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Civilian Conservation Corps CCC-Civilian Conservation Corps James J. McEntee, Director; Address, Washington, D, C. The Civilian Conservation Corps was created by The Director of the CCC is authorized to have Act of Congress, approved June 28, 1937, succeeding enrolled not to exceed 300,000 men at any one the agency known as Emergency Conservation time, of which not more than 30,000 may be war

or Work, which was established by Executive Order

veterans, provided that in addition camps

facilities may be established for not to exceed dated April 5, 1933, under the Act of March 31,

10,000 additional Indian enrollees and 5,000 ad1933. The 1937 Act, Public No. 163, which estab

ditional territorial and insular possession enrollees. lished the CCC, also extended its period of opera- Enrollments are for a period of six months and tion until July 1, 1940. This Act was amended total service is limited to two years. August 7, 1939, providing for the continuation of Among the projects completed by the Corps the Corps through June 30, 1943.

from its inception through June 30, 1941, are the The CCC operated as an independent government planting of 2,246, 100,600 trees, the construction agency from April, 1933, through June 30, 1939. of 122.169 miles of truck trails and minor roads, On July 1, 1939, it became a part of the Federal the erection of 85,548 miles of telephone lines, the Security Agency created by the President under the construction of 45,382 bridges, the reduction of Reorganization Act of 1939.

fire hazards over 2,116,620 acres, the building of The purpose of the CCC is to provide employ- 5,875,578 check dams, the construction of 26,368,295 ment and vocational training for youthful citizens rods of fence, the improvement of 3,998,328 acres of the United States, unemployed and in need of of forest stands, the construction of 7,073 imemployment, and to a limited extent for war pounding and large diversion dams, the developveterans and Indians and Territorials, through the ment of 23,725 springs, wells, water holes and performance of useful public work in connection small reservoirs, and the expenditure of 6,304,211 with conservation and development of the natural man-days fighting forest fires and 6,182,269 manresources of the country and its possessions. days on fire-prevention and pre-suppression Junior enrollees must be unmarried, between the activities. ages of 17 and 23, unemployed and in need of The first session of the 77th Congress approemployment. There are no age or marital re- priated $246,960,000 for the CCC for the fiscal strictions for war veterans.

year ending June 30, 1942.

The United States Public Health Service

Source: An official of the Service Under the existing authority of law, the general | 307,644 passengers and 773,333 seamen, and fumifunctions of the Public Health Service may be gated 890 vessels. Examination of rats recovered briefly summarized as follows: (1) The protection following fumigation showed none of them to be of the United States from the introduction of di

plague infected. sease from foreign countries; (2) the medical ex

Inspections were made at U. S. airports of entry

of 2,844 airplanes, carrying 96,610 passengers, of amination and inspection of all arriving aliens;

whom 11.032 were aliens. Despite the danger of (3) prevention of the interstate spread of disease yellow fever entry by planes from Latin America, and the suppression of epidemics; (4) cooperation no case was discovered. with State and local health departments in im- A total of 46,772 applicants for immigration visas proving State and local health services and in all was examined by medical officers at American public health matters; (5) investigation of the consulates in foreign countries; of these 246 were cause and methods of preventing disease; (6) super- reported by medical officers to the American convision and control of the manufacture and sale of suls as being afflicted with defects or diseases biologic products used in the prevention and treat- which rendered their exclusion mandatory. Only ment of disease; (7) the maintenance of marine 159 of the aliens were certified upon arrival in hospitals and relief stations for the care and treat- U. S. territory as having a condition requiring ment of certain legal beneficiaries and the admin- deportation. istration of Freedman's Hospital and St. Eliza- At 26 Marine Hospitals, 120 relief stations and beth Hospital, in the District of Columbia; (8) the 144 contract hospitals the Service provided hospital maintenance of two hospitals for the confinement care and medical treatment to 537,594 beneficiaries, and treatment of drug addicts: (9) provision and principally American merchant seamen, during supervision of medical and psychiatric services in fiscal 1941, Federal penal and correctional institutions; (10) The Public Health Service sent professional perthe collection, compilation, and publication of in- sonnel into extra-cantonment areas to survey water formation regarding the prevalence of disease in and sanitary facilities, and means to control comthe United States and foreign countries; (11) dis- municable disease. Where necessary, construction semination of public health information.

