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BRENT SPENCE, Kentucky, Chairman
PAUL BROWN, Georgia

CLARENCE E. KILBURN, New York
WRIGHT PATMAN, Texas

GORDON L. McDONOUGH, California
ALBERT RAINS, Alabama

WILLIAM B. WIDNALL, New Jersey
ABRAHAM J. MULTER, New York

EDGAR W. HIESTAND, California
HUGH J, ADDONIZIO, New Jersey

PERKINS BASS, New Hampshire
WILLIAM A. BARRETT, Pennsylvania EUGENE SILER, Kentucky
LEONOR K. SULLIVAN, Missouri

PAUL A. FINO, New York
HENRY S. REUSS, Wisconsin

FLORENCE P. DWYER, New Jersey
MARTHA W. GRIFFITHS, Michigan

EDWARD J. DERWINSKI, Illinois
THOMAS L. ASHLEY, Ohio

SEYMOUR HALPERN, New York
CHARLES A. VANIK, Ohio

WILLIAM H. MILLIKEN, JR., Pennsylvania
JAMES C. HEALEY, New York
J. T. RUTHERFORD, Texas
JOSEPH W. BARR, Indiana
JAMES A. BURKE, Massachusetts
WILLIAM S. MOORHEAD, Pennsylvania
CLEM MILLER, California
BYRON L. JOHNSON, Colorado

ROBERT L, CARDON, Clerk and General Counsel
JOHN E. BARRIERE, Majority Staff Member
ORMAN S. FINK, Minority Staff Member

ROBERT R. POSTON, Counsel

SUBCOMMITTEE No. 2

PAUL BROWN, Georgia, Chairman
ABRAHAM J. MULTER, New York

EDGAR W. 'HIESTAND, California
WILLIAM A. BARRETT, Pennsylvania PAUL A. FINO, New York
CHARLES A. VANIK, Ohio

EDWARD J. DERWINSKI, Illinois
JOSEPH W. BARR, Indiana
WILLIAM S. MOORHEAD, Pennsylvania

II

CONTENTS

Page

49

69

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57

59

H.R. 6092. A bill to amend the lending and borrowing limitations ap-

plicable to national banks, and to authorize the appointment of two

additional Deputy Comptrollers of the Currency.

Section-by-section summary of H.R. 6092.

H.R. 6093. A bill to amend the national banking laws to clarify or elim-

inate ambiguities, to repeal certain laws which have become obsolete,

and for other purposes.

Section-by-section summary of H.R. 6093.

Statement of -

Chamber of Commerce of the United States.

Coffin, Hon. Frank M., a Representative in Congress from the State of

Maine.

Gidney, Ray M., Comptroller of the Currency, accompanied by L. A.

Jennings, Deputy Comptroller, and Roy T. Englert, General

Counsel..

Harrington, Harry F., president, Boatmen's National Bank, repre-

senting the American Bankers Association.-
Holloway, Robert A., chairman, Realtors' Washington Committee of

the National Association of Real Estate Boards
Kimbrel, M. Monroe, chairman, Committee on Federal Legislation,

American Bankers Association; accompanied by J. O. Brott, general

counsel; and Charles McNeill, assistant general counsel. -

McIntire, Hon. Clifford G., a Representative in Congress from the

State of Maine.

Mitnick, Carl T., president, National Association of Home Builders--

Oliver, Hon. James C., a Representative in Congress from the State of

Maine-

The Board of Governors of the Federal Reserve System.
Wolcott, Hon. Jesse P., Chairman, Federal Deposit Insurance Cor-

poration; accompanied by Erle Cocke, Director; Neil G. Greensides,

assistant to the Chairman; and Royal Coburn, General Counsel....

Additional data submitted to the subcommittee by-

Clauson, Hon. Clinton A., Governor, State of Maine, letter of April 21,

1959, to Hon. Paul Brown..

Clough, Fred A., Jr., commissioner, Department of Economic De-

velopment, State of Maine, letter of April 16, 1959, to Hon. Paul

Brown..

Coffin, Hon. Frank M., letter of April 27, 1959, to Hon. Paul Brown..

Comptroller of the Currency:

Data concerning bonds of the Comptroller and the Deputy Comp-

trollers of the Currency.

Federal statutory limitation of liability of any person, partner-

ship, or company to a national bank

State statutory limit of liability of any person, partnership

or company to a State bank

Federal statutory lending limitations on loans made by national

banks secured by a first lien on real property--

State statutory lending limitations on loans made by State

banks secured by a first lien on real property.

Letter of June 5, 1959, to Hon. Paul Brown, in regard to statement

of Board of Governors of the Federal Reserve System --

Legality of declaration and payment of dividends-

Recommendations for technical changes in H.R. 6092.

Lane, Carleton G., chairman, Maine Industrial Building Authority,

letter of April 22, 1959, to Hon. Paul Brown -

Morrow, Robert F., New Orleans, La., letter of May 13, 1959, to

Hon. Hale Boggs.

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