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Seventy-Fifth Congress, Tidrd Session SEVENTY-FIFTH CONGRESS, TIDRD SESSION SENATE authorizations made during the month, showing the name, amount. and rate of interest or dividend in each case; state­ THURSDAY, MARCH 17, 1938 ment of cash receipts and expenditures during the month; <Legislative day ot Wednesday, January 5, 1938) and statement of condition as of the close of business, Jan­ uary 31, 1938, which, with the accompanying report and The Senate met at 12 o'clock meridian, on the expiration statements, was referred to the Committee on Banking and of the recess. Currency. THE JOURNAL PETITIONS AND MEMORIALS On request of Mr. BARKLEY, and by unanimous consent, the reading of the Journal of the proceedings of the calendar The VICE PRESIDENT laid before the Senate the follow-. day Wednesday, March 16, 1938, was dispensed with, and ing resolution of the House of Representatives of the State the Journal was approved. of New Jersey, which was referred to the Committee on MESSAGES FROM THE PRESIDENT Banking and Currency: Assembly resolution memorializing the Congress of the United Messages in writing from the President of the United States to reduce the interest rate on Home Owners' Loan Cor­ States were communicated to the senate by Mr. Latta, one poration mortgages and to extend the amortization period of his secretaries. thereof CALL OF THE ROLL Whereas during the period 1933 to 1936 the Home Owners' Loan Corporation granted loans on numerous owner-occupied homes Mr. BARKLEY. I suggest the absence of a quorum. in the United States. thus enabling many families to continue The VICE PRESIDENT. The clerk will call the roll. to live in their own homes; and The Chief Clerk called the roll, and the following Senators Whereas individual ownership of homes fosters good citizenship answered to their names: in all its aspects; and Whereas the present lnter.est rate and short amortization period Adams Connally Johnson, Colo. Overton have made it impossible for a large percentage of these home Ashurst Davis King Pittman Austin Dieterich La Follette Pope owners to maintain their payment schedules and many foreclosures Bailey Donahey Lee Radcliffe are resulting: Therefore be it Bankhead Ellender Lodge Reames Resolved by the General Assembly of the State of New Jersey: Barkley Frazier Logan Reynolds 1. That the Congress of the United States be, and the same ts Berry Gerry Lonergan Russell hereby, requested to favorably consider one of the many bills Bilbo Gibson Lundeen Schwartz before it to reduce the interest rate on mortgages held by the­ Bone Gillette McAdoo Schwellenbach Home Owners' Loan Corporation from 5 percent to 3 or 3lh percent Borah Glass Mccarran Shipstead and to extend the amortization period for said mortgages from 15 Bridges Green McGill Smathers years to 20 or 25 years. Brown. Mich. Gu1fey McKellar Smith Brown. N.H. Hale McNary Thomas. Okla. 2. That copies of this resolution duly authenticated be senv · Bulkley Harrison Maloney Thomas. Utah to the President of the United States, the Vice President of the Bulow Hatch Miller Townsend United States. the Speaker of the House of Representatives, and Burke Hayden Milton Truman to the Senators and Representatives in the Congress of the United Byrd Herring Minton Tydings States from the State of New Jersey. Byrnes Hill . Murray Vandenberg 3. That the Senators from this State and the Representatives Capper Hitchcock Neely Van Nuys Caraway Holt Norris Wagner !rom this State in the Congress of the United States be requested Chavez Hughes Nye Walsh to use every effort to effectuate this resolution. Clark Johnson. Cali!. O'Mahoney Wheeler 4. This resolution shall take effect immediately. Mr. MINTON. I announce that ·the senator from Geor­ The VICE PRESIDENT also laid before the Senate reso­ gia [Mr. GEORGE] is detained from the Senate because of a lutions of the General Court of Massachusetts, favoring the death in his family. enactment of legislation requiring the stamping on the outer The Senators from Florida [Mr. ANDREWS and Mr. PEP­ soles the name of the country of manufacture of all shoes PER], the Senator from New York [Mr. CoPELAND], the Sena­ imported from foreign countries, which were referred to the tor from Wisconsin [Mr. DUFFY], the Senator from Illinois Committee on Commerce. [Mr. LEWIS], and the Senator from Texas [Mr. SHEPPARD] (See resolutions printed in full when presented by Mr. are detained on important public business. WALSH on the 16th instant, p. 3453, CONGRESSIONAL RECORD.) The VICE PRESIDENT. Eighty-eight Senators have The VICE PRESIDENT also laid before the Senate resolu­ answered to their names. A quorum is present. tions of the General Court of Massachusetts, favoring the REPORT~ OF RECONSTRUCTION FINANCE CORPORATION enactment of legislation to discourage the migration of in­ The VICE PRESIDENT laid before the Senate a letter from dustrial establishments from one State