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2 9 'º:
Q U A R T E R L Y R E P O R T OF T H E R EC O NS T RU C TI O N
FINANCE CORPORATION
Q U A R T E R E N D E D SEPTEMBER 30, 1933
REconstruction FINANCE Corporation,
Washington, November 18, 1933.
SIR: Pursuant to theprovisionsofsection 15 of the Reconstruction
Finance Corporation Act, the Corporation has the honor to submit
its report covering its operations for the third quarter of 1933, and
for the period from the organization of the Corporation on February
2, 1932, to September 30, 1933, inclusive.
During the third quarter of 1933, the Corporation authorized,
under section 5 of the Reconstruction Finance Corporation Act,as
amended, 662 loans. These loans, together with increases during
the quarter of loanspreviously authorized,aggregated $223,450,201.14
as follows: $157,027,654.96 to banks and trust companies (including
$122,500,225.66 to aid in the reorganization or liquidation of banks
that are closed or in process of liquidation); $1,440,720.83 to build
ing and loan associations; $1,525,100 to insurance companies;
$20,663,841.87 to mortgage-loan companies; $10,000 to a credit
union; $5,000,000 to Federal land banks; $3,034,500 to joint-stock
land banks; $470,520.39 to agricultural credit corporations; $30,015,
863.09 (rediscounts) to regional agricultural credit corporations;
$400,000 to a livestock credit corporation; and $3,862,000 to a
railroad.
During the third quarter of 1933, the Corporation, under the
Emergency Reliefand Construction Act of 1932, as amended, author
ized 19 loans aggregating $55,355,292.80 as follows: Under the
provisions of section 201 (c), title II, loans totaling $52,880,542.80
were authorized for the purpose of financing sales in foreign markets
of agricultural surpluses; and under the provisions ofsection 201 (d),
title II, loans aggregating $2,474,750 were authorized to aid in
financing the carrying and orderly marketing of agricultural com
modities and livestock produced in the United States.
During the third quarter of 1933, the Corporation, under section
304, title III, of the act of Congress approved March 9, 1933, as
amended, made 94 authorizations, as follows: Loans secured by the
preferred stock of banks and trust companies in the amount of
$2,891,500; subscriptions for preferred stock of banks and trust
companies in the amount of$19,337,500; and purchase of debentures
of a bank in the amount of $500,000.
During the third quarter of1933, under the provisions of section 5,
title I, of the Agricultural Adjustment Act of 1933, which authorizes
1
2
REPORT OF T H E
RECONSTRUCTION
F INA NC E CORPORATION
the Corporation to make loans to the Secretary of Agriculture to
acquire cotton, the Corporation authorized a loan of $3,500,000.
Summarizing the above, the Corporation, during the third quarter
of 1933, made 776 authorizations aggregating $305,034,493.94.
Cancelations,or withdrawals during the third quarter of 1933 of
loans authorized from February 2, 1932, to September 30, 1933,
inclusive, aggregated $42,795,954.94.
During the third quarter of 1933,theCorporation under the above
acts disbursed $237,739,451.20 and received repayments (exclusive of
amounts unallocated, pending advices, as of Sept. 30, 1933) in
the aggregate amount of $238,186,399.98. The decrease in the
amount outstanding on September 30, 1933, as compared with June
30, 1933, was $446,948.78.
During the entire period from the organization of the Corporation
on February 2, 1932, to September 30, 1933, inclusive, the Corpora
tion authorized, under section 5 of the Reconstruction Finance
Corporation Act, as amended, 14,053 separate loans to 7,758 institu
tions, aggregating $2,628,643,958.08, as follows: $1,551,521,805.64 to
6,317 banks and trust companies (including $283,498,795.74 to aid in
the reorganizationor liquidation ofbanks that are closed orin process
of liquidation); $116,837,436.10 to 997 building and loan associations;
$99,337,867.51 to 127 insurance companies; $210,391,230.37 to 156
mortgage loan companies; $617,001 to 5 credit unions; $35,500,000 :
to 9 Federal land banks; $20,628,172.68 to24 joint-stock land banks;
$9,250,000 to 8 Federal intermediate credit banks; $5,259,452.75 to
17 agricultural credit corporations; $153,410,163.18 (rediscounts) to
12 regional agricultural credit corporations and their branches;
$14,189,402.85 to 19 livestock credit corporations; and $411,701,426
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 September 30, 1933, inclusive,
the Corporation made 683 authorizations to 266 institutions in the
aggregate amount of$642,265,395.34, asfollows: Under the provisions
section 1, title I,$300,000,000 was made available to 42 States and
º:
2Territoriesforpurposesofreliefand work relief;undertheprovisions
of section 201 (a), title II, as amended, loans or contracts aggregating
$230,899,770.24were authorized to 182institutionsforself-liquidating
projects (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 aggregating $52,880,542.80 were authorized to 3 insti
tutions for the purpose of financing sales in foreign markets of agri
cultural surpluses; and under the provisions of section 201 (d), title
II,loansaggregating$58,485,082.30were authorized to37 institutions
to aid in financing thecarrying and orderlymarketing of agricultural
commodities and livestock produced in the United States.
Under the act of Congress approved March 9, 1933, as amended,
the Corporationfrom March 9,1933,to September30,1933,inclusive,
made 144 authorizations, as follows: 30 loans in the amount of
$15,076,500,secured by preferred stockof banks and trustcompanies;
subscriptions for preferred stock of 112 banks and trust companies in
the amount of $54,370,500; and purchases of debentures of 2 banks
in the amount of $700,000.
REPORT OF T H E
RECONSTRUCTION
FI NA N CE CORPORATION
3
Under the Agricultural Adjustment Act of 1933, the Corporation
from May 12, 1933, to September 30, 1933, inclusive, authorized a
loanof$3,500,000to theSecretary ofAgriculture to acquire cotton.
Summarizing the foregoing, the Corporation, during the entire
period from February 2, 1932, to September 30, 1933,inclusive, made .
14,881 authorizations aggregating $3,344,556,353.42. Of the total
amount authorized,$289,307,651.57 was laterwithdrawn or canceled.
At the close of September 30, 1933, the Corporation under the
above acts had disbursed $2,696,497,786.92, and
* g .
(exclu
siveof amounts unallocated, pending advices, as of Sept. 30, 1933)
amounted to $844,044,213.26, leaving$1,852,453,573.66 outstanding
on the books of the Corporation.
In addition, the Corporation had outstanding on September 30,
1933, agreements to make loans, subscriptions, and purchases,
totaling $501,290,973, upon the performance of specified conditions.
Section 84 of the Farm Credit Act of 1933 provides that:
The Reconstruction Finance Corporation is authorized, with the approval of
the Governor of the Farm Credit Administration, to reduce the capital of any
regional agricultural credit corporation by such action as may be suitable for the
purpose. The funds made available by any such reduction shall constitute a
revolving fund, all or any part of which shall be available for use from time to
time by the Reconstruction Finance Corporation for the purpose of increasing
with theapproval ofthe Governor ofthe Farm Credit Administration, the capitãi
ofany regional agricultural credit corporation.
Under the above section, with the approval of the Governor of the
Farm Credit Administration, the Corporation in July authorized the
reduction of the capital of six regional agricultural credit corpora
tions, as follows: The Regional Agricultural Credit Corporation of
Albany, N.Y., from $3,000,000 to $1,150,000; of Baltimore, Md.,
from $3,000,000 to $400,000; of Raleigh, N.C., from $3,000,000 to
$1,200,000; of Columbus, Ohio, from $3,000,000 to $650,000; of
Jackson, Miss., from $3,000,000 to $1,100,000; and ofSt. Louis, Mo.,
from $3,000,000 to $1,200,000. During July the Corporation, with
the approval of the Governor of the Farm Credit Administration,
authorized increases in the capital of five regional agricultural credit
corporations, as follows: The Regional Agricultural Credit Corpora
tion of Minneapolis, Minn., from $3,500,000 to $7,500,000; of Sioux
City, Iowa, from $5,000,000 to $9,000,000; of Wichita, Kans., from
$5,000,000 to $6,000,000; of Fort Worth, Tex., from $3,000,000 to
$3,500,000; and of Spokane, Wash., from $5,000,000 to $7,800,000.
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 the Treasury, the Corporation, during the third quarter
of 1933, paid $14,400,000 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$57,370,000 paid to the
SecretaryoftheTreasuryforthispurposetothecloseofSeptember30,
1933.
Under section 4 (b) of the Home Owners Loan Act of 1933, the
Corporation during the third quarter paid $1,000,000 to the Secre
tary of theTreasury for thepurposeofmakingpaymentsupon stock
of the Home Owners Loan Corporation subscribed for by him. This
made a total of $2,000,000 paid to the Secretary of the Treasury for
thispurpose through September 30, 1933.
4
REPORT
OF
T H E
RECONSTRUCTION
FINANCE
CORPORATION
During thethirdquarter,$135,000,000ofthe“SeriesC" 3%percent
notes authorized by the board of directors on April 29, 1933, were
sold totheSecretary oftheTreasury, making a total of $1,720,000,000
of notes outstanding at the close ofSeptember 30, 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 third quarter made pay
ments to States aggregating $126,810,041.97, making a total of
$164,720,183.97 sopaid through September 30,1933.
-
Under section 30 (a) and section 32 of the Emergency Farm
Mortgage Act of 1933, the Corporation during the third quarter paid
$8,400,000 to the Land Bank Commissioner, of which $400,000 was
for the purpose of making loans to joint-stock land banks under
section 30 (a), and $8,000,000 was for the purpose of making direct
loans to farmers under section32. As ofSeptember 30, 1933, a total
of $10,600,000 had been paid by the Corporation to the Land Bank
Commissioner under thisact, of which $600,000 was for making loans
to joint-stock land banks and $10,000,000 was for making direct
loans to farmers.