of hospitals, health centers, garbage and refuse The research of the Public Health Service disposal systems, sanitary and water supply systems is conducted at the new National Institute of were authorized under the Community Facilities Health and the National Cancer Institute in Be- Act. Professional personnel were loaned by the thesda, Md., near Washington, D. C., and at field Service to State health departments where stations.

emergency health needs had required the transfer Under recent acts of Congress (the Social Secur- of personnel to defense duty. ity Act of 1935 and the Venereal Disease Control Army and Navy arsenals and Government deAct of 1938), the Public Health Service has ex- fense industries were surveyed by industrial hypanded its cooperative work with the States, and giene physicians and sanitary engineers and through grants-in-aid under the authorization of recommendations for health and safety of workers these acts great progress has been made in expand- made. State industrial hygiene units were assisted ing State and local health services and in improve with funds, personnel, and equipment. Research ing the educational qualifications of public health into methods of control of industrial hazards, personnel. Many State and local health depart- occupational and nonoccupational disease was ments have provided special divisions for dealing greatly intensified. with industrial diseases and the venereal diseases. The Service made possible an addition of 2,000 and in 1941 over hall of the 3,000 counties or other student nurses to the enrollment of 88 schools of rural districts in the United States had full-time nursing in this country, Puerto Rico and Hawaii health services, whereas only 533 such districts had Through Federal assistance, 3,000 graduate nurses this health protection in 1933.

were given refresher-courses in 67 schools, and 500 During the year, quarantine officers of the Public graduate nurses provided post-graduate training in Health Service inspected 13,402 vessels, carrying 26 schools.

All Urged to Carry Their Blood Type Information A recommendation that all persons in the United | thirteenth convention of the Aero-Medical AssoStates carry with them information regarding clation of the United States. their blood type, as do airplane pilots, was made

This requirement would be an excellent one for (Oct. 30, 1941) by two Mayo foundation specialists the entire air transport industry to adopt for it

is obvious that in cases of accidents occurring in aviation medicine.

where facilities for blood grouping are not readily *It is required that each pilot carry information

available, it might be a life-saving measure. as to his blood type on his pilot's license,” said "In fact, in this day of frequent automobile Dr. J. H. Tillisch and Dr. W. Randolph Lovelace accidents, it is a measure that could be adopted of Rochester, Minn., in a paper prepared for the by the general population with value."


United States Housing Authority USHA-United States Housing Authority-Nathan Straus, administrator Address, Washington, D. C. The

United States Housing Authority was agency must obtain a local contribution (Amountcreated a body corporate of perpetual duration in ing to at least 20 percent of project cost in the the Department of the Interior and placed under form of cash, land, services or tax exemptions or the general sapervision of the Secretary of the remissions). There must likewise be the equivalent Interior by the Seventy-fifth Congress. The

elimination of unsafe and insanitary dwellings in

substantially the same number as the new dwellings Authority has since been transferred to the Federal

provided by the project. No assistance in the form Works Agency. The Act establishing the Authority

of capital grants has as yet been requested, howis known as the United States Housing Act of

ever, by any local housing agency. 1937. The powers of the Authority are vested in

The cost of construction (excluding land, cost the Administrator, who is appointed by the Presi

of demolition and non-dwelling facilities) of any dent, by and with the advice and consent of the

housing project is limited to $1,000 a room and Senate.

$4,000 a family dwelling unit in cities of under An Executive Order (Oct. 27, 1937) transferred

500,000. In cities of over 500,000 the limits are to the Authority the 48 housing and slum-clearance

$1,250 a room and $5,000 a family dwelling unit projects of the Federal Emergency Administration

where such higher cost is justified by reason of of Public Works and all assets, contracts and

higher costs of labor and materials and other conrecords in connection with housing or slum clear

struction expenses. The average cost per family ance activities. The Act requires that these

unit (including the dwelling facility iterns treated projects be sold or leased to local public housing

as part of family unit cost under statutory limitaagencies as soon as practicable. Thirty-nine of

tion) for projects for which contracts for assistance the 48 have been so transferred.

have been entered into as of June 30, 1941. is The purpose of the USHA is to assist com

