HEARINGS

BEFORE THE

COMMITTEE ON WAYS AND MEANS

HOUSE OF REPRESENTATIVES

SEVENTY-SIXTH CONGRESS

FIRST SESSION

ON

PROPOSED LEGISLATION RELATING TO

TAX-EXEMPT SECURITIES

160401

JUNE 28, 29, 30, AND JULY 1, 5, AND 11, 1939

Printed for the use of the Committee on Ways and Means

UNITED STATES
GOVERNMENT PRINTING OFFICE

WASHINGTON: 1939

XL1

1151

52 4ST

01/94 53-005-00

CONTENTS

Statement of—
Armstrong, C. E., comptroller and director of finance, Birmingham,
Ala., appearing on behalf of the Alabama League of Municipalities,
on behalf of 140 Alabama cities, and for Gov. Frank M. Dixon...

Baer, Markell C., attorney for the Commissioners of the port of

Oakland, Calif., appearing on behalf of the California League of

Municipalities.

Barnard, Julian W., solicitor of the borough of Norristown, Pa., and
a member of the executive committee of the Pennsylvania State
Association of Boroughs-

Page

202

340

210

Bell, Hon. Golden W., Acting Solicitor General, Department of Justice. 64, 67

Branan, Herbert L., representing Gov. Leon C. Phillips, of Oklahoma;
chairman of the committee on revenue and taxation of the House
of Representatives of Oklahoma, and representing the Oklahoma
Municipal League....

Brewster, Ralph, O., a Representative in Congress from the State of
Maine, on behalf of the attorney general of the State of Maine....
Brush, William W., editor, Water Works Engineering, and formerly
chief engineer of water supply, city of New York..
Bucher, Carroll S., secretary, California State Compensation Fund...
Buck, Lucius A., New York, N. Y., formerly special assistant to the
Attorney General of the United States__

Buehler, Alfred G., economist, University of Vermont, Burlington, Vt.

Carville, E. P., Governor of the State of Nevada. -

Chatters, Carl H., executive director, Municipal Finance Officers'

Association, Chicago, Ill..

Cohen Julius Henry, general counsel, Port of New York Authority...

Costello, Joseph K., general manager of the Delaware River Bridge

(Philadelphia-Camden), general manager, Delaware River Joint

Commission, and representing committee for publicly owned toll

bridges of the American Toll Bridge Association...

Epstein, Hon. Henry, solicitor general of the State of New York.

Farrier, G. Coe, assistant city solicitor, Philadelphia, Pa...

Ferguson, Frank C., chairman of the Port of New York Authority,

presented by Julius Cohen, general counsel for the Port of New

York Authority -

191

261

394

402

434

165

391

154

413

181

364

215

218

Ford, Hon. Thomas F., a Representative in Congress from the State
of California_.

142

Gallaher, E. M., assistant city attorney, Tulsa, Okla..

Gardner, Warner, office of the Solicitor General, Department of
Justice__

265

73

Gregory, L. O., assistant attorney general, representing Attorney
General Harry McMullan, of the State of North Carolina..
Hanes, Hon. John W., Under Secretary of the Treasury_

381

2, 448

Hart, Henry, vice president, First of Michigan Corporation, Detroit,
Mich.

149

Hazard, Thomas P., treasurer of the State of Rhode Island.
Healy, Patrick, Jr., executive secretary of the North Carolina League
of Municipalities, Raleigh, N. C.

Hollowell, Frederick, secretary to Morris S. Tremaine, comptroller of

the State of New York..

Kelley, Raymond J., corporation counsel, city of Detroit, and chair-
man, Special Committee on Tax Immunities of the National Insti-
tute of Law Officers..

Kenworthy, Samuel S., secretary, New Jersey State League of Munici-

palities, appearing on behalf of 344 New Jersey cities represented

in that league, and also as personal representative of Gov. A. Harry

Moore, of New Jersey---

146

335

La Guardia, Fiorello H., mayor, New York, N. Y., and president of
the United States Conference of Mayors---

270

152

211

107