The following tables are attached hereto:
Table 1. Aggregate loans; subscriptions for preferred stock of
banks; and purchases of capital notes and debentures of banks,
t;
during the
quarter of 1933 and from February 2, 1932, to
September 30, 1933, inclusive.
Table 2. Number of new borrowers;subscriptions forand loans on
preferred stock of banks; and purchases of capital notes and deben
tures of banks; by States, during the third quarter of 1933.
Table 3. Number of authorizations, by States, during the third
quarter of 1933.
Table 4. Number of borrowers,subscriptionsfor,and loans on pre
ferred stock of banks; and purchases of capital notesand debentures
of banks, by States, February 2, 1932, to September 30, 1933,
inclusive.
Table 5. Number of authorizations, by States, February 2, 1932,
to September 30, 1933, inclusive.
Table 6. Amount of authorizations, disbursements, repayments,
and amounts outstanding from February 2, 1932, to September 30,
1933, inclusive, by months and classes.
Table 7. N umber of borrowers and amounts of loans authorized
under section 5 of the Reconstruction Finance Corporation Act, as
amended, February 2, 1932, to September 30, 1933, inclusive, by size
of cities or towns.
Table 8. Names and compensation of directors, officers, and e m
ployees of the Reconstruction Finance Corporation receivingfrom the
Corporation more than $400 per month, as of September 30, 1933.
Table 9. Statement of cash receipts and expenditures during the
(Corporation's accounts with Treasurer of United
§. *
tates.
-
Table 10. Statement of cash receipts and expenditures, January 1,
1933, toSeptember 30, 1933,inclusive. (Corporation'saccounts with
Treasurer of United States.)
REPORT
OF
T H E
RECONSTRUCTION
FINANCE
CORPORATION
5
Table 11. Statement of condition of the Corporationasof the close
ofbusiness, September 30, 1933.
Respectfully,
(Signed) JESSE H. JonEs,
Chairman.
(Signed) GEORGE R. Cooks.EY,
Secretary.
The PRESIDENT of THE SENATE.
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16
REPORT OF THE RECONSTRUCTION FINANCE CORPORATION
TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts out
standingfrom Feb. 2, 1932, to Sept. 30, 1988, inclusive, by months and classes
GRAND TOTAL
Amount out
Am ou nt author-
Month
ized 1
Am oun t disbursed
Am ou nt repaid
standing: increase
for the period
1932
February----------------------
$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
27,009,080. 50
*16,440,727. 23
248,684,900.92
*34,615, 181.07
*35,232,968.30
244, 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
a249,591,915.67
* 136,534,750.79
2 110,947, 945 41
*27,217, 555.85
*90,058, 433.40
233, 839,581.92
* 102,077,848. 07
*1,936,376,672.57
1,524,747,138.82
March-------------------------
142,844,447.43
283, 171,473.85
*218,332,207.45
117,995, 293.92
199,499, 330.83
179,533,134.72
232,452,828. 29
*35,971,703. 16
* 55,813,566.83
285, 542,465.63
* 163,527,627.67
*123,719, 567. 89
Total, first quarter-------
*644,348, 128.73
497,027,759.47
2124,238,098.28
*372,789, 661.19
*162, 529, 133. 14
*142,081,250.47
*154, 186,674. 57
117,500,398.87
195,805,854.81
123,677, 183.75
*40,214,456.05
* 46,800,270.40
*94,656, 535. 17
*77,285,942.82
* 149,005, 584.41
*29,020,648.58
a458,797,058. 18
436,983,437.43
181,671,261. 62
*255,312, 175.81
201,024,785.36
59,015,265.53
44,994,443.05
115,339,396.98
83, 128,537.43
39,271, 516.79
113,000, 532.51
73,553, 143.29
*51,632,724. 18
2,338,864.47
9,575,394. 14
* 12,361,207. 39
1299,948,453.38 ||11,224,798,685. 44
1933
January-------------------February--
-
-
-
-
September-------Total, third quarter------
305,034,493.94
G r a n d total.--------------
3,344,556,353.42
237,739.451.20 | * 238, 186,399.98
2,696,497,786.92
*844,044, 213.26
4446,948.78
1,852,453, 573.66
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
$70,868,417. 52
121,477,890.49
155,543,323.23
158,983, 559. 12
December----------------------
$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
259,371,561.73
73,659,796.72
81,467,467.97
Total.-------------------
January-----------------------FebruaryMarch-------------------------
September-----October------Nov emb er- ---
-
Total, second quarter---July--August---September---
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
27,009,080. 50
* 16,440,727. 23
a48,684,900. 92
*34,615, 181.07
*35,232,968.30
244, 903, 158.06
247,563,281.73
* 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
272,790,078.43
* 12, 189,981.83
* 58, 126,827.
21,623,332,344.44
1,427,603, 122.64
-299,832,996.43
21, 127,770, 126.21
84, 182, 129.23
209,735,830.65
*155,929, 303.10
75,183,421.58
159,688, 523.62
122,840,052.22
*32,308,547.15
*35,910, 943, 56
255,687,000. 79
#42,874,874.43
* 123,777, 580.06
*67, 153,051.43
*449,847,262.98
357,711,997.42
2123,906,491.50
*233,805, 505.92
100,727,623.93
2 111,284,726.83
a120,001,798.76
62,758,894.98
135,626,841.22
99,193,850, 52
*40,104,185. 68
246,258,713.03
*94,303,996. 26
*22,654,709. 30
*89,368, 128. 19
*4,889,854.26
*332,014, 149.52
297,579,586.72
2180,666, 894.97
a 116,912,691.75
133,113,288. 14
51,774,969.95
38,561,943.05
95,895,674.09
69,438,406. 13
25,086,394.18
112,822,799.51
72,817,460.22
* 51,021,474.66
* 16,927, 125.42
*3,379,054.09
*25,935,080.48
190,420, 474.40
a236,661,734.39
•46,241,259.99
3.841,068, 117, 29
1,432, 247,063.89
Total, third quarter------
223,450,201. 14
G r a n d total.--------------
2,628,643,958.08
See footnotes on p. 25.
298,276, 816.59
2,273,315, 181,
REPORT of T HE RECONSTRUCTION FINANCE CORPORATION
17
TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts out
standing from Feb. 2, 1932, to Sept. 30, 1933, inclusive, by months and classes—
Continued
BA NK S A N D T R U S T C O M P A N I E S (INCLUDING RECEIVERS, LIQUIDATING AGENTS,
A N D CONSERVATORS)
Am oun t author-
Mo nt h
-
ized
Am oun t disbursed
A mo u nt out
A mou nt repaid standing;
increase
for the period
-
-
$44,625,300.00
108,751, 135.06
152, 103,931.93
3 113, 117,970.34
219,786,560.56
97,265,633.42
87,776,078. 12
29,951,680.23
21,825, 202.58
23,249,644.02
51,046,363.83
$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
20,441, 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
228,200,745. 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
275,965, 538.21
46,334, 715. 19
* 13,011,941.00
40,428,440.07
*2,024,514.73
22,044,924. 19
1949,499, 500.09
850,882,060.02
2256, 249,373.06
2594,632,686.96
56, 133,284.40
132,422,465. 58
298,543, 748. 61
43, 165,290.40
78, 112,411.70
62,900,655.93
226,006, 824.40
20,684,801.71
240,733,012. 09
2 17,158,466.00
57,427,609.99
*22, 167,643.84
2287,099,498.59
184, 178,358.03
287,424,638. 20
*96,753,719.83
63,489,853.51
*55,456,202.42
*38,949,096. 07
23,914,051. 40
87,947,700.34
12,034,738, 64
228,431,946.93
*37,888,377.74
275, 139,876.08
2 + 4,517,895.53
250,059.322.60
2+63, 105,137.44
Total, second quarter----| * 157,895, 152.00
123,896,490.38
2141, 460,200. 75
2*17,563,710.37
100,595, 536.74
34,634, 107.69
21,798,010.53
66,053,436. 74
52,493,748.50
15,610,326.79
67,871, 187.93
35,316,884. 70
322,472,666.53
* 1,817,751. 19
17, 176,863.80
*6,862,339.74
157,027,654.96
134, 157, 512.03 || 3 125,660,739. 16
8,496,772.87
Grand total.-------------- 1,551, 521,805. 64
1,293, 114,420.46 || 3610,794,951. 17
682,319,469.29
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
23,750, 500.00
3,391, 532.00
4,985, 274.32
Total.--------------------
$2,430,500.00 -----------------10, 170,186.68
a$58,642.06
19,624,016. 39
*409,878.87
9,823,631. 19
a 535,840.65
16,577,471. 48
a1,205,474.10
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
21,618, 781.05
4,710,367.98
a 1,596, 899.64
$2,430, 500.00
* 10, 111,544.62
* 19,214, 137.52
29, 287,790. 54
* 15,371,997.38
2 10,618, 658.30
28, 181,926.97
*3,704,624, 39
22, 212,026. 54
*3, 113,468.34
2.99,696,044.75
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
22,288,507. 52
22,080,445.27
2,606,799.34
* 1,124, 164.95
*2,012,779.33
*909, 519.68
10,363,591.41
9,203,176.73
*6,975, 752. 13
22, 227,424.60
1,691,000.00
1,841.231.87
a 1,804,847. 24
2, 375,255.24
1,888,968.45
1,741,824.86
4,017,879.50
*3,135, 193.43
23,436,823.04
* 1,642,624. 26
2+1,246,224. 98
** 1,694,998. 18
25, 337,079. 11
6,006,048. 55
2 10,589,895.97
2+4,583,847.42
266,781.25
892,449.04
281,490. 54
724, 147.01
1,114,230.35
321,417. 65
2,476,046.91
3,197,886.04
32,772,013. 52
41,751,899. 90
42,083,655.69
*2,450, 595.87
Total, third quarter------
1,440, 720.83
2,159,795.01
38, 445,946. 47
*6,286, 151.46
Grand total.--------------
116,837, 436. 10
111,232, 134.96
a35,628,034.64
75,604, 100,32
See footnotes on p. 25.