$3.372. The average net construction cost per munities to remedy unsafe and unsanitary housing

family unit is $2,833. conditions and the acute shortage of decent, safe,

The Act is designed to assist the construction of and sanitary dwellings for families of low income,

dwelling accommodations only for those who lack and to alleviate present and recurring unemploy

the amount of income necessary to enable them

to live in decent, safe, and sanitary privately The USHA may make loans to public housing

owned housing without overcrowding. The Act agencies to assist in the development of low-rent

prohibits the acceptance of a family as a tenant housing or slum-clearance projects. Such loans

whose aggregate income exceeds five times the bear interest at rates not less than the going rental (including utility charges) of the quarters Federal rate at the time the loans are made, plus

to be furnished, or, in the case of families with one-half of 1 percent, and are to be secured in

three or more dependents, six times the rental. such manner and repaid within such period-not

The average monthly shelter rental approved by exceeding 60 years as may be deemed advisable

the USHA for homes in the South is $10.48, and by the Authority.

in the North, $14.73. The nation-wide average is Where annual contributions are made, the loans

$12.79 The estimated average income of families outstanding on any one project and in which the

in Southern projects is $700 per annum; in NorthAuthority participates may not exceed 90 percent

ern projects, $929. The nation-wide average is of the project cost. If capital grants are made, $824. the loan may not exceed the cost of the project less

The USHA has a capital stock of $1,000,000 subthe capital grants, but in no event 90 percent of scribed by the United States. The Authority is such cost.

authorized to issue obligations in the form of notes, In the case of annual contributions, the local bonds, or otherwise, which it may sell to obtain housing agency must obtain at least 10 percent of funds for the purposes of the Act (except that the project cost from other sources. This may be such funds may not be used for annual contribuin the form of cash, land or other aid toward the

tions or capital grants). The Authority may issue construction of the project, or obtained from a such obligations in an amount not to exceed sale of bonds of the local housing agency to others $800.000.000 than the Federal Government. Local agencies have Not more than 10 percent of the funds provided succeeded in obtaining up to 25 percent of project for in the Act, whether in the form of loans, cost from private sources.

grants, or annual contributions, may be expended The USHA is authorized to make annual con- within any one State. tributions (aggregating not more than $28,000,000 As of the fiscal year ending June 30, 1941, the per year) to public housing agencies to assist them USHA reported loan contracts of $721.275,800 (not in achieving and maintaining the low-rent char- including approximately $48,000,000 in earmark acter of their housing projects. Such contributions ings) with 250 local housing agencies in 34 States, may not exceed the going Federal rate of interest the District of Columbia, Hawaii and Puerto Rico at the time they are contracted for plus I percent, for construction of 230 public housing projects upon project cost and must be strictly limited to containing 170,116 new homes. As of that date the amounts and periods necessary to assure low- also. 68,791 homes on 230 prjects were actually rent character. In no event may the contributions ccupied by low-income families and 66.057 unbe made for a period exceeding 60 years, and they sanitary slum dwellings were eliminated as part must be reviewed at the end of 10 years and every of the equivalent elimination program. 5 years thereafter, To be eligible for annual con- On June 28, 1940, the USHA was empowered to tributions, the local housing agency must obtain use funds available to it under the Act to colocal contributions, in the form of cash, tax re- operate with and assist the War and Navy Departmission or tax exemption, amounting to at least ments and local housing agencies in providing 20 percent of the USHA annual contributions. In housing necessary to the national defense program addition, the Act requires the elimination of unsafe (and which would not otherwise be provided for or insapitary dwellings in the locality substantially persons (and their families) engaged in national equal in number to the number of new dwellings defense activities. This includes both military and provided by the project.

naval personnel and workers engaged in industries As an alternative to annual contributions, the connected with and essential to the national USIA is authorized to make capital grants of 25 defense program. percent of project cost (not including supple- Pursuant to this authorization, the USHA has. mental grants from unemployment relief funds for as of the fiscal year ending June 30, 1941, entered payment of labor) aggregating not more than into contracts of $24,371,000 with 18 local housing $30.000.000. As in the case of annual contributions, agencies in 11 states for the provision of 6.450 to be eligible for a capital grant, the local housing dwelling units in defense housing projects.

