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SUBCOMMITTEE OF THE

V COMMITTEE ON
AGRICULTURE AND FORESTRY.

UNITED STATES SENATE

EIGHTY-FOURTH CONGRESS

SECOND SESSION

ON

S. 3549, S. 3550, and S. 3564

BILLS TO MERGE PRODUCTION CREDIT CORPORATIONS IN
FEDERAL INTERMEDIATE CREDIT BANKS; TO PROVIDE
FOR RETIREMENT OF GOVERNMENT CAPITAL IN FEDERAL
INTERMEDIATE CREDIT BANKS; TO PROVIDE FOR SUPER-
VISION OF PRODUCTION CREDIT ASSOCIATIONS; AND FOR

OTHER PURPOSES

5.-6:3, 7

APRIL 23 AND 24, 1956

Printed for the use of the Committee on Agriculture and Forestry

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COMMITTEE ON AGRICULTURE AND FORESTRY

ALLEN J. ELLENDER, Louisiana, Chairman OLIN D. JOHNSTON, South Carolina

GEORGE D. AIKEN, Vermont SPESSARD L. HOLLAND, Florida

MILTON R, YOUNG, North Dakota CLINTON P. ANDERSON, New Mexico EDWARD J. THYE, Minnesota JAMES 0. EASTLAND, Mississippi

BOURKE B. HICKENLOOPER, Iowa EARLE C. CLEMENTS, Kentucky

KARL E. MUNDT, South Dakota HUBERT H. HUMPHREY, Minnesota

JOHN J. WILLIAMS, Delaware W. KERR SCOTT, North Carolina

ANDREW F. SCHOEPPEL, Kansas Corys M. MOUSER, Chief Clerk

SUBCOMMITTEE ON AGRICULTURAL CREDIT AND RURAL ELECTRIFICATION

SPESSARD L. HOLLAND, Florida, Chairman HUBERT H. HUMPHREY, Minnesota KARL E. MUNDT, South Dakota W. KERR SCOTT, North Carolina

ANDREW F. SCHOEPPEL, Kansas

I

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79

Statement of

Page

Armer, Frank C., chairman, Other Financing Institutions Committee
of Arizona, Phoenix, Ariz..

182

Bagwell, John C., General Counsel, Farm Credit Administration.-- 23

Banks, King L., representing the Production Credit Associations of the

Ninth Farm Credit District, Delta, Colo.--

85

Blalock, H. G., national advisory committee of Production Credit

Associations, Baskerville, Va---

90

Briggs, Marvin J., Chairman, Federal Farm Credit Board, Indianapolis,
Ind..

16, 192

Campbell, L. D., secretary, Other Financing Institutions Committee

of Texas, Houston, Tex-

96

Cowden, E. Ray, president, Arizona Stockman's Loan Co., Phoenix,
Ariz..

184

Crouch, James, secretary, 10th Farm Credit District Production Credit

Associations Committee, Burleson, Tex.

170

Davis, Roy B., manager, Plains Cooperative Oil Mills, Lubbock, Tex.. 172

Hall, Hugh F., legislative assistant, American Farm Bureau Federation. 137
Halverson, Lloyd C., National Grange..

124
Harris, Glen R., chairman, national advisory committee of Produc-

tion Credit Associations, Richvale, Calif..

Johnston, Watkins, representing the Production Credit Associations

of the Fifth Farm Credit District, Montgomery, Ala.---

179

Justice, Robert_0., president of the board, Peru Production Credit
Association, Peru, Ind.--

83

Lacy, W. E., vice chairman, national advisory committee of Production

Credit Associations, Hopkinsville, Ky-

90

Larson, Abner B., secretary-treasurer, Mandan Production Credit

Association, Mandan, N. Dak..

62

Lynn, John C., legislative director, American Farm Bureau Federa-

tion.-

137

McLeod, Kenneth M., chairman, Committee of Privately Owned Agri-

cultural Credit Companies in the Seventh Farm Credit District, Fond

du Lac, Wis...

185

Miles, Harold A., Director, Short-Term Credit Service, Farm Credit

Administration...

23

Rappaport, Percy, Assistant Director, Bureau of the Budget-

109
Read, Leonard Ě., Jr., manager, California Cotton Credit Co., Los
Angeles, Calif.

173
Riggle, John J., secretary, National Council of Farmer Cooperatives... 116
Sartwelle, J. W., vice president, Houston Agricultural Credit Corp.,
Houston, Tex

148
Scott, Kenneth L., Director, Agricultural Credit Services, United
States Department of Agriculture..

86
Seidman, Harold, Bureau of the Budget-

112
Smith, Barney, president, Nashville Production Credit Association,
Nashville, Ark..

105
Thomson, Wayne, president, Jennings Production Credit Association,
Jennings, La

93
Tootell, R. B., Governor, Farm Credit Administration..

23, 65, 144
Tull, J. E., secretary-treasurer, Lonoke Production Credit Association,
Lonoke, Ark..

107

Uelsmann, Martin H., Deputy Director, Short-Term Credit Service,

Farm Credit Administration..

23

Wilson, P. O., secretary, National Live Stock Producers Association,

Chicago, III.

157

Young, M. G., Lonoke Production Credit Association, Carlisle, Ark.-- 106

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