18
REPORT
OF
T H E
RECONSTRUCTION
FINANCE
CORPORATION
TABLE 6.-Amount ofauthorizations, disbursements, repayments, and amounts out.
standing from Feb. 2, 1982, to Sept. 30, 1933, inclusive, by months and classes—
Continued.
INSURANCE COMPANIES
A m o u n t author- ||
ized 1
Month
A m o u n t dis-
bursed
-
Amount out
Amo unt repaid standing; increase
for the 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
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
249, 134.17
315, 230.93
453,482.77
158,118.02
9,199,358. 28
9,779, 131.07
10,897, 993.39
1,087,034.32
9,810,959.07
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
24,627,689. 07
224,744. 77
1,295, 194.23
** 3,680, 590.68
Total, second quarter----
4,984,704.78
4,881,247.64
27,041,899.32
2+2,160,651.68
July---------August-------------September---------------------
330,100.00
650,000.00
545,000.00
964, 476,50
3,040,046. 40
1,019,754.86
3982, 576.86
42,075,569.90
218,549.89
4447,576.86
January------------February-March--------------
- - - - - - - - - - - - - - - - - -
-
$74,400.00
17,991.37
378, 115.24
99,965. 64
1, 238,304.75
535,000.00
Total, third quarter------
1,525, 100.00
2,737,781.25
35,042,378. 12
4 2,304,596.87
G r a n d total.--------------
99,337,867. 51
86,554,641. 20
* 18,760,050. 28
67,794, 590.92
I
MORTGAGE
NovemberDecember----------------------
See footnotes on p. 25.
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
7,782,289.38
1,550,425.82
3, 184,891.92
1,426,741.85
2,951,205.21
1,470, 665
3,222,581.36
2,018,482. 23
2,002, 729.34
1,317,632.34
2,620,710. 93
2,936,546.08
$1,277,000.00
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
685,097.00
*315,835.15
93,831,902.61
88,402,020, 39
11,322, 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, 530.66
767,237.17
2,384,353.96
30,347,911.94
,540,888.
39,728,433.96
40,427, 153.25
4,153,999. 27
36,273, 153.98
1,344,450.00
5,417,458.00
* 49,405, 143.93
520,010. 92
727,724.48
46, 197, 567.68
3,572,569, 70
*770, 726.77
*946,493.45
* 3,052,558.78
2+43,002.29
245, 251,074.23
256,167,051.93
47,445,303.08
*5,289,789.92
242, 155,513. 16
8,319,811.03
5,776,400.00
6,567,630.84
1,432,403.59
7,057,961.93
1,262,939.98
1,846,684. 17
3,795,422.98
* 1,420,931.95
4.414,280.58
3,262,538.95
*157,991.97
20,663,841.87
9,753,305.50
37,063,039. 10
2,690,266.40
210,391, 230.37
186,027,782. 22
327,829, 103.79
158,198,678.43
REPORT of THE RECONSTRUCTION FINANCE CORPORATION
19
TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts out
standing from Feb. 2, 1932, to Sept. 30, 1933, inclusive, by months and classes—
Continued.
CREDIT UNIONS
Month
Amount out
Amoºthor Anºis.
Am ou nt repaid standing; increase
for the period
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
$3,393.00
275.
1,235.00
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
$338,437.00
25,897.00
5,350.00
* 1,235.00
650.00
4 650.00
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
41,875.00
42,140.00
1,875.00
2, 140.00
4,320.00
5,235.00
1,095.00
1,150.00
June---------------------------
50,000.00
115,495.70
545.00
41,095.00
* 1,150.00
114,950. 70
Total, second quarter----
115,000.00
115,495. 70
2,790.00
112,705. 70
1,214.80
* 1,214.80
841.
$ 771.00
8,967.71
-
July---------------------------August
September---------------------
-
-
-
-
-
10,000.00
9,738.71
* 841.83
Total, third quarter------
10,000.00
9,738.71
32,827.63
6,911.08
Grand total.--------------
617,001.00
574,887. 41
3 18,775.63
556,111.78
FEDERA L LAN D BANKS
$9,000,000.00 ------------------
Total.--------------------
See footnotes on p. 25.
-
-
-
-
2,450,000.00 |
I
|
$9,000,000.00
2,450,000.00
850,000.00 -----------------1,500,000.00 -----------------2,700,000.00 ------------------
,000.00
1,500,000.00
2,700,000.00
29,000,000.00
18,500,000.00 ------------------
18,500,000.00
s º
28,800,000.00
20
REPORT OF THE RECONSTRUCTION FINANCE CORPORATION
TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts out
standingfrom Feb. 2, 1932, to Sept. 30, 1933, inclusive, by months and classes—
Continued
JOINT-STOCK L A N D
Am oun t authorized 1
Mo nt h
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Amount out
-
Am ou nt repaid
--- --- standing;
increase
for the period
-
676,000.00
1,083,822.68
,236,000.00
4,995,822.68
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
900,000.00
3, 130,000.00
1,539,453.87
824, 170.65
258,000.00
32,041.07
39,710.48
*44,078.94
1,507,412.80.
784,460. 17
*213,921.06
6,300, 850.00
2,621,624.52
* 115,830.49
22,505,794.03
852,097.99
1,300,383.90
703, 170. 07
2,855,651.96
46,454. 79
62,065.08
347,934.31
* 156,454.18
805,643.20.
1,238,318.82
655,235.76
2,699, 197.78
10,800,250. 27
3352,013. 30
10,448,236.97
20,628, 172.68
FEDERAL
Am oun t disbursed
$775,000.00 l------------------|------------------|-----------------$724,877. 11
190,000.00
* 16,031.06.
305,000.00
131,349.97
150,000.00
073.
,000.00
122,539.45
576,000.00
15,039.13
595,000.00
156,685. 53
2,126,000.00
435,830.50
1,525,000.00
608,937.03
2,465,301.30
6,297,000.00
2,527,845.62
62,544.32
-
124,500.00
August-------------------------|-----------------September
2,910,000.00
Total, third quarter-----3,034, 500.00
G r a n d total.--------------
BANKS
INTERMEDIATE
CREDIT
BANKS
1933
March-------------------------
$9,250,000.00
AGRICULTURAL
December---------------------Total--------------------
See footnotes on p.25.
$9,250,000.00
$9,250,000.00 ------------------
CREDIT CORPORATIONS
225,882.05
3,619,850.98
$1,000.00 -----------------,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
74.450.98
539,074.94
1,206, 884.22
356,814.61
276,909.98
352,082.06
212,619.43
285,914.76
3,456,627.33
1,082,310.40
$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
2,374,316.93
101,252.10
240,000.00
442,904.36
784, 156.46
155,952. 10
2,647.85
244,722.72
403,322.67
207,830. 11
167, 148.22
175,351.39
550,329.72
*51,878.01
* 164,500.37
69,371.33
* 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
*7,475.09
**3,211.90
384,924.92
197,866.93
76,730.88
195,922. 58
464,345.92
279,255.80
153,124, 13
175,878.58
*570,004. 17
254, 111.58
155,384.25
*91,563.44
2* 105,658.25
25, 14.4.22
* 2,260. 12
84,315. 14
470,520.39
608,258.51
5,259,452.75
4,932,554.43
a501,059.27
*2,703,703.56
107,199.24
2,228,850. 87
REPORT OF THE RECONSTRUCTION FINANCE CORPORATION
21
TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts out
standingfrom Feb. 2, 1932, to Sept. 30, 1933, inclusive, by months and classes—
Continued
REG IONA L AG RI CU LT UR AL CREDIT CORPORATIONS
Am oun t out
-
Amount author- | Am oun t dis
ized I
bursed
Month
A mo u nt repaid standing; increase
for the period
1932
December----------------------
$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
* 1,330,314.09
15,165,262.81
16,467,998.41
* 18,375,709. 65
57,811,623.81
53,242, 566,27
23, 233,595.40
250,008,970.87
18, 119,962.42
22,855,433.69
17,321,307.67
19,214,707.12
,262,884.81
17,813, 925.71
22,009, 169.89
*2,652, 548.71
24,473,930.65
* 17,205,537. 23
*20,610,336. 10
* 13,339,995.06
1933
January-----------------------February----------------------March-------------------------
Total, second quarter----
58,296,703.78
60,291,517.64
*9, 135,649.25
* 51,155,868.39
July----------------------------
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, 148,031.30
*22,664, 153.23
9,388,838.76
*24,349, 178.73
*20,209,530.83
30,015,863.09
28,540,731.43
363,710,602. 23
*35,169,870.80
Grand total.--------------
153,410, 163.18
147,446,877.94
*76,080, 501.91
71,366,376.03
LIVESTOCK CREDIT CORPORATIONS
September
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.
147,467.62
1,574,457.21
11,810,403. 61
$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
*1,426,989.59
4,062,258. 82
7,748,144.79
1,453,586.08
,864. 29
397, 576. 56
*1,384,186.08
*871, 137. 12
4397,576. 56
2,771,026.93
42,652,899.76
*248,976.98
*243,254, 35
*+250,727.39
1933
January-----------------------February
March-l-
100,000.00
116,000.00
100,000.00
116,000.00
359,976.98
343,254.35
2366, 727.39
476,100.00
327,000.00
21,069,958. 72
2+742,958,72
315,517.13
651,462. 14
*208,863.82
*315,517. 13
*651,462. 14
*208,863.82
* 1,175,843.09
*1,175,843.09
39,079,087. 56
3, 176,443.22
-
Total, second quarter----
Total, third quarter-----Grand total.--------------
Seefootnoteson p. 25.
