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COMMITTEE ON BANKING AND CURRENCY

HOMER E. CAPEHART, Indiana, Chairman JOHN W. BRICKER, Ohio

BURNET R. MAYBANK, South Carolina IRVING M. IVES, New York

J. WILLIAM FULBRIGHT, Arkansas WALLACE F. BENNETT, Utah

A. WILLIS ROBERTSON, Virginia PRESCOTT BUSH, Connecticut

JOHN SPARKMAN, Alabama J. GLENN BEALL, Maryland

J. ALLEN FREAR, JR., Delaware FREDERICK G. PAYNE, Maine

PAUL H. DOUGLAS, Illinois BARRY GOLD WATER. Arizona

HERBERT H. LEHMAN, New York

STAFF OF BANKING AND CURRENCY COMMITTEE

IRA Dixon, Chief Clerk
A. LEE PARSONS, Assistant Clerk
RAY S. DONALDSON, Staff Director
WILLIAM F. MCKENNA, Counsel
NORMAN W. STEVENSON, Counsel
Jos. P. MCMURRAY, Economic Consultant
JOHN L. DOUGLAS, Staf Assistant

STUDY UNDER SENATE RESOLUTION 25

HENRY F. HOLTHUSEN, General Counsel

H. K. CUTHBERTSON, Jr., Assistant Counsel
RAYMONDE ALEXIS CLARKE, Assistant Counsel

DONALD L. ROGERS, Assistant Counsel

397

359

Bank, St. Louis

227

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Mass ----

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S. Res. 25.-----

Statement of -

Anderson, Arthur, Assistant Treasurer, Export-Import Bank.------- 158

Arey, Hawthorne, Assistant Director, Export-Import Bank.--- 86, 133, 170

Beretta, Francis, assistant to the general manager, Empresa Sider-

urgica Nacional de Paz de Rio, Bogota, Colombia...
Boettler, Herbert F., vice president, First National Bank, St. Louis.

Mo..-

Campos, Roberto, Banco Nacional do Desenvolvimento Economico,

Rio de Janeiro, Brazil.

376

Carlton, 0. L., vice president, Central National Bank of Cleveland,

260

Chadsey, Horace M., vice president, First National Bank of Boston,

195, 200

Christie, Lansdell K., president, Liberia Mining Co., Ltd., New

York, N. Y

Corea, 'Luis F., vice president, Riggs National Bank, Washington,

D. C...

Crockard, Merle R., assistant vice president, Second National Bank

of Houston, Tex_----

Dewey, Chester R., president, Grace National Bank, New York, N. Y.
Edgerton, Glen E., Managing Director, Export-Import Bank.------
Eisenmann, Roberto, president, Hoteles Interamericanos, repre-

senting El Panama Hotel, Republic of Panama ---

Faulk, É. W., senior vice president, Merchants National Bank,

Mobile, Ala...

Frey, Henry A., Jr., assistant vice president, Philadelphia National

_ Bank... - ----

222

Garza, Virgilio, Jr., Kojalata y Lamino, S. A., Monterrey, Mexico...-

------

Gomory, Andrew L., vice president, Manufacturers Trust Co., New

York, N. Y.---

Grenas, Eduardo, managing director, Corporacion Mexicana and

Associacion Mexicana de Importadores de Maquinaria, Mexico

City---------

Grove, Curtiss C., vice president, Bank of the Manhattan Co., New

York, N. Y...

Huggins, E. V., vice president, Westinghouse International Electric

Hwoschinsky, Basil, senior vice president, Hanover Bank of New

York, N. Y.

Jaramaillo Ferro, Roberto, general manager, Empresa Siderurgica
Nacional de Paz de Rio, Bogota, Colombia..

354

Long, Albert L., vice president, Republic National Bank of Dallas,

264

Machado, Oscar A., Jr., general manager, Compania Anonima la

Electricidad de Caracas, Venezuela ----

291

Maffry, August, vice president, Irving Trust Co., New York, N. Y., 174,

Maiwandwal, Mohammed H., counselor of Afghanistan Embassy,

Washington, D. C.------

308

McKenna, Norbert A., Reynolds & Co., New York, N. Y..

Meili, Ernest H., senior vice president, J. Henry Schroder Banking

Corp., New York, N. Y.-----

Noriega, Manuel, Compania Fundidora de Fierro y Acero de Monter-

rey, s. A., New York, N. Y.--.

Pape, H. R., general manager, Altos Hornos de Mexico, S. A. 324

Pinheiro, Jose G. de A., Compania Siderurgica Nacional, Rio de

Janeiro, Brazil.--

371

Rovira S., German, Corporacion Boliviana de Fomento and Yaci-

mientos Petroliferos Fiscales Bolivianos.------

-----

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Statement of—Continued

Roldan, P. Gutierrez, managing director, Altos Hornos de Mexico,

S. A--------

Sada, Camilo G., general manager, Hojalata y Lamina, S. A., Monter-

rey, Mexico.
Schneider, Heinz, vice president, Union Bank of Commerce, Cleveland,

Ohio.

