SALE OF FOREIGN BONDS OR SECURITIES
IN THE UNITED STATES

HEARINGS

BEFORE THE

COMMITTEE ON FINANCE
UNITED STATES SENATE

SEVENTY-SECOND CONGRESS

FIRST SESSION

PURSUANT TO

S. Res. 19

A RESOLUTION AUTHORIZING THE FINANCE COMMITTEE
OF THE SENATE TO INVESTIGATE THE SALE, FLOTA-
TION, AND ALLOCATION BY BANKS, BANKING
INSTITUTIONS, CORPORATIONS, OR INDIVID-
UALS OF FOREIGN BONDS OR SECURI-
TIES IN THE UNITED STATES

ᏢᎪᎡᎢ 1

DECEMBER 18, 19, and 21, 1931

Printed for the use of the Committee on Finance

UNITED STATES
GOVERNMENT PRINTING OFFICE

WASHINGTON: 1931

CONTENTS

Testimony of-

Otto H. Kahn, member of the banking house of Kuhn, Loeb & Co.,

New York, N. Y...-----

Thomas W. Lamont, of J. P. Morgan & Co-

Charles E. Mitchell, chairman National City Bank..