Page:United States Statutes at Large Volume 39 Part 1.djvu/397

 376 SIXTY-FOURTH CONG]¥ESSl" sas. 1; cs. 245. me · schedule to the_Federal  Bean Board, giving such further information perta.m’ mg thereto_as.he may possess. The Federal Farm Loan Board shall orthwitli cause to be made such mvestigation and a praisement of the seczuities tendered as it shall deem wise, and It sllall grant inwhole or in   or reshectfentirely, such apphcation. ,,2*** "’ B°"‘*· The Federal Farm Loan oard sh romptli transmit its dec1sion as to any issue of farm loan bonds to the land   applying for the same pnd_to the farm loan   ofuthe   and registratr shall urmah, in wntmg, su erma on regar any issue o farinlom bonds as the ederal Farm Loan Board may at any time w'*““‘¤"°""~ mtkldrizsue of farm loan bomb shall   authorizedunless the Federal Farm Loan Board shall approve such Bene in wntang. » rsstm or rams Loan Mm ‘°b°kS' Sec. 19. That whenever an  loan registrar shall receive from the Federal Farm¤Loan Board notice that it has approved any issue of farm loan bonds under the provisions of section eighteen he shall forthwith take such stag: as maybe necessary, in accordance with the £1'0VZlS10!1B of this t, to insure the prompt execution of said M bon and thezldehpyery of tyhe sang; to t]l;pmlz;p1d  applying thprefor. dm,-,d_ · ever e arm- an t ti an mm application for an issue of farm loan bonds,Sthe fili·a(?t?(i1i¢·?:tgd-ge; and }’°‘1% ‘°“b‘Z.°f?.§£° a°.t° f°'“emdl°“’2e”“*§°`£I.3“t?.Kl{“£°"£eZ?°“" “h°’°" _ _ our wi re ~ said, .,,E‘,§’,§?Sm% §§,,,L$%’} Whenever the Federal Farm Loan Board shallyappmve gm issue of farm loan bonds, the {mm loau registrar having the custody of the first rtg d bomb tmdered llateral y f ch ` _ mo agesan _ _ g_ asco secimt orsu issue w c are asco securi y, an return to the °€l"i.”°“ °t13“lL'§Zi“i" “" EtZ1~""§i“°°" **1°”° °‘§a.” ‘“..¤°i'“g°*"°" mat b§l‘£‘ owning the same any of said mortgages and bonds which t to be dm ‘“‘“""'"· hqig py hr; ¤¤l;•(<;li(»;»S¤¤r¤1  gba land bank wl1;1$ifi:$e issue san arm an trans er s t, ‘ , in trust, all first mortgages and bonds ghiclxgerz beyhaeild Eylgdlili ' trar as collateral security, said assignment providing for the lg of redemption at an time by payment as provided in this Act and reservrng the right 0; substitution of other mortgages ualiiied D*¤°¤”°¤*’°=°•·· under sections twelve, fifteen, and sixteen of this Act. Sail] mortghages and bonds shall be deposited in such deposit vault or bank as t e Federal Farm Loan Board shall approve, subject to the control of said registrar and in his name as trustee for the bank iss the girliplsloan bonds and for the prospective holders of said farm loan mgiliizaif E W No mortgage shall be accepted by a farm loan registrar from a land bank as part of an offering to secure an issue of farm loan bonds, either crigmally or by substitution, except first mortgages made subject to the conditions prescribed m said sections twelve, fifteen, and S‘*“‘°*°“°’¥ ‘j’ °°*· It shall be the dut of hf I t me mmm loan bonds delivered by? adgd Oifxlltdisglnililsg tcloseriolhgirdglgdfaghld amxllxunihgc collateral security pledged therefor. Such registrar ma , EWS U£1’i°§e.¥Z?Eil$1’“m’m“§2°£§’5” "’“°"h°‘ “°“g“g°S ‘°*"g‘ ·*°dm°““' S°°“»’“Y· The,Federal Farm Loan Board maly,Sal:)ra$f;#S time, call upon any land bank for additional security to protect the bonds issued by it.