COMMITTEE ON BANKING AND CURRENCY WRIGHT PATMAN, Texas, Chairman ABRAHAM J. MULTER, New York WILLIAM A, BARRETT, Pennsylvania LEONOR K. SULLIVAN, Missouri HENRY S. REUSS, Wisconsin THOMAS L. ASHLEY, Ohio WILLIAM S. MOORHEAD, Pennsylvania BERNARD F. GRABOWSKI, Connecticut RICHARD L. OTTINGER, New York THOMAS C. MCGRATH, JR., New Jersey FRANK ANNUNZIO, Illinois WILLIAM B. WIDNALL, New Jersey FLORENCE P. DWYER, New Jersey ALBERT W. JOHNSON, Pennsylvania PAUL NELSON, Clerk and Staff Director CURTIS A. PRINS, Chief Investigator II CONTENTS Page H.R. 7539. A bill to assist cities and States by amending section 5136 of the Revised Statutes, as amended, with respect to the authority of national banks to underwrite and deal in securities issued by State and local governments, and for other purposes. - Balderston, Hon. C. Canby, Vice Chairman, Board of Governors of the Federal Reserve System; accompanied by David B. Hexter, Assistant General Counsel; and J. Charles Partee, adviser, Division Condon, Raymond V., vice president, First Wisconsin National Bank Goldberg, Daniel B., associate counsel to the Port of New York 120 107 Hanna, Hon. Richard T., a Representative in Congress from the State 189 Harkness, Robert B., president, Harkness & Hill, Inc., Boston, 160 70 St Germain, Hon. Fernand J., a Representative in Congress from the Healy, Patrick, executive director, National League of Cities.. Milner, Thomas H., Jr., president and trust officer, National Bank Morgan, William F., vice president, Investment Bankers Association Saxon, Hon. James J., Comptroller of the Currency; accompanied by Radcliffe Park, Deputy Comptroller of the Currency; and Roman Zaun, Ralph, vice president, Grafton State Bank, Grafton, Wis.; Comments on proposed amendment of Mr. Reuss to H.R. 7539-- Draft amendment to H. R. 7539 prepared by the staff of the Board Letter to Hon. Wright Patman, concerning request of Mr. Reuss, Prepared statement of Austin J. Tobin, executive director of 108 Additional information submitted to the committee by-Continued Copy of Bank of America Standard Syndicate Agreement.- Letter to Hon. Wright Patman, dated May 24, 1965. Investment banking firms in the municipal bond business in the United States as listed in the Bond Buyer Directory, 1965 early edition, not including commercial banks. Letter from Edwin G. Michaelian, president, National Asso- ciation of Counties, Washington, D.Ĉ., dated April 28, 1965... Letter from F. Shelby Cullom, chairman of the Legislative Com- mittee, National Association of Supervisors of State Banks, Washington, D.C., dated April 26, 1965-- Letter to National Association of Counties Board of Directors from National Association of Counties Ad Hoc Committee on Underwriting of Revenue Bonds, dated November 22, 1964.. National Association of Securities Dealers, Inc., in opposition Randall, K. A., Chairman, Federal Deposit Insurance Corpo- "Investment Securities Regulation for National Banks," Regu- lation No. 1, September 12, 1963. Letter to Hon. Wright Patman, regarding request of Mr. Reuss, Assembly Joint Resolution No. 34 by California Legislature, 1965 session, relative to municipal revenue bonds... "Misuse of Public Credit To Aid Private Enterprise or the Case Statement of Alan K. Browne, Bank of America, N.T. & S.A., 174 |