The Federal Farm-loan System in Operation |
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Common terms and phrases
agents agricultural amendment amortization amount Annual Report appointed approved asso authorized banker bond sale borrower capital stock cent centum charged charter ciation collateral security Commission Congress court debenture defaulted deposits dividends earnings established expenses farm lands Farm Loan Act Farm Loan Board farm-loan bonds issued farm-loan registrar farmers Federal Farm Loan Federal farm-loan bonds Federal farm-loan system Federal land banks Federal Reserve Act funds gage interest rate investment investor joint-stock land banks land-bank appraisers land-bank district land-mortgage bonds Landschaft Loan Act provides loan association loan bonds loan committee ment mortgage loans mortgages on farm national banks national farm national farm-loan associations operation organization organization certificate paid payments principal purchase purpose rate of interest receive only usual rural credit Secretary secretary-treasurer Section shareholders Stock Land Banks subscribed surety bonds thereof tion Treasury trust
Popular passages
Page 184 - 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 252 - 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 bo 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 152 - ... 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 178 - Any person who shall falsely make, forge, or counterfeit, or cause or procure to be falsely made, forged, or counterfeited, or willingly aid or assist in falsely making, forging, or counterfeiting any...
Page 258 - That the power to tax involves the power to destroy ; that the power to destroy may defeat and render useless the power to create ; that there is a plain repugnance in conferring on one government a power to control the constitutional measures of another, which other, with respect to those very measures, is declared to be supreme over that which exerts the control, are propositions not to be denied.
Page 254 - to raise and support Armies" and "to provide and maintain a Navy.
Page 255 - Treasury shall require the associations thus designated to give 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 171 - 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...
Page 246 - An Act to provide capital for agricultural development, to create standard forms of investment based upon farm mortgage, to equalize rates of interest upon farm loans, to furnish a market for United States bonds, to create Government depositaries and financial agents for the United States, and for other purposes.
Page 180 - Currency, or from the board of directors of such bank, except when ordered to do so by a court of competent jurisdiction, or by direction of the Congress of the United States, or of either House thereof, or any committee of Congress or of either House duly authorized. Any person violating any provision of this section shall be punished by a fine of not exceeding $5,000 or by imprisonment not exceeding one year, or both.