Shepard, Frank P., vice president, Bankers Trust Co., New York,

Siemon, William J., New York, N. Y

Smith, Russell G., executive vice president, Bank of America, San

Francisco, Calif.--------------

257

Stambaugh, Lynn U., deputy director, Export-Import Bank.--- 170, 266

Starr, H. Danforth, vice president, Cerro de Pasco Corp., New

York, N. Y.----

Strelow, William R., vice president, Guaranty Trust Co., New York,

N. Y.

208

Vergara, Roberto, Compania de Acero del Pacifico S. A., Santiago,

Vihma, Elja, Finnish-American Trading Corp., New York, N. Y 344

Watson, Gordon, general counsel, Steep Rock Íron Mines Ltd., Steep

Rock Lake, Ontario, Canada.--

Statements, letters, memorandums, etc., submitted for the record by-
Appendix-----

399
Altos Hornos de Mexico, S. A., Monclovia, Corahuila, H. R. Pape,

general manager: Reply to questionnaire.-.
Arey, Hawthorne, Assistant Director, Export-Import Bank:

Biographical sketch -----

History of operations and policies of Export-Import Bank.----
Banco Nacional do Desenvolvimento Economico, Rio de Janeiro,

Brazil, Walder Lima Sarmanho: Reply to questionnaire --------- 382
Bank of America, National Trust and Savings Association, San

Francisco, Calif., Russell G. Smith, executive vice president:

Reply to questionnaire-----
Bank of the Manhattan Co., New York, N. Y., Curtiss C. Grove, vice

president: Reply to questionnaire
Bankers Trust Co., New York, N. Y., Frank P. Shepard, vice presi-
dent:
List of credits extended by Export-Import Bank in which Bankers

Trust Co. participated.---

Reply to questionnaire. ----
Central National Bank of Cleveland, Ohio, O. L. Carlton, vice presi-

dent: Reply to questionnaire -
Cerro de Pasco Corp., New York, N. Y., H. Danforth Starr, vice presi-
dent: Reply to questionnaire.---

290

Compania de Acero del Pacifico S. A., Santiago, Chile, Roberto

Vergara: Reply to questionnaire...

341

Compania Anonima la Electricidad de Carocas, Oscar A. Machado,

general manager: Reply to questionnaire---

Companhia Siderurgica Nacional, Rio de Janeiro, Brazil, S. R. de

Oliveira, president: Reply to questionnaire.--.

374

Corporacion Boliviana de Fomento, German Rovira S.: Reply to

questionnaire...

370

Dembitz, Lewis N., Assistant Director, Division of International
Finance, Federal Reserve System ---

160

Empresa Siderurgica Nacional de Paz de Rio, S. A., Bogota, Colom-

bia, Francis Beretta, assistant to the general manager:

Letter to Sherman Adams, Assistant to President..

364

Reply to questionnaire.--

Export-Import Bank:

Edgerton, Glen E., testimony -

59

Arey, Hawthorne:

Testimony ----------

- 86, 133, 170

History of operations and policies of Export-Import Bank. 86

Anderson, Arthur, testimony-----

Stambaugh, Lynn U., testimony ---

170, 266

Statement regarding participation by commercial banks in Ex-

port-Import Bank credits -----

220

YuVOVAVILO

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Statements, letters, memorandums, etc.-Continued

Finnish-American Trading Corp., New York, N. Y., Elja Vihma,

president: Reply to questionnaire.-

First National Bank, Boston, Mass., H. M. Chadsey, vice president:

Reply to questionnaire --------

-----------------------------

Supplemental letter---

First National Bank, St. Louis, Mo., H. F. Boettler, vice president:

Reply to questionnaire---

Fundidora de Fierro y Acero de Monterrey, S. A., New York, N. Y.:

Statement on the development of international trade with the

rest of the Americas.----------------------------

Reply to questionnaire -

Grace National Bank, New York, N. Y., Chester R. Dewey, presi-

dent: Reply to questionnaire -

Guaranty Trust Co., New York, N. Y., William R. Strelow, vice

president: Reply to questionnaire..

Hanover Bank of New York, N. Y., Basil Hwoschinsky, senior vice

president:

Statement.----

------

Reply to questionnaire...

Hojalata y Lamina, S. A., Monterrey, Mexico, Camilo G. Sada, gen-

eral manager: Reply to questionnaire..

Huggins, E. V., vice president, Westinghouse International Electric

Co.:

United States and its foreign-trade position...

Foreign trade position of the United States and the electrical

manufacturing industry.--.

United States electrical manufacturing industry and its relation

to the security, health, safety, and welfare of the country---

Analysis of legislation, treaties, and regulations affecting the

ability of American manufacturers to compete with foreign-

produced goods---
The foreign trade position of the United States and the elec-

trical manufacturing industry of the United States, by 0.

Glenn Saxton.--

Irving Trust Co., New York, N. Y., Hiram A. Mathews: Reply to

questionnaire.---
Legislative enactments and Executive orders concerning Export-

Import Bank:

S. Res. 25, 83d Congress, 1st session.--

Executive Order 6581, authorizing the formation of a banking

corporation to be known as the Export-Import Bank of

Washington.--------------

Public Law 173, 79th Congress.--
Public Law 158, 82d Congress.-----
Public Law 171, 79th Congress, section 4.-
Public Law 472, 80th Congress, section 111
H. Doc. 135, 83d Congress, 1st session.----
Reorganization Plan No. 5 of 1953.----

Public Law 30, 83d Congress------
Liberia Mining Co., Ltd., Monrovia, Liberia, New York, N. Y.,

Lansdell K, Christie, president: Reply to questionnaire ---
Lucini, Lucio, New York, N. Y., representing Montecatini, Milan,

Italy: Statement.---
Manufacturers Trust Co., New York, N. Y., Andrew L. Gomory, vice

president: Reply to questionnaire
Merchants National Bank, Mobile, Ala., E. W. Faulk, senior vice

president: Reply to questionnaire -
Philadelphia (Pa.), National Bank, H. A. Frey, Jr., assistant vice

president: Reply to questionnaire.---
Republic National Bank, Dallas, Tex., Albert L. Long, vice president:

Reply to questionnaire.--
Riggs National Bank, Washington, D. C., Robert V. Fleming, presi-

dent: Reply to questionnaire.--.
Schroder, J. Henry, Banking Corp., New York, N. Y., Ernest H.

Meili, senior vice president: Reply to questionnaire------

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