Page:United States Statutes at Large Volume 50 Part 1.djvu/30

 75TH CONGRESS, 1sT S ESSIO N-CHS. 6,7-JANUARY 26,2 9, 1937 5 Be it enacted by the Senate and House of Representatives o f the United States o f America in Congress assembled, That notw ith- standing any other provision of law, until the close of business on Jun e 30, 1 939, th e Recon structi on Fina nce Cor pjorat ion is hereby authorized to continue to perform all functions which it is authorized to perform under law, and the liquidation and winding up of the Corporation's affairs as provided for by section 13 of the Reconstruc- tion Finance Corporation Act, as amended, are hereby postponed during the period that functions of the Corporation are continued pursuant to this Act : Provided, That in order to facilitate the with- drawal of the credit activities of the Corporation when from time to time during such period the President finds, upon a report of the Board of Directors of the Corporation or otherwise, that credit for any class of borrowers to which the Corporation is authorized to lend is sufficiently available from private sources to meet legitimate demands upon fair terms and rates, the President may authorize the directors t o suspend the exerci se by the Corporatio n of any s uch lendin g authorit y for such time or t imes as he may deem a dvisable. SEC. 2. (a) Section 7 of the Act approved January 31, 1935 (Public, Numbered 1, Seventy-fourth Congress), is hereby amended by strik- ing from the fi rst senten ce thereof "April 1, 1937" and inserting in lieu thereof "the close of business on June 30, 1939" ; section 1 of the Act approved March 31, 1936 (Public, Numbered 484, Seventy- fourth Congress), is hereby amended by striking from the first sentence thereof "February 1, 1937" and inserting in lieu thereof "the close of business on June 30, 1939" ; section 9 of the Act approved January 31, 1935 (Public, Numbered 1, Seventy-fourth Congress), is hereby amended by striking from the first sentence thereof "June 16, 1937" and inserting in lieu thereof "the close of business on June 30, 1939". (b) The agencies referred to in the Acts referred to in subdivision (a) of this section, and the RFC Mortgage Company, shall be deemed to be established by or pursuant to law within the meaning of section 7 (a) of the First Deficiency Appropriation Act, fiscal year 1936. Approved, January 26, 1937. R eco nstr uct ion Fi- nance Corporation. Authority to func- tion continued. Liquidation, etc ., .postponed. 47 Stat. 10 . 15t'.S.C.ga13. Proviso. Temporary suspen- sion of lending au- thority. Designated agencies continued. 49 Stat.4. -Post, pp. 347, .U8. 49 Stat. 1186. Incurring obliga. tions after June 30, 1937 . 49 Stat. 1647. [CHAPTER 71 AN ACT January 29, 1937 To provide for loans to farmers for crop production and harvesting during the 	[H. R .15451 year 1937, and for other purposes. [Publ ic, No. 3] Be it enacted by the Senate and House of Representatives of the Uni ted States o f Ameri ca in Cong ress assem bled, That the Governor Loa ns to far mers for crop production, etc ., of the Farm Credit Administration, hereinafter in this Act referred during 1937. to a s the Gover nor, is he reby autho rized to m ake loans to farmers in the United States (including Hawaii and Puerto Rico), for fallow- ing, for planting, for cultivation, for production of crops, for har- vesting of crops, for supplies incident and necessary to such produc- tion or harvesting, and for feed for livestock, or for any of such purposes. Such loans shall be made and collected through such agencies, upon such terms and conditions, and subject to such regu lations, as the Gover nor may pr escribe. [CHAPTER 6] AN ACT To continue t he functions of the Rec onstruction Finance Corp oration, and for January 26, 1937 [S .4151 other purposes. [Publ ic, No. 2]