400,000.00 -----------------14,189,402.85
12,255,530.78
22
REPORT
OF
T H E
RECONSTRUCTION
FINANCE
CORPORATION
TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts out
standingfrom Feb. 2, 1932, to Sept. 30, 1933, inclusive, by months and classes—
Continued
R AI L RO A DS (INCLUDING RECEIVERS)
A m o u n t authorized 1
Month
-
Amount out
-
A m o u n t dis-
bursed
A mo un t repaid standing; increase
for the period
- -
-
-
1932
February----------------------
December----------------------
$46,975, 757.00
13,812,000.00
37,931,457.00
,923, 538.00
54, 239,972.00
16,392,085.00
12,798,583.00
21, 293, 541.00
25,926, 269.00
,226,000.00
8,915,891.00
$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
2,203,000.00
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
,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
23,021,316.00
,520,309.34
22,520,074.48
Total.--------------------
337,435,093.00
284,311,271.48
11,839,562.71
272,471,708. 77
January-----------------------February
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
8,322,417.82
102, 189.40
7,569,547.64
16,187,755.98
14,690,701.90
28,347,750.00
46,886,616. 74
8,438, 6.11.22
38,448,005. 52
12,275, 136.31 -----------------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
March-------------------------
April--------------------------May--------------------------June---------------------------
July---------------------------August------------------------September--------------------October-----------------------November---------------------
Ma rch---
-
-
-
-
Total, first quarter-------
July---------------------------------------------August------------------------3,862,000.00
September---------------------|----
-
-
-
-
-
-
-
-
-
-
-
-
-
48, 530,513.29
*5,390,876. 38
2.43, 139,636.91
1,302,600.00
24,073, 118.10
469,727.04
*360,000.00
*22,770, 518.10
* 187,927.04
653,300.00
281,800.00
1,013,300.00
Total, third quarter------
3,862,000.00
2,597,700.00
324,902,845. 14
*22,305,145.14
Grand total.--------------
411, 701,426.00
382,326, 101.51
a 50,571,895.45
331,754,206.06
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
$3,000,000.00 ------------------|-----------------------------------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
$2,034. 55
17,268,354.97
22,939, 183.60
21,653,141.09
3,541.00
21,649, 600.09
47,042, 590.68
44,060. 901.82
109,881. 40
43,951,020.42
Total.--------------------|
April
M ay June---------------------------
Total, second quarter----|
July---------------------------August------------------------September--------------------Total, third quarter-----Grand total.-------------See footnotes on p. 25.
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
54,201,509.2
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
2347,853.91
47,048,733. 52
54,487,456.22
26, 149,979. 32
94,297,408.66
108,685,850, 71
2999,681.65
a 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
*611, 199.52
11,087,222.92
5,277,849.98
6,497,923.
5,355,292.so
642,265,395.34
2,350,478,so|
356,776, 105.74
1,517,480s.
22,862, 995.99
a 2,964, 226,19
353,811,879.55
REPORT OF THE RECONSTRUCTION FINANCE CORPORATION
23
TABLE 6.-Amount ofauthorizations, disbursements, repayments, and amounts out
standing fram Feb. 2, 1932, to Sept. 30, 1933, incluseve, by months and classes—
Continued
SELF-LIQUIDATING PROJECTS-SEC. 201_(A), TITLE II (INCLUDING LOA NS F O R FI
NANCING
REPAIR O R R E C O N S T R U C T I O N O F BUILDINGS D A M A G E D B Y E A R T H
QU A KE , FIRE, T O R N A D O , O R C Y C L O N E IN 1933)
Mo n th
Amount out
Amoºthor Anºis.
Amount repaid standing; increase
for the period
1932
September--------------------October-----------------------November--------------------December----------------------
Total.--------------------
$53,105,000.00 ------------------|------------------|-----------------79,932,880.00
4,324,744.00
$360,000.00 -----------------,000.00
8,412,910.24
15,377,000.00 -----------------15,377,000.
-
145,775, 534.24
15,737,000.00 ------------------
-
-
15,737,000.00
1933
January-----------------------February---------------------March-------------------------
8,945, 100.00
24,810,372.20
17,759,425.35
Total, firstquarter-------
51,514,897. 55
4,947,000.00 ------------------
4,947,000.00
ay--------------------------June---------------------------
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
*22, 100.00
4,442,000.00
2,105,462.06
22,902,719.35
Total, Second quarter----
33,609,338.45
9,492,281.41
a42,100.00
*9,450, 181.41
7,853,970. 51
3,851,648. 18
6,740,302.08
18,445,920.77
15,675.00
22,900.00
* 1,650.00
*40,225.00
7,838,295.51
3,828,748.18
6,738,652.08
18,405,695.77
48,622, 202, 18
*82,325.00
48,539,877. 18
#.---------------------------
Grand total.-------------FiNANCING
230,899,770.24
2,600,000.00
327,000.00
2,020,000.00
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 - S E C , 201 (C), T I T L E II
$1,497, 503.38 |-----------------1,903,990.01 ||-----------------341,170.88
3$55,857.49
3,742,664. 27
FIN ANCIN G OF A GR I C UL T U RA L
cºnties A N D
- - - - - - $ 4 5 1 , 5 8 0 . 1 2
See footnotes on p. 25.
355,857.49
||
$1,497, 503.38
,903,990.01
285,313.39
3,686,806.78
LIVESTOCK–SEC. 201 (D),
$2,034.55'
$440,545.57
830,276.97
158,117.00
3,541.00
109,881. 40
,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
779,802.20
32,302. 20
75,295.96
104,024.04
211,622. 20
144,281. 14
60,759.60
126, 566.04
331,606.78
* 111,978.94
14,536.36
*22,542.00
* 119,984. 58
225,329.43
55,000.00
174,280.00
454,609.43
1,349,879.30
465,354. 37
212,668.80
2,027,902.47
110,270.37
186,657.37
2194,508.91
2491,436.65
1,239,608.93
278,697.00
218, 159.89
21, 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
$376, 192.03
452,975.98
*275, 150.39
*348,542.38
2,474,750.00
746,741. 53
3917,458.32
*170,716.79
58,485,082.30
4,426, 240.29
* 1,855,958. 70
2,570,281.59
24
REPORT OF THE RECONSTRUCTION FINANCE CORPORATION
TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts out
standingfrom Feb. 2, 1932, to Sept. 30, 1933, inclusive, by months and classes—
Continued
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
Amount out
Am oun t dis
bursed
Amount author
M o nt h
ized 1
A mo un t repaid standing;
increase
for the period
1932
July---------------------------August----SeptemberOctober----
November-
$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
.00
20,462, 864. 12 |-----------------20,462,864. 12
00
28,525,784.82 |-----------------28,525,784.82
79,967,042.09 ||------------------
79,967,042.09
40,179,570. 14 |-----------------39,408, 511.25 ||-----------------41,819,058.46 ------------------
40,179, 570.14
39,408,511.25
41,819,058.46
121,407,139.85 |------------------
121,407, 139.85
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
97, 165,666.83
96,699, 521.83
22
-
-
-
-
-
466,145.00
1,298,448.05 -----------------146,702.18
326,440.00
* 177,500.00
-
-
-
-
-
-
-
-
-
-
-
-
-
1,298,448.05
*179,737.82
* 177,500.00
1,445, 150.23
3 503,940.00
941,210.23
299,984,999.00
s970,085.00
2.99,014,914.00
T O T A L , A C T O F C O N G R E S S A P P R O V E D M A R . 9, 1933, A S A M E N D E D
Total, second quarter----
$12,750,000.00 ------------------
$12,750,000.00
7,582,500.00 -----------------5, 150,000.00 -----------------17,985,500.
24,685.00
7,582,500.00
5, 150,000.00
*17,980, 815.00
32,485,500.00
30,718,000.00
24,685.00
*30,713,315.00
14,798,000.00
3,521,000.00
4,410,000.00
8,185,000.00
7,677,500.00
3,776,000.00
6,233.03
8,178, 766.97
7,676,598.25
3,775,950.00
901. 75
* 50.00
Total, third quarter------
22,729,000.00
19,638,500.00
37, 184.78
19,631,315.22
G r a n d total.--------------
70, 147,000.00
63, 106,500.00
2 11,869.78
63,094,630.22
LOANS ON P REFERRED STOCK OF BANKS
$250,000.00
1,000,000.00
* 10,930,315.00
August------------September
Total, third quarter-----Grand total
See footnotes on p. 25.
10,935,000.00
11,935,000.00
24,685.00
* 11,930, 315.00
2,115,500.00
126,000.00
650,000.00
40,000.00
552,500.00
6,233.03
33,766.97
551, 598.25
175,950.00
176,000.00
901. 75
* 50.00
2,891, 500.00
768,500.00
37, 184.78
761,315,22
15,076, 500.00
12,953, 500.00
3 11,869.78
12,941,630,22
REPORT OF THE RECONSTRUCTION FINANCE CORPORATION
25
TABLE 6.-Amount of authorizations, disbursements, repayments, and amounts out
standingfrom Feb. 2, 1932, to Sept. 30, 1933, inclusive, by months and classes—
Continued
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
A mo u nt author-
Month
ized 1
ze
A mou nt disurse
Amount out
Am oun t repaid standing;
increase
forthe period
1933
March-----------------
-
-
-
-
-
-
-
-
$13,682, 500.00
$12,500,000.00 ------------------
$12,500,000.00
7,400,000.00
9,112,500.00
,838,000.00
7,582,500.00
4, 150,000.00
6,850, 500.00
Total, second quarter----
21,350, 500.00
18,583,000.00 ------------------
18,583,000.00
July----------------------------
12,682,500.00
2,895,000.00
3,760,000.00
8,145,000.00 -----------------6,625,000.00
3,600,000.00
8, 145,000.00
6,625,000.00
3,600,000.00
August-----------------------
September---------------------
Total, third quarter------
19,337,500.00
18,370,000.00 ------------------
18,370,000.00
Grand total.--------------
54,370, 500.00
49,453,000.00 ------------------
49,453,000.00
P U R C H A S E S OF CAPIT AL N O T E S A N D D E B E N T U R E S OF B A N K S
1933
$200,000.00
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
[To Secretary ofAgriculture to acquire cotton, sec. 5, titleI)
*These figures have been adjusted on account ofrescissions.