Electric Home and Farm Authority EHFA-Electric Home and Farm Authority, A. T. Hobson, President; Address Washington, D. C. The Electric Home and Farm Authority is a It is the purpose of the Authority to aid in the

distribution, sale, and installation of electric and credit agency incorporated under the laws of the

gas apparatus, equipment, and appliances as to District of Columbia, August 1, 1935, to succeed

make practicable the use of high quality, low-cost Electric Home and Farm Authority, Inc., a Dela

time- and labor-saving equipment in homes and ware Corporation. Its continuance as an agency

on farms. This purpose is accomplished through of the United States until Jan. 22, 1947, or such the credit facilities it makes available to finance earlier date as may be fixed by the President by

the consumer purchases through cooperation with Executive Order, Was authorized by Congress publicly and privately owned utilities, manufacturJune 10, 1941.

ers, dealers, and contractors.

Farm Credit Administration FCA-Farm Credit Administration--A. G. Black, governor; Clyde W. Warburton, W. H. Droste, deputy governors. Address, Washington, D. C. District offices are maintained in Springfield, Mass.; Baltimore, Md.; Columbia, s. C.; Louisville, Ky.; New Orleans, La.; St. Louis, Mo.; St. Paul, Minn.; Omaba, Neb.; Wichita, Kans.; Houston, Tex.; Berkeley, Cal., and Spokane, Wash.

The general purpose of the Farm Credit Admin- | missioner loans may be granted for certain purposes istration system is to provide a complete and co- for which land bank loans are not available, since ordinated credit system for agriculture by making Commissioner loans may be used to refinance any available to farmers long-term and short-term indebtedness of the farmer without regard to the credit. It also provides credit facilities for farm- purpose or time of its incurrence. ers' cooperative purchasing, marketing, and busi- Federal Intermediate Credit Banks-George M. ness service organizations.

Brennan, Intermediate Credit Commissioner; The system includes in its make-up the 12 Fed- Washington, D. C. eral land banks, making long-term first-mortgage These banks make loans to and discount paper loans to farmers: the 12 Federal intermediate for production credit associations, the banks for credit banks, that discount short-term agricultural cooperatives, state and national banks, agricultural and livestock paper, make loans on the security of credit corporations, livestock loan companies, and such paper, and make direct loans to cooperative similar financing institutions. They also make marketing and purchasing associations; the 12 loans to cooperative associations of agricultural production credit corporations, which supervise producers. They are not authorized to make loans and furnish a part of the capital for local produc- directly to individual farmers and stockmen, but tion credit associations providing short-term credit operate as banks of discount for institutions makfor production and general agricultural purposes: ing such loans for agricultural purposes. To be central bank for cooperatives and 12 district banks eligible for discount or as collateral for a loan to for cooperatives, which provide credit for farmers' a financing institution, the proceeds of notes cooperative purchasing, marketingand business offered to the intermediate credit banks must have service organizations, and the Federal Farm Mort- been advanced or used in the first instance for an gage Corporation, which aids in financing the agricultural purpose, such as the production of lending operations of the Federal land banks and

crops and the raising, breeding, fattening, or the Land Bank Commissioner. Joint stock land marketing of livestock. banks were a part of the original Land Bank Sys- Production Credit Corporations and Associations tem, but the Emergency Farm Mortgage Act of -C. R. Arnold, Production Credit Commissioner, 1933 withdrew their authority to make additional Washington, D. c. mortgage loans.

These associations, organized and chartered The 12 regional agricultural credit corporations under the Farm Credit Act of 1933, through com(established by the Reconstruction Finance Cor: bined action with the Federal intermediate credit poration, and which are being liquidated), as well bank in each Farm Credit district, form 8 as the feed and seed loan activities of the Depart-permanent system to provide short-term credit ment of Agriculture and the Agricultural market- for general agricultural purposes, including loans ing act revolving fund were also placed under the for the production of crops, for the breeding, raissupervision of the Farm Credit Administration ing, and fattening of livestock, and for the alterawhen consolidation of the system was effected on tion, repair and improvement of farm equipment May 27, 1933

