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EDERAI
VOLUME 2

REGISTER
1934

NUMBER 98

A/ITED

Washington, Friday, M a y 21, 1937
DEPARTMENT OF STATE.
N e g o t ia t io n
of
T rade
A greement
W it h
C z e c h o s l o v a k ia
C o ntem plated
M a y 7, 1937.

Pursuant to section 4 of an act of Congress approved June 12, 1934, entitled An Act to Amend the T a riff Act of 1930 , as amended, and Executive Order No. 6750, of June 27, 1934, the Secretary of StafJT announced today that this Government contemplates the negotiation of a trade agree ment with Czechoslovakia, and invited interested persons to. submit suggestions as to the products that should be considered.
This prelim inary announcement, which is made with a view to obtaining suggestions from interested persons in the early stages of the discussions, should not be confused with notice of intention to negotiate. Notice of intention to negotiate w ill be issued at a later date, after receipt of the proposals o f the Government of Czechoslovakia, at which tim e there w ill also be made public a list of products on which the United States w ill consider granting conces sions to Czechoslovakia whether in the form of reductions in import duties or binding o f existing ta riff treatm en t.
Suggestions as to products to be considered in the nego tiations with Czechoslovakia may concern either exports or imports. Exact technical descriptions of the products in question should be given, including, so fa r as possible, their nomenclature in the ta riff laws o f the im porting country.
These suggestions may be submitted in any form , and need not be under oath. They should be addressed to the Chair man of the Committee fo r Reciprocity Inform ation, 7th and P Streets, N. W., Washington, D. C., and should reach the Committee not later than June 6, 1937.
Suggestions received by the Committee fo r Reciprocity Inform ation w ill be distributed prom ptly to a ll agencies of the trade-agreements organization fo r use in the prepara tion of lists of commodities that may be involved in the negotiations. The list of products upon which the United States w ill consider the granting of concessions to Czecho slovakia w ill be published as part of the notice of intention to negotiate. Notice of intention to negotiate, as ha-s been done in the case of other countries, w ill also indicate dates fo r the submission of briefs and applications fo r oral hearings, and the dates on which the customary open hearings w ill be held.
The listing of products w ill indicate to American producers and importers whether or not particular ta riff rates in which they are interested are under consideration. They w ill thus be saved the trouble of preparing briefs on products of interest to them but which are not expected to be involved in the negotiations.
A detailed compilation showing the merchandise involved in the trade between the United States and Czechoslovakia in 1929 and 1935, prepared in the Division of Foreign
Trade Statistics and the Division of Regional Inform ation o f the Department of Commerce, may be obtained from the Bureau of Foreign and Domestic Commerce, or from any of the D istrict Offices of the Department of Commerce, as w ell as from the Committee fo r Reciprocity Inform ation or from the Department of State.
C ordell H u l l ,
Secretary of State.
P . R. Doc. 37-1474; Piled, May 20, 1937; 9:54 a. m.J

FARM CREDIT AD M INISTRATIO N.
P C A 41
P r o d u c t io n
C r e d it
C o r p o r a t io n
of
S pokane
CLASS A STOCK CONVERSION

T o all production credit associations in the states of Oregon, Washington, Montana and Idaho:
Conversion of Class A to Class B stock by Holder. Your attention is invited to Section 26 d o f the bylaws adopted by the production credit associations of this district, and to the first paragraph of Section 104 j 1 of the Rules and Regulations fo r Production Credit Associations, both sec tions reading as follow s:
Class A Stock. Upon tlie authorization of a loan to a holder of class A stock, the board of directors may permit the conversion of any or all such class A stock at the fair book value thereof not to exceed par into class B stock in accordance with such terms and conditions as may be prescribed by the corporation so long as it is the holder of any stock of the association.

Instances have been brought to our attention where Class A stockholders have been perm itted to convert their class A
stockholdings into Class B stock at the tim e of obtaining a loan although the borrower did not require the fu ll amount of the Class B stock so held after the conversion in connec tion with his loan. As the corporation is required to pre scribe such terms and conditions under which this type of conversion is effected, the conversion of class A stock into class B stock should be lim ited to the amount necessary to enable the holder to obtain sufficient class B stock fo r his loan.
There may be cases, of course, in which proper compliance with this principle would result in the ownership by the stockholder borrower of, for example, only one or a frac tional share of class A stock and in instances of this kind it is permissible to allow the conversion o f the fu ll amount o f his class A stockholdings.
Transfer of Class A Stock to Individual Desiring to Become Borrower. In instances where a class A stockholder ar ranges to sell and transfer his stock to another individual who intends to convert it into class B stock for use in 1033