*Revised.
*Exclusive ofrepayments unallocated, pending advices, as ofSept.30, 1933.
* Decrease.
26
REPORT OF THE RECONSTRUCTION FINANCE CORPORATION
TABLE 7.-Number of borrowers and amounts of loans authorized under sec. 5 of
the Reconstruction Finance Corporation Act, as amended, Feb. 2, 1932, to Sept.
30, 1933, inclusive, by size of cities or towns
Total, Sec. 5, Reconstruction Finance
Corporation Act, as amended 1
-
Banks and trust companies
Population
s or
t o w n s in wof
h iccit
hiebor-
B
h
i
Authorizations
o rr ow er s
Borrowers
Authorizations
-
rowers are located
Nº
. Per-
Per-
cent of
Amount
cent of
total
total
Under 5,000------------ 4,466
5,000 to 9,999----------501
10,000 to 24,999--------460
25,000 to 49,999--------223
50,000 to 99,999--------189
100,000 to 199,999------138
200,000 to 499,999------97
500,000 to 999,999------128
1,000,000 and over-----115
Total.------------
70.7
8.0
7.3
3.5
3.0
2.2
1, 5
2.0
1.8
6,317 | 100.0
$209, 947,771.47
69, 763,042.54
107,142,628.42
93,369,930.37
184,000,964.09 ||
140,351, 204. 14
183,519, 266.30
336, 506,749.81
226,920,248.50
1,551, 521,805. 64
PerNº. cent
of
total
Pe r
cent of
A m o un t
total
13.5
4,675
61.0
4.5
6.9
6.0
11.8
21.7
14.6
596
632
372
346
227
323
273
218
7.8
8.2
4.9
4.5
3.0
4.2
3.6
2.8
$228, 159,244.35
78,079,578.71
132,310,738.00
115,235,877.49
218,298,994.35
170,298,697.36
274, 990,301.30
478,011,487.31
323,397,450.03
11.3
4. 0.
6 .5
5.7
10.8
8.4
13.6
23.7
16.0
100.0
7,662
100.0
2,018,782,368.90
100.0
11.9
9. 1
i Exclusive of railroads, regional agricultural credit corporations, Federal land banks, and Federal
intermediate credit banks.
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 ofSept. 30, 1933
W A S H I N G T O N OFFICE
Name
Title
Basic
salary
I no n
Jones, Jesse H-----------------$833.33
Blaine, John J.-----------------833. 33
Couch, Harvey C--833.33
McCarthy, Wilson--833.33
Merriam, C. B.-----833.33
Taber, Frederic H-------------833.33
Talley, Lynn P----------------1,041.67
Reed, Stanley------------------ General counsel -------| 1,041.67
Cooksey, George R------------- Secretary---833. 33
Mulligan, H. A.----------------833, 33
Fitts, William C--------------833.33
Fleming, William L.
833.33
Guthrie, Charles S------------833.33
Hahn, Harold H-------------833.33
Pierson, Warren L------------833.33
Ross, Clarence H--------------833.33
Johnson, Ben-------------------| Special assistant----------------------------------833.33
Schwulst, E. B-----------------|-----do--------------------------------------------833.33
Barriger, J. W., 3d--------------| Chief examiner, railroad division-----------------833.33
McKee, John K---------------- Chief, examining division------------------------833. 33
Sheehan, William F------------ Assistant chief, examining division---------------833.33
Persons, Henry Z--------------- Examiner----------------------------------------833.33
Hovey, Ford E----------------- Special examiner---------------------------------833.33
Whitaker, Harry E------------- Assistant chiefengineer--------------------------800.00
Koenig, Herbert A.------------ounsel
766.67
Brownell, R. A.----------------- Chief, agency division-750.00
Mandeville, Charles H. W----- E x a m i n e r
750.00
Alley, James B.-----------Counsell708.33
fougherty,J.L.I.I.I.I.I.I.I.I.T. 0 - - - - - - - - - - - - - - - - - - - - - - - - - - - Taylor, R. J.------------New ma n, Harold W., Jr-
Assistant chief, agency division--Counsel
Corcoran, Thomas G----------- Assistant to the Secretary of the Treasury (or
Under Secretary), director ex officio.
Clay, Cassius M---------------- Counsel------------------------------------------Cross, Guernsey T-
Snodgrass, Russell
Lindquist, R. J.---Klossner, H. J.
Ribenack, W . C.Rowe, John A., Jr.
Shaver, Clem
d
Counsel-------------------------------------------
Special assistant-----------------------------------
708. 33
700.00
700.00
666.67
666.67
666.67
666. 67
666.67
666.67
666.67
650.00
625.00
Net
salary
mont
$708.33
70s. 3 3
708.33
708.33
708.33
708.33
972. 2 2
972.22
777.77
777.77
708.33
708.33
708.33
708.33
708.33
708.33
70s. 33
708.33
708.33
70s. 3 3
708.33
70s. 33
708.33
680.00
651. 67
637.50
637.50
602.08
602.08
595.00
595.00
566.67
566.67
566.67
566.67
566.67
566.67
566.67
552.50
531. 25
REPORT of TH E RECONSTRUCTION FINANCE CORPORATION
27
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 Sept. 30, 1933—Continued
W A S H I N G T O N O FFI CE –C on tin ue d
Name
Title
Basic
Net
salary per salary per
mont
Herson, James F--------------- Administrative assistant-------------------------Baxter, No rm an W------------- Assistant to the directors--, D.
F
, Emil----Elliott, David C--Parrish, J
Beach, Robert STaylor, Tyre---West, G. Albert--McCarty, William G.
Sullivan, Harry L.
Chief, drainage, levee, and irrigation division------|
Chief, statistical division-------------------------Assistant chie , examining division---------------C
l
-
-
-
-
-
Hamilton, Claude E.,Jr.-------Buckles, W a r d M-------------Buckley, E. F------------------
Chadduck, Harry W---------Kilbourn, J. F----------------McGrath, M . J.---------------Powell, Alexander H---------eed,
- 0------------------Wilson, J. C.------------------Rossman, Richard-------------Fort, James L.-----------------Costello, W . C.----------------Grimes, Oliver J---------------ays, R. B--------------------Hoeltzel, Lloyd C-------------Kuehl, Frank W--------------Smith, Elbert L.---------------Unzicker, Willard E-----------arrell, Edward A.-------------Swift, W . E.--------------------
Assistant to Mr. McCarthy
Assistant to Mr. Merriam
Assistant to Mr. Tabe
Assistant to Mr. Blaine-Assistant to Mr. Couch
Assistant treasurer
Supervising accountant---------------------------
Chiefengineer,drainage,levee,and irrigationdivi-
mont
$625.00
$531.25
625.00
625.00
625.00
625.00
625.00
625.00
625.00
625.00
625.00
625.00
600.00
600.00
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
495.83
495.83
495.83
495.83
600.00
583.33
583.33
583. 33
583.33
583. 33
566.67
541. 67
541.67
541. 67
541. 67
541.67
541. 67
541.67
541. 67
541. 67
541.67
529, 17
516.67
500.00
500.00
500.00
500.00
500.00
500.
500.00
500.00
500.00
495.83
481. 67
460. 41
460. 41
460. 41
460. 41
460.41
460.41
460. 41
460.41
460. 41
460.41
449, 79
439.17
425.00
425.00
425.00
425.00
425.00
425.00
425.00
425.00
425.00
s i on .
per, James H---------------- Supervising engineer-----------------------------Wolford, Albert M------------- Counsel------------------------------------------Henry, John L.----------------- Special representative----------------------------O'Neal, W . P.------------------|----- 0 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Rickey, Frank------------------ Field representative------------------------------Augherton, George A.----------- Examiner-----------------------------------------
Attorney-----------------------------------------Special assistant-----------------------------------
-
Examiner----------------------------------------Counsel------------------------------------------o---------------------------------------------|
-
-
-
-
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
500.00
493. 33
483.
483. 33
466.67
458.33
458.33
458.33
450.00
450.00
50.00
416.67
416.67
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
425.00
425.00
425.00
425.00
425.00
419. 33
410.83
410.83
396.67
389. 58
889. 58
389, 58
382.50
382, 50
382.50
354. 17
354.17
28
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 more than $400
per month, as of Sept. 30, 1933—Continued
W A S H I N G T O N O FF I CE –C o nt in u ed
Basic
Name
Title
Net
salary perisalary per
mont
Seeley, Harold J---------------------do--------------------------------------------Strong, Albert L---------------------do--------------------------------------------Webb, George T----------------|-----do--------------------------------------------Tracy, Frank T----------------| Chief clerk---------------------------------------Coleman, John F----- Special engineer adviser--------------------------Harrington, John Lyle----------|--|-- 0 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
month
$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
(1)
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
(2)
(1)
(?)
L O A N AGENCIES 3
Atlanta, Ga:
Bergstrom, A. M----------- Manager-----------------------------------------Chadwell, W . A.------------ Assistant manager-------------------------------Birmingham,
Ala.:
Cottingham, T. J.------------ Manager-----------------------------------------Boston, Mass.:
Osgood, Edward H---------|-----do--------------------------------------------Vose, Fullerton CAssistant manager
Scott, William N
Examiner----------------------Charlotte, N.C.: Campbell, Manager---------John A., Jr.