and buildings. In each district, production credit Authority for the organization and activities of corporations have assisted in the organization of the Farm Credit Administration and the institu- associations, providing most of their capital tions operating under its supervision are found in through subscriptions to their class A stock. the following: Federal Farm Loan Act of 1916 and Banks for Cooperatives--S. D. Sanders, Cooperaamendments thereto, Agricultural Marketing Act tive Bank Commissioner; Washington, D. C. of 1929, and amendments thereto, Emergency Relief Banks for Cooperatives make loans to farmers' and Construction Act of 1932, Emergency Farm cooperative associations. Commodity loans are made Mortgage Act of 1933. Farm Credit Act of 1933, lo finance the handling of readily marketable comFederal Farm Mortgage Corporation Act of 1934, modities or farm supplies and must be secured by Farm Credit Act of 1935, Federal Credit Union Act such commodities or supplies. Operating capital of 1934, Farm Credit Act of 1937, and other acts loans are used to supplement the cooperative assoof Congress, either amending the foregoing or of ciation's own capital funds during times of peak temporary character. Under Reorganization Plan seasonal activity. Physical facility loans are made No. 1, effective July 1, 1939, the Farm Credit for the construction, acquisition or refinancing of Administration was transferred to the U. S. De- physical facilities; used by cooperatives in preparpartment of Agriculture.

ing, handling, storing, processing, or merchandisFederal credit unions, which are cooperative ing agricultural commodities or farm supplies or thrift and lending organizations, are chartered by to cooperatives furnishing farm business services. the Governor of the Farm Credit Administration, Federal Farm Mortgage Corporation-A. G. under whose supervision they operate. Member- Black, Governor FCA, is president of the Federal ships are limited to groups having common bonds Farm Mortgage Corporation, Washington, D. C. of occupation or association, or living within well. The chief function of the Federal Farm Mortdefined communities. A member of a Federal credit gage Corporation is to aid in financing the lending union must purchase at least one $5 share in the operations of the Federal land banks and the Land organization. Loans may be made to members Bank Commissioner, particularly the farm debt reonly, for provident or productive purposes.

financing program begun in the spring of 1933. To Through these federally chartered credit unions do this, the Corporation is authorized to issue and the working people of America have lent themselves have outstanding at any one time a total of not an estimated $210,000,000 in six years.

more than $2,000,000,000 of bonds. The payment Federal Land Banks-W E. Rhea, Land Bank of principal and interest on bonds of the Federal Commissioner, Washington, D. C.

Farm Mortgage Corporation is fully and uncondiFederal Land Banks, established under the tionally guaranteed by the Government and, in authority of the Federal Farm Loan Act of 1916 addition, the bonds are as readily marketable as make long-term loans on first mostgages on farm United States Government bonds. lands. Individuals who receive such loans, giving Emergency Crop and Feed Loan Section-S. P. & first mortgage on their farms as security, must Lindsey, Jr., Director; Washington, D. C. agree to repay them in annual or semi-annual in- An Act of Congress approved Jan. 29, 1937, stallments. Corporations engaged in raising live. authorizes the Governor of the Farm Credit Adstock also are eligible to borrow, under certain ministration to make loans to farmers for fallowlimitations. Loans are made for not less than ing. for the production and harvesting of crops, $100 and not more than $50.000 to any one bor- and for feed for livestock. The unobligated balance rower. Application should be made to the of the crop loan appropriation for the fiscal year secretary-treasurer of the national farm loan 1940, and collections on 1937. 1938 and 1940 loans. association in the community where the farm to was made available by Congress for making 1941 be mortgaged is situated.

loans. The Land Bank Commissioner is authorized by Emergency crop and feed loans are made only to the Emergency Farm Mortgage Act of May 12. applicants who are unable to procure from other 1933, and subsequent acts and amendments, to sources loans in amounts reasonably adequate to make farm-mortgage loans until June 1, 1942, meet their needs. Farmers who have adequate of a more or less emergency character, separate security ordinarily are able to obtain needed funds and distinct from Federal land bank loans. The from local production credit associations, banks, Federal land banks act as agents of the Land Bank and individuals. Cornmissioner in making these loans.

The regulations provide that the amount which Commissioner loans may be made for the same may be lent to any one borrower during the year purposes as land bank loans. In addition, Com- shall not exceed $400.

