The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-02-16
THE HOUSE.
Bill Ia Regulate Loans to Bank
Attnch cs-The HnnlsrmptCN Dill.

Attachcs--The Bnnkruptcy Bili.
Washington, February 15.-The house put
In busy day. The time was devoted to
the consideration of bills and joint resolu-
lions presented under The call of commit
tees and sixteen of more or less public i'm
portance were passed. An order was also
entered by unanimous consent for the con-
sideration of the Loud bill relating to sec
ond-cass mail matter on March !, and 3,
and the order for the consideration OF the
bankruptcy bill which begins tomorrow
was modified so the final vote shall be
taken on Saturday instead OF Monday as ar
ranged last week.
Washington, February 15.--In the house
today Mr.. Cooney Dem.. MOI, rising TO
question of privilege. called attention to the
fact that a resolution of Inquiry introduced
by him December IA, calling upon the Sec
rotary of the treasury for the statement
and accounting of the receiver of the First
National bank of Sedalia, Mo, which was
referred 10 the banking and currency com
mittoe, had not been reported back. I'm
der the rules resolution OF inquiry not
reported within seven days is privileged.
After an explanation by Mir. