76TH CONGRESS 3d Session } SENATE { REPORT No. 1723 AMENDING SECTION 15 (G) OF THE AGRICULTURAL MARKETING ACT, AS AMENDED, RELATING TO THE DEFINITION OF AGRICULTURAL COMMODITY MAY 30 (legislative day, MAY 28), 1940.-Ordered to be printed Mr. ELLENDER. from the Committee on Agriculture and Forestry, submitted the following REPORT [To accompany S. 3879] The Committee on Agriculture and Forestry, to whom was referred the bill (S. 3879) to amend section 15 (g) of the Agricultural Marketing Act, as amended, relating to the definition of agricultural commodity, having considered the same, report thereon favorably, with a recommendation that the bill do pass without amendment. The purpose of this bill is to amend the Agricultural Marketing Act so as to include moss, including moss which has been through the first cleaning (ginning) process, within the definition of the term "agricultural commodity." In broadening the definition of this term so as to include moss, the producers of this commodity would be entitled to the benefits which are now conferred upon producers of other agricultural commodities coming within the definition of the term. Your committee recommend the enactment of this bill. О MAY 30 (legislative day, MAY 28), 1940.—Ordered to be printed Mr. SHEPPARD, from the Committee on Military Affairs, submitted the following REPORT [To accompany S. 3982] The Senate Committee on Military Affairs, to whom was referred the bill (S. 3982) to authorize appropriations for construction at military posts, and for other purposes, having considered the same, report favorably thereon with recommendation that it do pass, amended as follows: Increase the amount for Schofield Barracks, Hawaii, from $780,000 to $823,200. Increase the amount for Fort Benning, Ga., from $1,280,500 to $1,320,500. Increase the amount for Fort Knox, Ky., from $100,000 to $153,124. Decrease the amount for Picatinny Arsenal from $218,524 to $23,000. Eliminate the entire amount, $175,000, for Frankford Arsenal, Pa. Put in a new amount, $96,000, for Fort Sill, Okla. Put in a new amount, $48,200, for Fort Pickens, Fla. Put in a new amount, $65,000, for Fort McPherson, Ga. The increases and decreases, the subtractions and additions leave the total amount authorized to be appropriated unchanged, namely, $15,000,000. The committee held hearings in connection with this bill, with representatives of the War Department present. After the original measure was drafted, the Department found it necessary to make the changes herein indicated. The committee has therefore accepted these changes upon the recommendation of the War Department. The letter of the War Department concerning the original draft of the measure follows: Hon. MORRIS SHEPPARD, WAR DEPARTMENT, Chairman, Committee on Military Affairs, United States Senate. DEAR SENATOR SHEPPARD: There is enclosed a draft of a bill to authorize appropriations for construction at military posts and for other purposes, which the War Department presents for the consideration of Congress with a view to its enactment into law. This legislation is designed to obtain the necessary congressional approval of urgent construction projects, in order that funds may be requested to accomplish the construction in the fiscal year 1942. The proposed bill includes a limited number of urgent construction projects at stations other than Air Corps, which are immediately essential for the housing of the Army, and for manufacturing arsenals and storage. The construction involved is of a permanent character and in many instances is designed to replace temporary or outworn buildings that are entirely inadequate, most uneconomical to repair, and whose replacement will result in an appreciable saving in appropriations for maintenance. The construction for manufacturing and storage will provide, to a very limited degree, our requirements for the manufacture of items not fabricated commercially, or produced in such small quantities in industry as to prohibit adequate supply in an emergency, and for the storage and distribution of critical items. The authorization proposed in the attached bill is necessary in order to enable the War Department to include essential construction in the annual appropriation bill for the fiscal year 1942, as very little new construction, other than Air Corps, is at present authorized. Furthermore, world conditions indicate the urgent need for the accomplishment of certain new and essential construction projects. The Bureau of the Budget advises that there would be no objection to the submission of this proposed legislation to Congress. Sincerely yours, HARRY H. WOODRING, О = MAY 31 (legislative day, MAY 28), 1940.-Ordered to be printed Mr. WAGNER, from the Committee on Banking and Currency, submitted the following REPORT [To accompany S. 3938) The Committee on Banking and Currency, to which was referred the bill (S. 3938) to authorize the purchase by the Reconstruction Finance Corporation of stock of Federal home-loan banks; to amend the Reconstruction Finance Corporation Act, as amended; and for other purposes, having considered the same, reports favorably thereon with an amendment and recommends that the bill as amended do pass. STATEMENT Section 1 of the bill as reported authorizes the Reconstruction Finance Corporation to purchase at par any part of the stock of any Federal home-loan bank owned by the United States, in amounts to be determined by the Corporation with the approval of the Federal Loan Administrator. The stock so purchased is to be held subject to the same conditions, requirements, rights, and privileges (including all dividend and retirement provisions) as are provided by law for or in connection with the ownership of such stock by the United States. Section 2 authorizes the Reconstruction Finance Corporation to retire a part of its capital stock or to pay dividends on its capital stock in amounts to be determined by the Corporation with the approval of the Federal Loan Administrator. The aggregate amount of notes, debentures, bonds, or other such obligations which the Corporation is authorized to issue and have outstanding is not to be decreased by reason of such retirement of capital stock, but is to be increased by an amount sufficient to provide for such retirement of stock, payment of dividends, and purchase of Federal home-loan bank stock. |