Chicago, Ill.:
Moore, Ira A---------------|-----do--------------------------------------------Zeiss, Carl HAttorney-------------------------Walker, Lee----------------|-----do--------------------------------Ernst, D. W.Chief, closed banks-------------------Best, James M.-Attorney-----------------Black, Craig O.-Examiner------------Townsend, BruceField representative--Gregson, William F.
Examiner------------Hoel, M . O.-------Attorney---------------Walters, Harold S----------|-----do-----------------------------
Knight, H. B.----
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Examiner---------------------------
Smith, James C------------|-----do----------------------------Tuohy, Arthur-------------|-----do--------------------------------------------Cleveland, Ohio:
Callander, F. S.------------- Assistant manager
Davies, M .
Exa mine r
Tex.; Andrews, Warren | Manager------------------------------------------
Pºlas,
$625.00
$531.25
416.67
354. 17
600.00
510. 00.
833. 33
541.67
416.67
450.00
708. 33.
460. 41
354.17
382.50
833.33
708.33
625.00
625.00
500.00
500.00
500.00
500.00
500.00
450.00
416.67
416.67
416.67
708.33
602. 0.8
531.25
531.25
425.00
425.00
425.00
425.00.
425.00
382.50
354. 17
354.17
354.17
666.67
416.67
700.00
566.67
354.17
595.00
833.33 ||
500.00
500.00
500.00
708.33
425.00
425.00
425.00
Detroit, Mich.:
Fisher,CharlesT. Jr.----------do.-------------------------------------------Hewitt, Charles H
Houston, Tex.: Ford, R. F
Jacksonville, Fla.:
Fred H.
-
1 July 1 to Sept. 6 as member of the Engineers' Advisory Board at rateof$833.33 per month less 15 percent,
$1,558.31; Sept. 22 to Sept. 30 as special engineer adviser at rate of $32.50 less 15 percent per day when e m
ployed, $110.50.
*July 1to Sept. 21 as member of the Engineers' Advisory Board at rateof$833.33 permonth less15 roent,
$1,912.47; Sept. 22 to Sept. 30 as special engineer adviser at rate of$32.50 less 15 percent per day when e m
ployed, $165.75.
Except as herein indicated, attorneys handling legal matters of the various agencies of the Corporation
do not receive salaries but are paid in the customary wa y according to the character and volume of the
work performed and therefore are not included.
REPORT of T HE 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 of Sept. 30, 1933—Continued
L O A N AG ENCI ES.– Cont inue d
Basic
Net
salary peristlary per
month l month
-
Name
Title
Kansas City, Mo.:
Hodges, Frank------------- Manager------------------------------------------Rice, Carl V---------------- Counsel-------------------------------------------
$833.33
$708.33
666.67
566.67
625.00
416. 67
500.00
531.25
354. 17
425.00
Los Angeles, Calif
LeRoy, A. R--------------Scroggs, Thomas C--------Ky.: Rash, Frank
lºsville,
Miº
lis,Minn.: Chapman,
oseph.
Nºle.
Tenn.: Gardenhire,
N e w Orleans, La.:
Buskie, George F
Robertson, George W.
Knight, M . J.--------------N e w York, N.Y.:
Mahoney, Daniel J
Watson, Ernest H
Smith, Frederick P--------Ahearn, Thos. J., Jr.
Sandford, C
Stevens, Harry L.
Tyree, Young-------------Clarke, A. J., Jr.------------
Omaha, Nebr.: Mudgett, C. F.
Philadelphia, Pa.:
Graham, Samuel, Jr.--------|-----do--------------------------------------------Denworth, Hu gh F--------- Assistant managerThompson, John M-------- Office attorney--Gretz, Arthur A . I I I . Examiner---Portland,
Oreg.:
Shultz, Manager-----------------------------------------Walter D.
Wa.:
Doughton, -----do---------------------------------------------
Rºgona,
s º City, Utah: Smith,
625.00
531.25
500.00
425.00
683. 33
416.67
416.67
580.83
354.17
833.33
833.33
666.67
625.00
500.00
458.33
458.33
416.67
500.00
777.77
777.77
531.25
425.00
389. 58
389. 58
354.17
425.00
833.33
500.00
500.00
708.33
425.00
425.00
441.67 ||
375.42
450.00
382.50
354.17
566.67
700.00
595.00
-------------!
450.00
382.50
San Antonio, Tex.: Meer- ||-----do--------------------------------------------scheidt, Otto.
n Francisco,
Calkins, A. A.--------------|-----do--------------------------------------------Hossack, Harry F---------- Examiner----------------------------------------St. Louis, Mo.:
Vardaman, James K., Jr.----| Manager-----------------------------------------Coerver, Joe F-------------- Assistant manager--------------------------------
500.00
425.00
-----do----------------------------
as A .
600.00
(*)
833.33
500.00
510.00
(*)
708.33
425.00
*Employed on per diem basis at$25 per day less 15percent. Compensation forJuly,basicrate,$500less
15percent, $425. Compensation for A
tember, basic rate, $500 less 15 percent,
t, basic rate, $500 less 15 percent, $425.
25.
Compensation for S e p
30
REPORT of THE RECONSTRUCTION FINANCE coRPORATION
TABLE 9.—Statement of cash receipts and expenditures during the third quarter,
1933–Corporation's accounts with Treasurer of United States
Cash balance at the close of business June 30, 1933, as per the
books of the treasurer of the Corporation.----------------- $3,283,014. 40
Deduct: Correction of error in June disburse
ment reported to the treasurer of the C o r
oration subsequent to June 30, 1933.------
$195,478.66
Add: Checks issued prior to July 1, 1933, can
celed in July 1933-----------------------
1,052. 16
194,426. 50
-
Adjusted cash balance at the close of business June 30,
1933-------------------------------------------Receipts:
3,088, 587. 90
ale of series C 3% percent notes--------$135,000, 000.00
Loan repayments:
Banks and trust companies (includ
ing receivers)------------------- 124, 116, 128.94
Credit unions--------------------2,827. 63
Building and loan associations-----8, 307,236. 37
Insurance companies-------------4, 929, 323. 22
Joint-stock land banks------------156, 454, 18
Livestock credit corporations------1, 175, 843.09
Mortgage loan companies---------7,063,039. 10
Regional agricultural-credit corpora
tions-------------------------- 63, 127, 127. 73
Other agricultural-credit corpora
tions-------------------------501, 059.27
Railroads------------------------ 24, 902, 845. 14
For self-liquidating projects under
sec. 201 (a) (bonds paid—par
$7,000)-----------------------7,000.00
For repair or reconstruction of prop
erty damaged by earthquake, etc.33, 225.00
For financing sale of agricultural sur
pluses in foreign markets--------55,857. 49
Institutions under sec. 201 (d)-----917, 458.32
Secured by preferred stock banks and
trust companies----------------7, 184.78
Relief disbursements (1932 act) repaid--503, 940.00
Interest and discount collected ----...---- 12, 990, 061. 64
Reimbursable expense collected.--------85,637.68
Repayments on advances for care and
preservation of collateral-----------111, 358.99
Collections on collateral to rediscounts--164, 136.00
Collections on collateral purchased.-----80, 374. 09
Funds of regional agricultural credit
corporations-----------------------9, 300,000.00
Capital reductions regional agricultural
credit corporations-----------------Refunds of expenses paid--------------Unallocated—pending advices-------...-Miscellaneous (including amounts credited
in error)-------------- -
-
-
-
-
-
-
-
-
-
-
-
-
12, 300,000.00
13,011. 06
16, 524, 185. 68
726, 936.45
423, 102, 251.85
426, 190, 839.75
REPORT OF THE RECONSTRUCTION FINANCE CORPORATION
31
TABLE 9.—Statement of cash receipts and expenditures during the third quarter,
1933–Corporation's accounts with Treasurer of United States—Continued
Expenditures:
Loan disbursements:
Banks and trust companies (includ
ing receivers),-------------------$134, 252, 303. 10
Credit unions--------------------9, 738. 71
Building and loan associations-----2, 159,795.01
Insurance companies------------2,737, 781. 25
Federal land banks---------------7,000,000.00
Joint-stock land banks------------2,855,651.96
Mortgage loan companies---------9, 753, 305.50
Regional agricultural credit corpora
t ion s-- --- --- --- --- -- --- --- --- 27, 884, 680. 96
Other agricultural credit corpora
ti on s- -- -- --- -- -- -- --- -- -- -- --608, 258. 51
Railroads-----------------------2, 597, 700.00
For self-liquidating projects under
sec. 201
(bonds and notes p u r
chased—par $17,450,750) -------- 17, 199,763. 16
For repair or reconstruction of prop
º
ertydamaged by earthquake, etc.For financing sale of agricultural sur
pluses in foreign markets--------Institutions under sec. 201 (d)-----Secured by preferred stock banks and
trust companies-----------------
1,237, 477. 61
3,742, 664. 27
746, 741. 53
768, 500.00
Secretary of Agriculture (Agricultural
Adjustment Act) ---------------3,300,000.00
1,445, 150. 23
Relief grants (1933 act)---------------- 126,810, 041.97
Relief disbursements (1932 act)---------
Payments of subscriptions to capital of
regional agricultural credit corpora
tions------------------------------
2,800,000.00
Payments of subscriptions to capital of
regional agricultural credit corpora
tions (increases)---------------------
9,500,000.00
Purchase of preferred stock banks and
trust companies--------------------Purchase of capital notes and debentures
banks and trust companies-----------
18, 370,000.00
500,000. 00
Payments to Secretary of the Treasury
§.
purchase of stock of Federal home
loan banks).------------------------
14,400,000.00
Payment to Secretary of the Treasury
§. purchase of stock of Ho m e Owners'
Loan Corporation).-----------------Payments to land bank commissioner---Withdrawal by regionalagricultural credit
corporations of funds held for them---
1,000,000.00
8,400,000.00
12, 300,000.00
Advances for expenses regional agricul
tural credit corporations (to Farm
Credit Administration).--------------
1,075, 600.00
Advances forexpenses Federal Emergency
Relief Administration----------------
80, 150. 37
Advances for care and preservation of
collateral---------------------------
Refund of interest overpayments.-------
195, 744. 13
170, 488. 25
127, 745. 59
1,664. 45
Release of cash collateral to rediscounts-Interest on cash collateral to rediscounts-Discount rebates and refund of unearned
discount---------------------------
195, 991. 15
Release offunds held in suspense--------
322, 997. 53
Accrued interest on bonds purchased (self
liquidating projects)----------------Accrued interest on notes purchased
165, 193. 44
(mortgage loan company)------------
4, 882. 19
32
REPORT of THE RECONSTRUCTION FINANCE CORPORATION
TABLE 9.—Statement of cash receipts and expenditures during the third quarter,
1933–Corporation's accounts with Treasurer of United States–Continued
Expenditures—Continued.
