricultural credit corpo rations--------------------- Railroads (including receivers)-- 70, 183,926. 11 1,402, 110.63 8,676, 859. 07 3, 200,000.00 9,064, 981. 18 147, 500.00 10,842, 221.49 4, 415, 485. 42 427, 835. 34 25,063, 193. 49 133,424, 112. 73 Loans and contracts for self-liquidating projects sec. 201 (a): Proceeds disbursed (less repayments) (by purchase of bonds, certificates, and notes—par $29,769,750)----Proceeds not yet disbursed (contracts, bonds, certifi cates, and notes—par $185,944,700)--------------Loans for repair or reconstruction of property damaged by earthquake, etc.: Proceeds disbursed (less repayments)---------------Proceeds not yet disbursed.------------------------Loans to institutions under sec. 201 (d): Proceeds disbursed (less repayments)---------------Proceeds not yet disbursed.------------------------Relief authorizations (1932 act): Proceeds disbursed (less repayments)---------------Proceeds not yet disbursed.------------------------See notes on p. 38. 29, 462, 386. 4 1 184, 947, 896. 26 676, 795. 9,771, 105. 2,748, 595. 20 1, 720, 621. 298,073,703. 77 1,460, 151. 23 REPORT O F T H E RECONSTRUCTION FINANCE CORPORATION 37 TABLE 11.-Summary of condition of the corporation as of the close of business June 30, 1933—Continued - AssETs—continued Relief grants (1933 act) *: Proceeds disbursed.-------------------------------- Proceeds not yet disbursed.------------------------- $37,910, 142. 0 0 13, 621, 589. 00 Loans secured by preferred stock, banks and trust com panies–Proceeds disbursed.--------------------------- 12, 185,000. 00 Preferred stock, banks and trust companies: Purchased.---------------------------------------- Subscriptions authorized.--------------------------- 31,083,000. 00 3,950, 000. 0 0 Capital notes and debentures, banks and trust companies— Purchased------------------------------------------Advances for care and preservation of collateral: 200,000. 00 Proceeds disbursed (less repayments)---------------- 174,245. 14 96, 666. 59 1, 956, 698. 86 29, 441, 722. 4 6 369, 668. 87 Proceeds not yet disbursed.------------------------- Collateral purchased (cost lessproceeds of liquidation).-Accrued interest receivable----------------------------- Reimbursable expense--------------------------------*urniture and fixtures--------------------- $409, 499.45 Less allowance for depreciation--------- 44, 793. 76 364,705. 69 Total.-----------------------------------------LiABILITIES A ND 3, 128, 413, 293. 48 CAPITAL Payable to Secretary of the Treasury ------------------Payableto Secretary of the Treasury 2------------------Payable to land bank commissioner--------------------- 81,771, 000. 0 0 199,000, 000. 00 297, 800, 000. 00 Payable to Secretary of Agriculture (Farm Credit Admin *1 istration)*------------------------------------------ 40, 500,000. 00 Callable by Farm Credit Administration for expenses of regional agricultural credit corporations---------------- 4,278, 334. 63 Liability for funds held for regional agricultural credit cor porations------------------------------------------ Liability for funds held as cash collateral----------------Proceeds not yet disbursed: Loans u nd er sec. 5-------------------------------- s and contracts for self-liquidating projects sec. 201 (a)------------------------------------Loans for repair or reconstruction of property damaged by earthquake, etc.-----------------------------Loans to institutions under sec. 201 (d)-------------Relief authorizations (1932 act)--------------------- Relief grants (1933 act)*--------------------------Advances for care and preservation of collateral------- 3,000,000. 00 975, 802. 89 133,424, 112. 73. 184, 947, 896. 26 9,771, 105. 1,720, 621. 1,460, 151. 13, 621, 589. 96, 666. Subscription authorizationspreferred stock,banks and trust companies------------------------------------------ Cash receipts not allocated pending advices-------------Miscellaneous liabilities (including suspense).-------------- 3,950, 000. 25, 244, 941. Liabilityfor funds held pending adjustment-------------Unearned discount------------------------------------ Interest refunds and rebates payable-------------------Interest accrued.-------------------------------------- Series C 3% percent notes------------------------------ 1, 585,000, 000. 500,000, 000. Capital stock----------------------------------------17, 804, 757. Surplus Dec. 31, 1932--------------------------------Interest earned less interest and expenses (Jan. 1, 1933, through June 30, 1933).------------------------------ 10, 489, 141. 3, 128,413, 293. Seefootnotes on p. 38. 