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Bulletin Volume 19

Bulletin Volume 19


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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1921 Excerpt: ...their renewals? Mr. Martin: Well, it depends entirely on their statement. If it indicates that in reality they have borrowed for capital account we will not renew it. If it shows it is for a legitimate purpose, why it will be considered. We don't like renewals from, anybody, but there are times when it is necessary to meet the situation. Mr. B. P. Naylor: Take a man buying grain from the farmer, you take his statement and hold so much grain as security for what he wants to borrow? That is all his holdings. Mr. Martin: We take his current assets and current liabilities in a case like that. We want him to show a very good proportion of quick assets to current liabilities, and taking his net worth into consideration, we want to see he isn't borrowing too much. Mr. Naylor: I see; but his net worth consists in what he owns in farm, products stored in the elevator. In other words, if he deposits the grain he has bought in an elevator, terminal storage, he gets a warehouse certificate; he can cash that with a member bank of the Federal Reserve Bank, a Federal Reserve Bank, a bank that is a member bank and he gets more money to buy wheat with. Is that speculation or gambling? Mr. Martin: He can only borrow for ninety days. Mr. Naylor: But he does that every ninety days. Mr. Martin: Well, when you get into a thing like that, if it shows evidence on its face that it is speculation he won't get any rediscount by a Federal Reserve Bank. Mr. Wooden: Just one question. Your statement of approximately thirty per cent of the entire rediscounts of the Federal Reserve Bank is for agricultural purposes. I would like to ask if you have the figures in mind what proportion of that thirty per cent was loaned direct to the farmer? Mr. Martin: Directly for agriculture? Mr. Wooden: ...


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Product Details
  • ISBN-13: 9781130564747
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 138
  • Spine Width: 8 mm
  • Width: 189 mm
  • ISBN-10: 1130564746
  • Publisher Date: 01 Mar 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 259 gr


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