Deposit with bid for purchase of bonds
(self-liquidating project) ----------Additions to petty cash funds--------Furniture and fixtures--------------Expense—general------------------Expense—loan agency--------------Expense—custodian----------------Reimbursable expense--------------Miscellaneous (including refunds and a d
justments for amounts credited in
error)---------------------------— —
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
$8,680.
375.
51, 932.
676, 596. 10
694, 425.85
497, 318. 57
186,903. 28
714,325,19
$ 4 1 7 ,
550, 567. 18
Cash balance at the close of business
Sept. 30, 1933-----------------------------------
8, 640, 272.57
Note.—In addition tofunds on deposit with the Treasurer ofthe United States, custodian banks held
insuspensefunds which amounted to $658,483.87 at the closeofbusinessJune 30,1933, and $2,934,385.45 at
the close of business Sept. 30, 1933.
TABLE 10.-Statement of cash receipts and expenditures, Jan. 1, 1983 to Sept. 30,
1983, inclusive—Corporation's accounts with Treasurer of United States
Cash balance at the close of business Dec. 31, 1932
$7,927, 927. 23
Receipts:
ale of series A 3 % percent notes----- $190,000,000.
Sale of series B 3% percent notes----- 335,000, 000.
Sale of series C 3% percent notes----- 385,000,000.
Loan repayments:
Banks and trust companies (in
cluding receivers)-----------Credit unions------------------
Building and loan associations--Insurance companies----------Federal intermediate credit b a n k s
Joint-stock land banks----------
Livestock credit corporations---Mortgage loan companies------Regional agricultural credit cor
porations-------------------Other agricultural credit corpora
tions-----------------------
For self-liquidating projects under
sec. 201 (a) (bonds paid—par,
$47,000) -------------------For repair or reconstruction of
property damaged by earth
quake, etc.------------------For financing sale of agricultural
surpluses in foreign markets--Institutions under sec. 201 (d)--Secured by preferred stock banks
and trust companies---------Relief disbursements (1932 act) re
paid---------------------------Interest and discount collected-------
Reimbursable expense collected.-----Repayments on advances for care and
preservation of collateral----------
351,838, 890.
9, 937.
25, 161, 157.
12,052, 718.
9, 242, 975.
289, 468.
5, 016,828.
15, 395, 889.
75, 333,085.
1, 621, 376.
38, 732, 332.
47,000. 00
35, 325. 00
55,857. 4 9
1, 740, 501. 75
11, 869. 78
970,085. 0 0
33, 992, 353. 5 0
189, 184. 1 4
Collections on collateral purchased.---
185, 019. 93
439, 990. 0 2
230, 635. 98
Funds of regional agricultural credit
corporations---------------------
10, 800,000. 00
Collections on collateral to rediscounts
REPORT OF TH E RECONSTRUCTION FINANCE CORPORATION
33
TABLE 10.-Statement of cash receipts and expenditures, Jan. 1, 1983 to Sept. 30,
1933, inclusive—Corporation's accounts with Treasurer of United States—Contd.
Receipts—Continued.
Return of petty cash--------------Return of deposits with bids for pu r
chase of bonds (self-liquidating proj
ects)----------------------------
$250, 00
130, 820.00
Capital reductions regional agricultur
al credit corporations------------Refunds of expenses paid-----------Funds received from Secretary of A g
12, 300,000.00
41,055.00
riculture------------------------
5,000,000.00
22, 521, 151. 53
Unallocated—pending advices-------
Miscellaneous (includingamounts cred
ited in error and remittances not
collected)----------------------—
$
908, 653.59
1
,
534, 294, 413.85
1, 542, 222, 341.08
Expenditures:
Lo an disbursements:
Banks and trust companies (in
cluding receivers)-----------Credit unions------------------
Building and loan associations--Insurance companies----------Federal land banks------------Federal intermediate credit banksJoint-stock land banks----------
Livestock credit corporations----
Mortgage loan companies-------
442, 248, 152. 22
134,789. 41
17, 369,020. 29
18, 517, 022. 28
10, 300,000. 00
9, 242, 342. 72
8, 272, 404. 65
445, 127. 17
97, 624, 478. 15
Regional agricultural credit corpo
rations----------------------
137, 585, 656.83
Other agricultural credit corpora
tions-----------------------
Railroads (including receivers)--For self-liquidating projects under
sec. 201 (a) (bonds and notes
purchased—par, $31,478,500)-For repair or reconstruction of
property damaged by earth
quake, etc.------------------For financing sale of agricultural
surpluses in foreign markets--Institutions under sec. 201 (d)--Secured by preferred stock banks
and trust companies----------
1,475, 927. 10
98,014, 830. 03
30, 949, 945. 42
1, 916, 372.61
3, 742, 664. 27
2,986, 266. 20
12, 953, 500.00
Secretary of Agriculture (Agricul
tural Adjustment Act)-------3, 300,000.00
Relief disbursements (1932 Act)------ 220, 017, 956. 91
Relief Grants (1933 Act)------------ 164, 720, 183.97
Payments of subscriptions to capital
of regional agricultural credit cor
porations-----------------------5, 300,000.00
Payments of subscriptions to capital
of regional agricultural credit corpo
rations (increases)----------------
-
9, 500,000.00
Purchase of preferred stock banks and
trust companies------------------
49, 453,000. 00
Purchase of capital notes and deben
tures banks and trust companies--Payments to Secretary of Agricul
700,000.00
ture----------------------------
60,000, 000. 00
Payments toSecretary of the Treasury
(for purchase of stock of Federal
home loan banks).----------------
56, 550, 000. 00
34
REPORT of THE REConstruction FINANCE corporation
TABLE 10.-Statement of cash receipts and expenditures, Jan. 1, 1933 to Sept. 30,
1933, inclusive—Corporation's accounts with Treasurer of United States—Conta
Expenditures—Continued.
Payments toSecretary ofthe Treasury
(forpurchase of stock of Ho m e O w n
ers' Loan Corporation).-----------Payments to land bank commissionerWithdrawal by regional agricultural
credit corporations of funds held for
them---------------------------
Advances for expenses regional agricul
tural credit corporations (to Farm
Credit Administration) ----------Advances for expenses Federal E m e r
gency Relief Administration------Advances for care and preservation of
collateral------------------------
Refund of interest overpayments.-----
$2,000, 000.00
10, 600,000.00
27, 300,000.00
2,054,665. 37
90,079. 64
465, 385.75
192,445. 49
Release of cash collateral to redis
c oun ts- --- --- --- -- --- --- --- --- --
193,215.86
Interest on cash collateral to redis
c oun ts --- --- --- --- --- --- -- --- ---
Discount rebates and refund of u n
earned discount------------------
Release of funds held in suspense----Interest on suspended credits-mort
gage loans----------------------Interest on series A and series B 3%
percent notes-------------------Accrued interest on bonds purchased
(self-liquidating projects)---------Accrued interest on notes purchased
(mortgage loan company) --------Deposits with bids for purchase of
bonds (self-liquidating projects)---Additions to petty cash funds-------Furniture and fixtures--------------
Expense-general-------------------Expense-loan agency--------------Expense-custodian ----------------Expense-regional agricultural credit
corporations--------------------Reimbursable expense-------------Miscellaneous (including refunds and
adjustments for amounts credited in
error and remittances not collected)-
2,311.03
197, 823.45
759, 612. 81
26. 09
16,760, 205. 52
316,499.48
4, 882. 19
104, 200.00
1, 895.00
140, 004. 23
2, 138,741.51
1, 984, 939. 21
1,252, 348. 42
2, 235, 147.01
567, 393. 13
900, 607.09
$1,533, 582, 068. 51
Cash balance at the close of business Sept. 30, 1933.--------
8,640, 272.57
Note.—In addition tofunds on deposit with the Treasurer ofthe United States,custodian banks held in
suspense funds which amounted to $1,464,285.96 at the close of business Dec. 31, 1932 and $2,934,385.45 at
the close of business Sept. 30, 1933.
REPORT
OF
T H E
RECONSTRUCTION
FINANCE
CORPORATION
35
TABLE 11–Statement of condition of the Corporation as of the close of business
Sept. 30, 1933
Ass ETs
Cash on deposit with Treasurer of United States
Funds held in suspense by custodian banks
Petty cash funds--------------------------------------Allocated for expenses regional agricultural credit corpora
tions—Farm Credit Administration---------------------
$8,640, 272. 57
2,934, 385.
5, 445. 00
5, 260,000.
00
Advanced for Federal Emergency Relief Administration e x
Pen se s-- --- -- --- -- --- --- -- --- -- --- -- --- --- -- --- -- ---
Allocated to Secretary of the Treasury
Allocated to Secretary of the Treasury?
Allocated to land bank commissioner---------------------
90, 115. 91
124, 741, 000.
