tion or an extension of time to pay his debts. The petition or answer of the farmer shall be accompanied by his schedules. The petition and answer shall be filed with the court, but shall, on request of the farmer or creditor, be received by the conciliation commissioner for the county in which the farmer resides and promptly transmitted by him to the clerk of the court for filing. If any such petition is filed, an order of adjudication shall not be entered except as provided hereinafter in this section."

SEC. 2. That Section 75 of said Act be further amended by amending Paragraph 5 of Subsection (s) to read as follows:

This Act shall be held to apply to all existing cases now pending in any Federal Court, under this Section, as well as to future cases. All cases under this Section that have been dismissed by any conciliation commissioner, referee, or Federal Court because such Court erroneously assumed or held that Subsection (s) of Section 75 of this Act was unconstitutional, shall be promptly reinstated, without any additional filing fees or charges. Any farm debtor who has filed under the General Bankruptcy Act may take advantage of this section upon written request to the court; and a previous discharge of the debtor under any other section of this Act shall not be grounds for denying him the benefits of this section".

Approved, March 4, 1938

[CHAPTER 462-3D SESSION]

(H. R. 10530]

AN ACT

To extend for two additional years the 3-per-centum interest rate on certain Federal land-bank loans, and to provide for a 4-per-centum interest rate on Land Bank Commissioner's loans until July 1, 1940.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That (a) effective July 1, 1935, the first sentence of paragraph "Twelfth" of section 12 of the Federal Farm Loan Act, as amended (relating to reduction in interest rates on certain Federal land-bank loans), is amended by striking out the following: "occurring within a period of three years, commencing July 1, 1935, and shall not exceed 4 per centum per annum for all interest payable on installment dates occurring within a period of one year commencing July 1, 1938" and inserting in lieu thereof the following: "occurring within a period of five years, commencing July 1, 1935".

(b) The fourth sentence of such paragraph "Twelfth" (relating to the time limit on payments made by the United States to land banks on account of such interest reduction) is amended to read as follows: "No payments shall be made to a bank with respect to any period after June 30, 1940."

SEC. 2. The last paragraph of section 32 of the Emergency Farm Mortgage Act, as amended (relating to reduction in the interest rate on loans by the Land Bank Commissioner), is amended to read as follows:

"Notwithstanding the foregoing provisions of this section, the rate of interest on loans made under this section shall not exceed 4 per centum per annum for all interest payable on installment dates occurring on or after July 22, 1937, and prior to July 1, 1940."

WM. B. BANKHEAD

Speaker of the House of Representatives.

JNO. N. GARNER

Vice President of the United States and

President of the Senate.

IN THE HOUSE OF REPRESENTATIVES, U. S.,

June 14 (calendar day, June 15), 1938. The House of Representatives having proceeded to reconsider the bill (H. R. 10530) entitled "An Act to extend for two additional years the 32-per-centum interest rate on certain Federal land-bank loans, and to provide for a 4-per-centum interest rate on Land Bank Commissioner's loans until July 1, 1940", returned by the President of the United States with his objections, to the House of Representatives, in which it originated, it was

Resolved, That the said bill pass, two-thirds of the House of Representatives agreeing to pass the same.

Attest:

SOUTH TRIMBLE

Clerk.

I certify that this Act originated in the House of Representatives SOUTH TRIMBLE

Clerk.

June 7 (calendar day, June 16), 1938.

IN THE SENATE OF THE UNITED STATES

The Senate having proceeded, in pursuance of the Constitution, to reconsider the bill (H. R. 10530) entitled "An Act to extend for two additional years the 32-per-centum interest rate on certain Federal land-bank loans, and to provide for a 4-per-centum interest rate on Land Bank Commissioner's loans until July 1, 1940," returned by the President of the United States to the House of Representatíves, in which it originated, with his objections, and sent by the House of Representatives to the Senate with the message of the President returning same, it is

Resolved, That the bill do pass, two-thirds of the Senators present having voted in the affirmative.

Attest:

EDWIN A. HALSEY

Secretary.

[CHAPTER 239-1ST SESSION]

[H. R. 2179]

AN ACT

To ratify and confirm certain interest rates on loans made from the revolving fund authorized by section 6 of the Agricultural Marketing Act, approved June 15, 1929 (46 Štat. 11), and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That interest rates in excess of the rates set forth in notes or other obligations taken by the Federal Farm Board or the Farm Credit Administration for loans made from the revolving fund authorized by section 6 of the Agricultural Marketing Act, approved June 15, 1929 (46 Stat. 11), shall not be charged or collected on any of said loans, whether such loans have been heretofore or are hereafter paid in whole or in part, except that in those cases where a borrower by specific contract has agreed to pay a higher rate of interest, the contract rate shall be charged for the period agreed upon; and the amount of any interest collected in excess of the rates thus set forth or contracted for shall be refunded out of said fund or credited on the borrower's indebtedness.

Approved, June 22, 1939.

[PUBLIC NO. 410-76TH CONGRESS]

[CHAPTER 19-3D SESSION]

[H. R. 7342]

AN ACT

To amend the Emergency Farm Mortgage Act of 1933, as amended.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the tenth sentence of section 32 of the Emergency Farm Mortgage Act of 1933, as amended (U. S. C., title 12, sec. 1016), is further amended by striking out "February 1, 1940" in the two places in which it appears and inserting in lieu thereof "June 1, 1942".

Approved, February 1, 1940.

[PUBLIC NO. 672-76TH CONGRESS]

[CHAPTER 441-3D SESSION]

(H. R. 8450]

AN ACT

To extend for two additional years the reduced rates of interest on Federal land bank and Land Bank Commissioner loans.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That (a) the first sentence of paragraph "Twelfth" of section 12 of the Federal Farm Loan Act, as amended (relating to the 32 per centum interest rate on Federal land bank loans), is amended by striking out "occurring within a period of five years, commencing July 1, 1935" and inserting in lieu thereof "occurring within a period of 7 years commencing July 1, 1935". The provisions of such paragraph "Twelfth" of section 12 of such Act shall be applicable to interest on so-called "purchase money mortgages" in the case of interest payable on installment dates occurring after the date of the enactment of this Act.

(b) The fourth sentence of such paragraph "Twelfth" (relating to the 1940 time limit on payments made by the United States to land banks on account of such interest reduction) is amended to read as follows: "No payments shall be made to a bank with respect to any period after June 30, 1942."

SEC. 2. The last paragraph of section 32 of the Emergency Farm Mortgage Act, as amended (relating to reduction in the interest rate on loans by the Land Bank Commissioner), is amended to read as follows:

"Notwithstanding the foregoing provisions of this section, the rate of interest on loans made under this section shall not exceed 4 per centum per annum for all interest payable on installment dates occurring on or after July 22, 1937, and prior to July 1, 1940, and shall not exceed 32 per centum per annum for all interest payable on installment dates occurring on or after July 1, 1940, and prior to July 1, 1942."

Approved, June 29, 1940.

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