Farm Security Administration FSA-Parm Security Administration--C. B. Baldwin, Administrator. Address, Washington, D. C. The Parm Security Administration was created military and industrial defense expansions. Loans, by the Secretary of Agriculture, September 1, 1937, grants, temporary housing, and help in moving as successor to the Resettlement Administration.

families and finding new larms is made available The purpose is to enable farm families on or near to farmers in each area where displacement has relief to become permanently self-supporting. The occurred. work is divided into three phases:

(b) Building of defense housing. In cooperation 1. A rehabilitation program under which (a)

with the Division of Defense Housing Coordination, farmers unable to obtain adequate credit from any

which determines need, designates sites and types other source may receive small loans which will

of shelter. FSA builds temporary and permanent enable them to continue farming on the basis of a

housing for fense workers. Funds for the temsound plan of farm and home management; (b)

porary program are provided by the Urgent Defarmers overburdened with debt may find a ma

ficiency Appropriation Act, for the permanent by chinery for negotiating voluntary adjustment with the Lanham Act. Family trailers, dormitories for their creditors; (c) larmers handicapped by an

single persons, and prefabricated houses are used. uneconomic scheme of operations may obtain the assistance of farm management experts in plan

(c) Cooperation with other agencies of the

Department of Agriculture in the food for defense ning a better system of farming; (d) farm families

effort. To augment defense food production, FSA in extreme distress but without prospects of mak.

makes supplemental loans to regular FSA boring a crop (as in drought or nood areas) may

rowers for special purchases of livestock, feed, and receive small grants for the purchase of food and

equipment. clothing; and (e) groups of low-income farmers

Since 1934, rehabilitation loans have been made may obtain loans for the cooperative purchase or rental of necessary community services, such as

to nearly 900.000 families. These loans have heavy machinery and purebred sires, which no

totaled $570,000,000. The interest rate is 5 percent one of them could afford alone. This rehabilita

and the period of the loan is ordinarily from three tion program, although largely self-liquidating, is

to ten years. From its beginning in 1934 through financed principally through loans from the Re

June 30, 1941, the grant program has helped construction Finance Corporation,

575,000 farm families. During the same period 2. A farm purchase program under which tenant

$2,000,490 has been lent to cooperative associafamilies may receive a loan for purchase and

tions of farmers. improvement of farms of their own. This program

Under the provisions of the Bankhead-Jones Act, was authorized by the Bank head-Jones Farm nearly 21,000 farm tenant families received loans Tenant Act of July 22, 1937, and became part of for the purchase and improvement of farms of the activities of the Farm Security Administration their own during the four years the program has by order of the Secretary.

been operating. These loans averaged $5,648 for 3. Completion of 164 homestead projects where the average farm of 133 acres, including necessary low-incorne farm and city families will have an improvements and construction. As in the case of opportunity to live under better conditions. the rehabilitation loans, credit is accompanied by Creation and maintenance of sanitary camps

advice on farm and home management and family for migratory agricultural workers. The com

record-keeping. pleted program will include 41 stationary and 23 The tenant purchase loans are secured by mobile camps, located in ten states-California, mortgages held by the Government. Repayment Oregon, Washington, Idaho, Arizona, Texas, will extend over a period of 40 years at 3 percent Florida, Missouri, Colorado, and Arkansas---provid- interest. Annual payments are made under a ing facilities for 14,886 families at any one time. Variable Payment Plan which allows the farmer

Special work of FSA in connection with National to pay more in good crop years and less when his Defense includes:

income is low. Annual payments must average (a) Relocation of farm families displaced by 4.3 percent of the loan.

Farm Credit Administration Operations
Source: Farm Credit Administration; loans and discounts outstanding in thousands of dollars

Fed. interme.
Farm mortgage cred. bk. loans

Loans to cooperatives
loans by-
to & disc, for


End of month

SS Agricultural Marketing

Act revolving fund

1933--December. . 1,232,707 70,738 73.263 60,989

27 144,636 90.863 15.211

18,697 167.752 1934-December 1,915,792 616,825 99,6751 55,672 60,852 87,102 111,238 33.969 27,851 64,863 1935-December.. 2,071,925 794,726 104,706 47,162 94,096 43,400 172,863 2.731 50,013 44,433 1930-December.. 2,064,158 836.779 129,872 41,017) 105,212 25,288/ 165.369 1.641 69.647

53.764 1937- December 12,035.307 812.749 165.194 40,464 138,169 15.592 172,701 1.813 87.633 30.982 1938-December. 1.982.224 752,851 168,392 33,545 148,037 11,081 171,489 920

87,496 23.723 1939 — December .. 1.901,655 690,880 165,236 33,354 154,494 8.005) 168,330 1,835 76.252 20.647 1940Decernber. . 1.851,218 648,296 186,933 34,102 172,312 5.855 168,438 1,490 74,741 16,451 1941--June... 1,817,938 630.1191 224,517 42,184 221.419 6,658 179,487 689 73.74715,644

Export-Import Bank of Washington EIB-Export-Import Bank of Washington. Warren Lee Pierson, President. Address, Washington, D.C.