to another insofar the Chairman and Secretary of the Reconstruction Finance as such removals are effected by offering to such establish­ Corporation, transmitting, pursuant to law, a report of the ments the inducements of free rental, free power, or ex­ Corporation covering its operations for the fourth quarter emption from or abatement of taxes, which were referred of 1937, and for the period from the organization of the Cor­ to the Committee on Education and Labor. poration on February 2, 1932, to December 31, 1937, inclu­ (See resolutions printed in full when presented by Mr. sive, which, with the accompanying report, was referred to WALSH on the 16th instant, p. 3453, CONGRESSIONAL RECORD.) the Committee on Banking and Currency. The VICE PRESIDENT also laid before the Senate resolu­ He also laid before the Senate a letter from the Chairman tions adopted by Local No. 131, State, County, and Municipal of the Reconstruction Finance Corporation, transmitting, Workers of America, Los Angeles, Calif., expressing confi­ pursuant to law, a report of the Corporation for the month dence in the leadership of Harry Bridges and the I. L. W. U., of January 1938, together with a statement of loan and other and condemning alleged attacks as attempts to destroy the LXXX.III--224 3537 3538 CONGRESSIONAL RECORD-SENATE MARCH 17 gains of the maritime workers, which were referred to the We urge the acceptance of the sound and fundamental principles herein set forth and we call upon Congress for immediate action Committee on Commerce. along these lines. He also laid before the Senate a resolution adopted by the Council of the City of St. Paul, Minn., protesting against REPORTS OF COMMITTEE ON CLAIMS the enactment of the bill <H. R. 9738) to create a Civil Aero­ Mr. HUGHES, from the Committee on Claims, to which nautics Authority, to provide for the regulation of civil aero­ was referred the bill <H. R. 4427) for the relief of Merritt nautics, and for other purposes, which was referred to the Rea, reported it without amendment and submitted a report Committee on Interstate Commerce. (No. 1500) thereon. Mr. CAPPER presented a petition of sundry citizens of Mr. ELLENDER, from the Committee on Claims, to which Pittsburg, Kans., praying fof the enactment of the bill were referred the following bills, reported them each with­ (S. 25) to prevent profiteering in time of war and to equalize out amendment and submitted reports thereon: the burdens of war and thus provide for the national de­ H. R. 3253. A- bill for the .relief ot John Fitzgerald and fense, and promote peace, which was referred to the Com­ J. R. Harper <Rept. No. 1501); and mittee on Finance. H. R. 3703. A bill for the relief of Carl J. Scheier (Rept. He also presented a resolution .adopted by the Pratt No. 1502). (Kans.) Chapter of the National Aeronautic Association, Mr. ELLENDER also, from the Committee on Claims, to favoring a national air transportation program as an im­ which was referred the bill <S. 3103) for the relief of the portant element in national defense, which was referred to Comision Mixta Demarcadora de Limites Entre Colombia y the Committee on Interstate Commerce. Panama, reported it with an amendment and submitted a PETITIONS FAVORING TAX REVISION report <No. 1503) thereon. Mr. WALSH. Mr. President, I present a letter from the Mr. MILTON, from the Committee on Claims, to which Worcester (Mass.) Chamber of Commerce, containing the was referred the bill (S. 3300) for the relief of Pearl Bundy, signatures of 78 leading industrial concerns, protesting par­ reported it with an amendment and submitted a report <No. ticularly against the imposition of a penalty tax on closely 1504) thereon. held corporations and I request that it be treated in the He also, from the same committee, to which was referred nature of a petition and referred to the Committee· on the bill (S. 1987) for the relief of George J. Leatherwood, Finance. reported it with amendments and submitted a report <No. The VICE PRESIDENT. The petition presented by the 1505) thereon. Senator from Massachusetts will be received and referred to He also, from the same committee, to which were referred the Committee on Finance. the following bills, reported them each without amendment Mr. WALSH. I also present a petition signed by 9,241 and submitted reports thereon: citizens of the city of Worcester and vicinity, in Massachu­ H. R. 520. A bill for the relief of the estate of Nick setts, including employers and employees, and ask that it Gruyich <Rept. No. 1506) ; and be printed in the CONGRESSIONAL RECORD, without the signa­ H. R. 6473. A bill for the relief of Paul H. Brinson <Rept. tures, and referred to the Committee on Finance. No. 1507). There being no objection, the petition was referred to the Mr. BAILEY, from the Committee on Claiins, to which was Committee on Finance and ordered to be printed in the referred the bill <S.
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