Federal Building Loans, Hearing Before ... 66-1 on S.2492 .... |
From inside the book
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Page 12
... exempt from Federal , State , municipal , and local taxation , except taxation upon real estate held , purchased , or taken by said Federal building loan bank under the provisions of this act or in accordance with the laws of the State ...
... exempt from Federal , State , municipal , and local taxation , except taxation upon real estate held , purchased , or taken by said Federal building loan bank under the provisions of this act or in accordance with the laws of the State ...
Page 13
... exempt from Federal , State , municipal , and local taxation . Nothing herein shall be construed to exempt real property of Federal building loan banks from either State , county , or municipal taxation to the same extent , according to ...
... exempt from Federal , State , municipal , and local taxation . Nothing herein shall be construed to exempt real property of Federal building loan banks from either State , county , or municipal taxation to the same extent , according to ...
Page 20
... exemption from taxation for these bonds , I doubt if the act would be of much service to the building associations of the country . We argue that if this ex- exemption from taxation was given to the farm loan system in order to enable ...
... exemption from taxation for these bonds , I doubt if the act would be of much service to the building associations of the country . We argue that if this ex- exemption from taxation was given to the farm loan system in order to enable ...
Page 27
... exempt from taxa- tion any more than any other bonds ? Senator CALDER . They certainly have as much right to be exempt as the farm loan bonds . Senator PENROSE . Yes ; but a good many people think that it was a mistake to exempt them ...
... exempt from taxa- tion any more than any other bonds ? Senator CALDER . They certainly have as much right to be exempt as the farm loan bonds . Senator PENROSE . Yes ; but a good many people think that it was a mistake to exempt them ...
Page 28
... exemption from taxes or any privileges . Mr. HAYMAKER . In regard to that provision , as to exemption from taxation , in most of the States investments in building and loan associations are exempt from taxation . They are exempt in New ...
... exemption from taxes or any privileges . Mr. HAYMAKER . In regard to that provision , as to exemption from taxation , in most of the States investments in building and loan associations are exempt from taxation . They are exempt in New ...
Common terms and phrases
Adair amount approved assets asso bill board of directors bond or coupon borrow money build homes building and loan building associations building loan bank building loan registrar building of homes capital stock cent ciations committee condition Congress depositories Detroit district dwelling house exemption from taxation falsely altered farm loan Federal building loan Federal building-loan banks Federal reserve act Federal Reserve System funds Government HAYMAKER HENNESSY increase invest issue of Federal KEESLER labor land bank LINNETT loan associations loan bonds issued long-time member association mortgage loans mortgages deposited national banks North Dakota operation organization certificate paid payment prescribe rate of interest real estate reserve account ROSENTHAL savings banks schedule Secretary semiannually Senator CALDER Senator GRONNA Senator NEWBERRY Senator PENROSE shortage of homes small loans superintendent of Federal taxes thereof tion to-day Treasury United States league York
Popular passages
Page 9 - Treasury shall require of the associations thus designated satisfactory security, by the deposit of United States bonds and otherwise, for the safe-keeping and prompt payment of the public money deposited with them, and for the faithful performance of their duties as financial agents of the government...
Page 14 - First mortgages executed to Federal land banks, or to joint stock land banks, and farm loan bonds issued under the provisions of this Act, shall be deemed and held to be instrumentalities of the Government of the United States, and as such they and the income derived therefrom shall be exempt from Federal, State, municipal, and local taxation.
Page 16 - If any clause, sentence, paragraph, or part of this Act shall for any reason be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair, or invalidate the remainder of this Act, but shall be confined in its operation to the clause, sentence, paragraph, or part thereof directly involved in the controversy in which such judgment shall have been rendered.
Page 15 - That if any person shall falsely make, forge, or counterfeit, or cause or procure to be made, forged, or counterfeited, or willingly aid or assist in falsely making, forging, or counterfeiting, any note in imitation of, or purporting to be...
Page 8 - Third. To make contracts. Fourth. To sue and be sued, complain and defend, in any court of law or equity, as fully as natural persons.
Page 16 - ... draft, bill of exchange, mortgage, judgment, or decree; or who makes any false entry in any book, report...
Page 6 - Currency shall, within fifteen days from the time of notice of his appointment, take and subscribe the oath of office; and he shall give to the United States a bond in the penalty of one hundred thousand dollars, with not less than two responsible sureties, to be approved by the Secretary of the Treasury, conditioned for the faithful discharge of the duties of his office.
Page 10 - ... shall be held individually responsible, equally and ratably, and not one for another, for all contracts, debts, and engagements of such association to the extent of the amount of their stock therein at the par value thereof, in addition to the amount invested in such shares...
Page 6 - Treasury, shall devise a seal, with suitable inscriptions, for his office, a description of which, with a certificate of approval by the Secretary of the Treasury, shall be filed in the office of the Secretary of State...
Page 15 - ... or both ; and may be fined a further sum equal to the money so loaned or gratuity given.