The Export-Import Bank of Washington was to deal in bills of exchange, notes, drafts, and created by Executive order (Feb. 2, 1934). By other evidences of indebtedness, and, with the Public Act No. 1, 74th Congress, approved Jan. 31, approval of the Secretary of the Treasury, to bor 1935. us emended, the Bank was continued as an row

money and rediscount these evidences of agency of the United States until Jan. 22, 1947. or debt; to deal in securities, including obligations such earlier date as the President may fix by of the United States or any State; to accept bills Executive order.

or drafts drawn upon it; issue letters of credit: The purpose is to aid in financing and to purchase and sell coin, bullion, and exchange: lend facilitate exports and imports and the cxchange inoney and perform the necessary functions per of commodities between the United States and mitted by law in conducting such business Its any of its territories and insular possessions and capital stock of $175,000,000 is divided into $1.000.any foreign country or its agencies or nationals. 000 par value of common stock and $174,000,000 par It is authorized to do a general banking business, value of preferred stock.

Surplus Marketing Administration SMA--Surplus Marketing Administration, Roy F. Hendrickson, Administrator. Address: Washington, D.C.

The Piesident's Reorganization Order No. 3, children in 67,000 schools got free school lunches, which became effective June 30, 1940, established made up largely of surplus commodities. the Surplus Marketing Administration to ad- The Food Stamp Plan moves agricultural products minister marketing agreement and surplus removal from the farm through regular channels of trade to programs. Marketing agreement programs, first relief families who need these foods. In areas available in 1933 under the original Agricultural where the Stamp Plan is in operation, families Adjustment Act, are now authorized by the Agri-receiving public aid are given new food purchasing cultural Marketing Agreement Act of 1937. Basic families use these stamps at grocery stores to

power in the form of blue food order stamps. The authorization for the various surplus removal pro- Sobtain any of the foods designated as being in grams is provided by related legislation.

surplus. The blue stamps give the relief families Because of its long record of experience in buy- a 50 percent increase in the amount they have to ing farm commodities, SMA was designated as the spend for food. This enables them to get fruits, purchasing agent of the Government under the vegetables, dairy and poultry products, and meats food-for-defense program that was initiated in --the health giving foods in which low income March, 1941. with passage of the Lend-Lease Act. diets are deficient. Meats, dairy products, poultry products, fruits, To assure that the free blue stamps will represent vegetables, and other farm commodities bought

an increase in food buying power, families on under this program may be used for (1) domestic relief, who wish to take part in the program, are distribution to public aid families and for free required to buy orange colored food stamps at a school lunches, (2) to meet requirements for the

minimum rate of $1.00 a week for each member of Red Cross for shipment to war refugee areas, (3) the family. This approximates their regular food for transfer to other countries under terms of the expenditures. Wih each $1.00 worth of orange Lend-Lease Act, or (4) for stabilization reserves. stamps bought they receive in addition 50 cents

Marketing agreement programs make it possible worth of free blue stamps. The orange stamps for producers, cooperating with each other and are good in grocery stores for any food, and are with the Government, to secure greater stability in used to continue regular food purchases. the marketing of their products. This serves as a Grocers may redeem both the orange and the protection not only for producers, but also for blue stamps at their bank or through the local consumers. At the end of the 1940-41 fiscal year, office of the Surplus Marketing Administration. more than 45 marketing agreements were in effect

The list of foods which may be obtained with the for milk and dairy products and for other farm

free blue stamps changes from time to time in products such as fruits, vegetables, nuts, and hops. accordance with changes in growing seasons and

