H. J. Res. 196, H. J. Res. 197, and H. R. 5745,
5120, 5792, 6102, 6909, 7726, and S. 2128

and 2252

STANFORD
LIBRARIES
Currency 10.50

Printed for the use of the Committee on Banking and Currency

CONTENTS

TEMPORARY EXTENSION OF RENT CONTROL

House Joint Resolution 196. Joint resolution to continue for a temporary

period the provisions of the Housing and Rent Act of 1947, as amended__

Statement of-

Woods, Tighe E., Housing Expediter___

Page

3

EXTENSION OF EXPORT CONTROL ACT OF 1949

House Joint Resolution 197. Joint resolution to provide for continuation

of authority for regulation of exports----

15

Statement of-

Sawyer, Hon. Charles, Secretary of Commerce__

15

AUTHORIZING FEDERAL NATIONAL MORTGAGE ASSOCIATION TO MAKE

COMMITMENTS TO PURCHASE FHA, SECTION 213, MORTGAGES

H. R. 5745. A bill to permit the Federal National Mortgage Association

to make commitments to purchase certain mortgages_-

Statement of-

Foard, Ashley, Assistant General Counsel, Housing and Home Finance

Agency.

Gathings, Hon. E. C., a Representative in Congress from the State of

Arkansas_

25

Lockwood, Warren J., Assistant Federal Housing Administration

Commissioner

27

DEFENSE PRODUCTION ACT OF 1950-REPEAL OF SECTION 104

H. R. 5792. A bill to repeal section 104 of the Defense Production Act of

1950, as amended.

Statement of—

Andresen, Hon. August H., a Representative in Congress from the

State of Minnesota__

Hunter, Hon. Allan Oakley, a Representative in Congress from the
State of California_.

335

Rhodes, F. Marion, Director, Office of Requirements and Allocations,

Department of Agriculture_.

Richards, Preston, Director of Dairy Branch, Department of Agri-

culture

Thorp, Hon. Willard, Assistant Secretary of State for Economic Af-

fairs--

Notes submitted to Department of State by embassies of foreign countries:

Australia__

Canada.

Denmark.

France

Italy.

Netherlands.

New Zealand.

Switzerland_.

37

41

41

39

43

III

HOME OWNER'S LOAN ACT OF 1933-AMENDMENT

H. R. 6102. A bill to amend section 5 of the Home Owners' Loan Act of
1933, as amended__.

Statement of-

Bliss, George L., chairman, legislative committee, United States Sav-
ings and Loan League..

64

Divers, William K., Chairman, Home Loan Bank Board__

Kreutz, Oscar R., executive manager, National Savings and Loan

League

55

60

FEDERAL DEPOSIT INSURANCE ACT-AMENDMENT

H. R. 5120. A bill to amend the Federal Deposit Insurance Act so as to

require the insurance of deposits payable at branches of insured banks

in Puerto Rico.----

Statement of-

77

Cook, H. Earl, Director, Federal Deposit Insurance Corporation___
Crawford, Hon. Fred L., a Representative in Congress from the State
of Michigan__.

82

79

Fernós-Isern, Hon. A., a Delegate in Congress from the Territory of
Puerto Rico___

FEDERAL RESERVE ACT AMEND SECTION 14 (B)

H. R. 6909. A bill to amend section 14 (b) of the Federal Reserve Act,
as amended_.

Statement of-

77,85

89

Bartel, Edward, Fiscal Assistant Secretary of the Treasury Depart-

ment_

Young, Ralph, Director of Research and Statistics of the Federal

Reserve Board__

Solomon, Fred, Assistant General Counsel, Federal Reserve Board.

MERGERS OF NATIONAL BANKS AND CLARIFICATION OF NATIONAL BANK

CONVERSION ACT

S. 2128. An act to provide for the merger of two or more national banking

associations and for the merger of State banks with national banking

associations, and for other purposes.

S. 2252. An act to clarify the act of August 17, 1950, providing for the con-

version of national banks into and their merger and consolidation with

State banks_

Statement of-

Jennings, L. A., First Deputy Comptroller of the Currency__

NATIONAL FLOOD INSURANCE

H. R. 7726. A bill to provide for national flood insurance, and for other

purposes

111

Statement of--

Horwitz, Solis, General Counsel, Reconstruction Finance Corpora-

tion_

114

McDonald, Harry A., Administrator, Reconstruction Finance Corpora-

tion__

114