38 REPORT OF T H E RECONSTRUCTION FINANCE CORPORATION 1 Sec. 2 of the Reconstruction Finance Corporation Act, as amended by the Federal H o m e Loan Bank Act, provides that “in order to enable the Secretary of the Treasury to make payments upon stock of Federal hom e loan banks subscribed for by him in accordance with the Federal H o m e Loan Bank Act, the s um of $125,000,000 or so mu ch thereof as m a y be necessary for such purpose, is hereby allocated and made availableto the Secretary ofthe Treasury out ofthe capital ofthe Corporation and/or the proceeds of notes, debentures, bonds, and other obligations issued by the Corporation.” T he amount of such stock subscribed for by the Secretary of the Treasury is$124,741,000. * Sec. 4 (b) ofthe H o m e Owners' Loan Act of 1933, provides that “the Board (Federal H o m e Loan Bank Board) shall determine the m in imu m amount of capital stock of the Corporation (Hom e Owners’ Loan Corporation) and is authorized to increase such capital stock from time to time in such amounts as m a y be necessary, but not to exceed in the aggregate $200,000,000. Such stock shall be subscribed for by the Secretary ofthe Treasury on behalf of the United States, and payments for such subscriptions shall be Fº subject to call in whole or in by the Board and shall be ma de at such time or times as the Secre of the Treasury deems advisable. * * * In order to enable the Secretary ofthe Treasury to ma ke suc payments when called, the Reconstruction Finance Corporation is authorized and directed to allocate and make available to the Secretary of the Treasury the su m of$200,000,000, or so m uc h thereof as m a y be necessary, and forsuch purpose the amount ofnotes, bonds, debentures, or other such obligations which the Reconstruction Finance Corporation is authorized and empowered under Sec. 9 of the Reconstruction Finance Corporation Act, as amended, to have outstanding at any one time, is hereby increased by such m a y be necessary.” The amount ofsuch stocksubscri for by the Secretary ofthe Treasury 200,000,000. ºas *Allocated inaccordancewiththeprovisionsofsec.2 ofthe Reconstruction Finance Corporation Act, approved Jan.22,1932,asamended. On Feb. 4,1933,the Presidentapproved an actauthorizing the Secre tary of Agriculture to request the Corporation to advance to him the balance of the s um authorized to be allocated under sec. 2 of the act of Jan. 22, 1932 (excepting the amount used to establish agricultural credit corporations under sec. 201 (e) of the act of July 21, 1932), and directing the Corporation to make such advances regardlessof the amount of its obligations outstanding at the time of making such advances, the sums thus advanced, together with the sums collected or to be collected from loans made by the Secretary of Agricultureduring the year 1932under sec. 2oftheactofJan.22,1932,tobe availableto theSecretaryof Agriculture to make loans for crop production during the year 1933 not to exceed $90,000,000 in amount. Under an Executive order issued by the President under date of Mar. 27, 1933, there were transferred to thejurisdictionand control ofthe Farm Credit Administration thefunctions of the Secretary of Agricul ture under all provisions of law relating to the making of advances or loans to farmers, fruit growers, p r o ducers, and owners of livestock and crops, and to individuals for the purpose of assisting in forming or increasing the capital stock of agricultural credit corporations, livestock loan companies, or like organiza tions,except Public Resolution No. 74,70th Congº, approved Dec.21, 1928,providing forthe Puerto Rican Hurricane Relief Commission, and the Crop Production Loan Office and the Seed Loan Office of the D e partment ofAgricultureand thefunctionsthereof. * Loans under sec. 5 of the Reconstruction Finance Corporation Act to aid in the reorganization or liqui dation ofclosed banks have been authorized in the aggregate amount of$160,998,570.08, ofwhich $7,945,387.76 has been canceled. After taking into consideration repayments of $48,966,008.83, items (4) of the balance sheet include the balance of $71,060,779.94 representing proceeds disbursed (less repayments) a n d $33,026,393.55representing proceeds not yet disbursed. * Under t h e º of the Federal Emergency Relief Act of 1933 the Corporation is authorized a n d directed to make available $500,000,000 for expenditure by the Federal Emergency Relief Administrator, payment tobe made by the Corporation upon certificate ofthe Federal Emergency ReliefAdministrator. In addition to loans and other authorizations reflected on the statement of condition, the corporation has approved in principle loans in the amount of$260,399,034.97 and purchases ofpreferred stock and de b e n tures ofbanks and trustcompanies inthe amount of$14,095,000,upon the performance ofspecified conditions. This statement of condition does not take into consideration expenditures incurred but not paid by the Corporation at the close ofbusiness June 30, 1933, nor income ofregional agricultural credit corporations, whose capital stock was subscribed by the corporation. O