Domestic surplus removal and distribution pro- market conditions. The list in effect on June 30, grams which are carried out by the Administration 1941, the end of the fiscal year, included the serve a dual purpose. They help farmers by re- following foods: fresh grapefruit. apples, oranges. moving part of the agricultural surpluses which cabbage, snap beans, Irish potatoes, raisins. pork depress producer prices. This contributes directly lard, all pork (except that cooked or packed in to farm income, and indirectly to the economic metal or glass containers). corn meal, shell eggs, welfare of all. At the same time, the surplus com- dried prunes, hominy grits, dry beans, wheat flour, modities are made available to millions of low- and whole wheat (Graham) flour. income families who otherwise could not get them. Between the time the Food Stamp Plan was

Surplus removal programs include purchases for started in Rochester, N. Y., May 16, 1939 and June direct distribution through the States to needy 30, 1941, it was extended to 363 cities or areas. families and for use in school lunch programs, and During the month of June, 1941, the blue food the food and cotton stamp plan programs. During order Stamps added nearly $10,000,000 worth of the 1940-41 fiscal year, an average of 8.700,000 per- farm products to the diets of almost 4,000,000 sons received surplus food each month under the members of families eligible to receive public direct distribution program, and nearly 5,000,000 assistance.

Federal Deposit Insurance Corporation FDIC-Federal Deposit Insurance Corporation-Leo T. Crowley, chairman. Address, Washington, D. C. District offices are maintained in Boston, New York, Columbus, O., Richmond, Va., Atlanta, Ga., St. Louis, Madison, Wise., Chicago, St. Paul, Minn., Kansas City, Mo., Dallas, Tex., and San Francisco.

The chief function of the Federal Deposit In- | the commercial banks, 6,553, by virtue of their surance Corporation is to insure the deposits of status as national banks or as State banks memn all banks entitled, under the Banking Acts of 1933

bers of the Federal Reserve System, were auto

matically insured, and 6,873 were banks not memand 1935. to benefits of insurance. In carrying out

bers of the Federal Reserve System. The insured this function the Corporation may pay deposits in

commercial banks on December 31, 1940, held deinsured banks which fail, may act as receiver for

posits of approximately $, of which closed banks, and may extend loans to facilitate

deposit insurance was protecting about 45 per cent. mergers of insured banks which will avert losses to the Corporation. The maximum amount of insured of 60,000,000 depositors, more than 98 per cent

were fully protected. deposit of any depositor is $5.000.

In 1940, the funds of 256,415 depositors in 43 The Corporation also supervises and conducts

insolvent banks were protected by FDIC, either by regular examinations of insured State banks not

paying them off or by making loans to facilitate members of the Federal Reserve System and exer

the absorption of banks by sound insured insti. cises some supervisory control over all insured

tutions, During the six months ended June 30, banks.

1941, FDIC acted to protect depositors in 8 insured The capital stock of the Corporation subscribed banks closed or receiving aid from the Corporation according to the requirement of the law, is: By because of insolvency. or the 33,972 depositors in the Treasury of the United States, $150.000.000: by these banks, all but 39 were fully protected from the Federal Reserve Banks, $139,299,556.99. Each loss by insurance or otherwise. Total deposits in Federal Reserve Bank subscribed to stock equal in these banks amounted to $10.654,000, of which amount to one-half the surplus of such bank as of

$10,522,000, or 98.8 per cent, were protected against Jan. 1, 1933. The capital stock is without nominal loss. or par value, has no vote and is not entitled to

For the entire period from January 1, 1934, to dividends.

June 30, 1941. FDIC acted to protect 1.167.349 On June 30, 1941, the surplus of the Corporation depositors of 363 insolvent banks. Total deposits amounted to $234,072,503.76, having increased dur- in these banks were $449,286.000, all but 2.2 per ing the year 1940 by $43,274,109 20, and during the cent of which was made available promptly. Less first six months of 1941 by $27,387.229.53. As of than one-fourth of one per cent of the depositors June 30, 1941, total capital and surplus amounted held accounts in excess of $5.000 which were not to $523.372.060.75.

fully protected. of the 14,355 operating commercial banks in the Disbursements by FDIC for the protection of United States and its possessions on June 30, 1941, depositors in insolvent insured banks through June deposits in 13.426 were insured by the Corporation. 30, 1941, amounted to $239,367,104.46, of which it In addition, deposits in 53 of the 550 mutual sav- is estimated more than 75 per cent will be ings banks were insured by the Corporation. Oil recovered.

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