200,000, 000.
300,000, 000. 00
Allocated to Secretary of Agriculture *---- $200,000, 000. 00
Less: Reallocatedascapi
tal regional agricul
tural credit corpora
tions---------------- $44, 500,000. 00
Reallocated to G o v
ernor
of
Farm
40,500,000.00
tion--- ----------
—
85,000, 000. 00
Capital regional agricultural credit corporations-----------Allocated to Governor of F a r m Credit Administration
Loans under sec. 5:
115,000, 000. 00
44, 500,000. 0 0
40, 500,000.
Proceeds disbursed (less repayments):
Banks and trust companies "----- $682, 319,469. 29
Credit unions-----------------556, 111.78
Building and loan associations---
75,604, 100.32
Insurance companies-----------
67,794, 590. 92
28, 800,000.00
10, 448,236.97
3, 176, 443. 22
158, 198,678.43
Federal land banks------------Joint-stock land banks----------
Livestock credit corporations---Mortgage loan companies------Regional agricultural credit cor
porations-------------------Other agricultural credit corpora
tions-----------------------
Railroads (including receivers)---
71, 366, 376. 03
2, 228, 850. 87
331, 754, 206. 06
1, 432, 247,063. 89
Proceeds not yet disbursed:
Banks and trustcompanies "----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 corpora
64, 209,060. 45
304, 585.46
7, 108, 137.50
1,200,000.00
7, 770,073. 18
547, 500.00
17,409, 158. 90
5, 634, 302.86
tions-----------------------
23, 377. 50
Railroads (including receivers)---
26, 291, 792.43
130,497,988. 28
Loans and contracts for self-liquidating projects, sec. 201 (a):
Proceeds disbursed (less repayments) (by purchase of
bonds, certificates, and notes—par $47,208,500)-----
46, 658, 829. 57
Proceeds not yet disbursed (contracts, bonds, certifi
cates, and notes—par $162,914,850)----------------
162, 307, 953.
Loans for repair or reconstruction of property damaged by
earthquake, etc.:
Proceeds disbursed (less repayments)
Proceeds not yet disbursed
Seefootnotes on p. 37.
1, 881, 047. 6 1
8, 533,627. 3 9
36
REPORT OF THE RECONSTRUCTION FINANCE CORPORATION
TABLE 11.-Statement of condition of the Corporation as of the close of business
Sept. 30, 1983—Continued
AssFTs—continued
Loans under sec. 201 (c), for financing sale of agricultural sur
pluses in foreign markets:
Proceeds disbursed (less repayments)----------------Proceeds not yet disbursed.-------------------------Loans to institutions under sec. 201 (d):
Proceeds disbursed (less repayments)----------------Proceeds not yet disbursed.-------------------------Loan to Secretary of Agriculture (Agricultural Adjustment
Act):
Proceeds disbursed.---------------------------------
Proceeds not yet disbursed.-------------------------Loans secured by preferred stock banks and trust companies:
Proceeds disbursed (less repayments)----------------Proceeds not yet disbursed.-------------------------Relief authorizations (1932 act):
Proceeds disbursed (less repayments)----------------Proceeds not yet disbursed.-------------------------Relief grants (1933 act) *
Proceeds disbursed.---------------------------------
Proceeds not yet disbursed.-------------------------Preferred stock banks and trust companies:
$3,686, 806. 78
49, 137,878. 53.
2, 570, 281.59
3,065, 966. 63.
3, 300,000.00
00, 000. 00
12, 941, 630. 22
. 00.
575,
299, 014, 914 00
15, 001. 00.
164, 720, 183.97
10, 943, 701.03
-
Purchased.-----------------------------------------
Subscriptions authorized.----------------------------
Capital notes and debentures, banks and trust companies:
Purchased-----------------------------------------
Advances for care and preservation of collateral:
Proceeds disbursed (less repayments) --------------Proceeds not yet disbursed.-------------------------Collateral purchased (cost less proceeds of liquidation).----- -
Accrued interest receivable------------------------------
Reimbursable expense---------------------------------Furniture and fixtures-----------------$460, 638.98
Less allowance for depreciation-----71, 166.68
49, 453, 000.00
4, 417, 500.00
700,000 00
283, 206.95
48, 412.43
1,875, 364. 02
34, 888, 969. 49
524,052. 65
389, 472. 30
-
Total------------------------------------------- 3, 266, 549,070. 36
LIABILITIES
A N D
CAPITAL
Payable to Secretary of the Treasury
Payable to Secretary of the Treasury?
Payable to land bank commissioner----------------------
Payable to Governor of Farm Credit Administration------Callable by Farm Credit Administration for expenses of re-
$67,371,000. 00
198,000, 000. 00
289, 400,000. 00
40, 500,000. 00
-
gional agricultural credit corporations------------------Liability forfunds held as cash collateral-----------------Proceeds not yet disbursed:
3,202,118.85
3, 259, 132.94
Loans under sec. 5---------------------------------
130,497,988. 28.
Loans and contracts for self-liquidating projects, sec.
201 (a)----------------------------------------Loans for repair or reconstruction of property damaged
by earthquake, etc.------------------------------Loans under sec. 201 (c), for financing sale of agricultural
surpluses in foreign markets----------------------Loans to institutions under sec. 201 (d)--------------Loans to Secretary of Agriculture (Agricultural Adjust
ment Act)--------------------------------------Loans secured by preferred stock banks and trust c o m
panies-----------------------------------------Relief authorizations (1932 act)---------------------Relief grants (1933 act) *----------------------------Advances for care and preservation of collateral-------See footnotes on p. 37.
162, 307, 953. 10
8, 533, 627. 39
49, 137, 878. 53
3,065, 966.63
200,000. 00
575,000. 00
15, 001. 00
10, 943, 701.03
48, 412. 43
REPORT of THE RECoRSTRUCTION FINANCE CORPORATION
37
TABLE 11.—Statement of condition of the Corporation as of the close of business
Sept. 30, 1933–Continued
LIABILITIES A N D CAPITAL–continued
Subscription authorizations preferred stock banks and trust
companies------------------------------------------Cash receipts not allocated pending advices--------------Miscellaneous liabilities (including suspense).--------------Liability for funds held pending adjustment--------------Unearned discount-------------------------------------
Interest refunds and rebates payable--------------------Interest accrued.---------------------------------------
Deferred credits—Income on collateral purchased.----------
Series C 3% percent notes------------------------------Capital stock-----------------------------------------Surplus Dec. 31, 1932----------------------------------Interest earned less interest and expenses (Jan. 1, 1933
through Sept. 30, 1933).-------------------------------
$4,417, 500.00
12, 599, 250. 95
5, 572, 909. 42
1, 242.66
906, 649. 75
258, 590. 35
23, 432, 214.01
12, 810. 36
1, 720,000,000.00
500,000, 000.00
17, 804, 757. 73
14, 485, 364.95
Total------------------------------------------- 3, 266, 549,070. 36
1Sec. 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 H o m e 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 mu c h thereof as m a y be necessary for such purpose, is hereby allocated and
made availabletothe Secretary ofthe TreasuryoutofthecapitaloftheCorporationand/ortheproceeds
of notes, debentures, bonds, and other obligations issued by the Corporation.” The amount of such
stock su
ibed for by the Secretary 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 m in im u m amount of capital stock of the Corporation (Home Owners' Loan
Corporation) and isauthorized toincrease such capitalstock from time to time in such amounts as may
be necessary, but not to exceed in the aggregate $200,000,000. Such stock shall be subscribed for by the
Secretaryof theTreasury on behalfofthe UnitedStates,and payments for such subscriptionsshall be
subject to call in whole or in part by the Board and shall be made at such time or times as the
.
ofthe Treasury deems advisable. * * * In order toenable the Secretary oftheTreasury to make suc
payments
when called,the Reconstruction.Finance Corporation is authorized and directed to allocate
and make available tothe Secretary ofthe Treasury thesum of$200,000,000or so much thereofas *}. be
necessary, and forsuch purpose the amount ofnotes, bonds, debentures, or other such obligations which
the Reconstruction Finance Corporation isauthorized and empowered under sec.9 ofthe Reconstruction
Finance Corporation Act, as amended, to have outstanding at any time, is hereby increased by such
*:::::::::as*be necessary.”
The amount of such stock subscribed for by the Secretary of the Treasury
$200,000,000.
* 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 ofwhich $20,000,000 was returned
to the Corporation. Of the $85,000,000 difference, $44,500,000 was reallocated as capital of the Regional
Agricultural Credit Corporation,(sec.201 (e) Emergency Relief and Construction,Act of 1932). The
remainder, $40,500,000, is available to the Governor of the Farm Credit Administration, under the pro
visions 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 banks have been authorized in the aggregate amount of $283,498,795.74 of which
$13,562,899.67 has been canceled. After taking into consideration repayments of $66,653,684.82, items (4)
of the balance sheet include the balance of$149,365,966.71 representing proceeds disbursed (lessrepayments)
and $53,916,244.54 representing proceeds not yet disbursed.
•Under theprovisionsoftheFederal Emergency ReliefAct of1933, theCorporationisauthorized and
directed to
e available $500,000,000 for expenditure by the Federal Emergency Relief Administrator,
payment tobe made by the Corporation upon certificateof Federal Emergency ReliefAdministrator.
In addition to loans and other authorizations reflected on the statement of condition, the Corporation
hasapprovedinprincipleloansintheamountof$442,590,973andpurchasesofpreferredstockanddebentures
of specified conditions.
Thisstatementofconditiondoesnottakeintoconsiderationexpendituresincurredbut not paidby the
ofbanks and trust companies in the amount of$58,700,000upon t h e H .
Corporation at the close ofbusiness Sept. 30, 1933 nor income ofregional agricultural credit corporations
whosecapitalstock was subscribed by the Corporation.
O
@FedFRASER