Page:United States Statutes at Large Volume 48 Part 1.djvu/284

 258 73d CONGRESS. SESS. I. CH. 98. JUNE 16, 1933. Initia l capit al, su b- needs. Such capital stock shall be divided into shares of $100 each. scribed and held by govern or, as a gent. The initial capital stock of each such corporation shall be $7,500,000, Payments made which shall be subscribed for by the governor and held by him on to be out of the revolving behalf of the United States. Payments on subscriptions to stock fund. by the governor shall be subject to call in whole or in part by the board of directors of the corporation with the approval of the governor. The governor shall make such payments out of the revolving fund created in section 5. The stock ownership of the United States in such corporation shall be evidenced by such means as the governor shall determine. RE VOLVING FUN D AND APPRO PRIATION Revolving fund cre- SEC. 5 . (a) There is hereby created a revolving fund of not to ated. Post, p. 348. exceed $120, 000,00 0 whic h shal l be m ade up as fol lows Availa ble bal ances of (1) The Reconstruction Finance Corporation is authorized and designated funds to so constitute, etc. directed to make available to the Governor of the Farm Credit Post, p. 276. Administration all unobligated balances of the following funds and all sums heretofore returned or released to the corporation from such funds : Crop, etc ., loan . (A) Any balances of funds for, and all collections on loans Vol.47,p.5. by, the Secretary of Agriculture pursuant to section 2 of the Reconstruction Finance Corporation Act as amended ; Collections on farm (B) All collections on loans made or to be made pursuant to loans .47,p.795. the Act of February 4, 1933 (Public, Numbered 327, Seventy- second Congress) ; ` Balances. (C) All balances of funds authorized and directed to be made available to the Secretary of Agriculture by such Act and not used for loans pursuant thereto ; and Advances, stock or (D) Any ba lances of th e fund s orig inally direct ed to be all o- cep pte dpr odu cti on ex- cated and made available to the Secretary of Agriculture by Vol.47,p.713. such Acts except as expended pursuant to subsection (e) of section 201 of the Emergency Relief and Construction Act of tinob ligat ed bal - 1932 . ances of sums made (2) There are hereby made available to the Governor of the Farm available by desig- hated Acts. Cred it A dmini strat ion all u nobli gated bal ances of a ppro priat ions and funds available thereunder to enable the Secretary of Agricul- ture to make advances or loans under the following Acts and resolu- tions, and all repayments of such advances and loans : March 3, 1921 (41 Stat. 1347), March 20, 1922 (42 Stat . 467), April 26, 1924 (43 Stat. 110), February 28, 1927 (44 Stat . 1251), February 25, 1929 (45 Stat . 1306), as amended May 17, 1929 (46 Stat . 3), March 3, 1930 (46 Stat . 78, 79), December 20, 1930 (46 Stat . 1032), as amended February 14, 1931 (46 Stat . 1160), and February 23, 1931 (46 Stat . Post, p . 348 . 1276), and Public Resolution Numbered 11, Seventy-second Congress, Vol.47,p.60. approved March 3, 1932. Additional authori. (3) There is hereby authorized to be appropriated the sum of aationti. $40,000,000 out of any money in the Treasury not otherwise appropriated. Sums for administra- (b) There is hereby authorized to be appropriated the sum of tive e xpenses. Post, p. 276 . $2,000,000, which shall remain available until expended, for all neces- sary administrative expenses in connection with the establishment and supervision of the Production Credit Corporations and the Production Credit Associations. rias use not or fun ds for . sale- (c) The authority of the Governor of the Farm Credit Adminis- tration to allocate and expend out of the funds covered by subsection (a) of this section such amounts as he shall deem necessary for sal- aries, expenses, and all other administrative expenditures in the execution of the functions for which such funds have hitherto been available shall not be deemed to be restricted by this section.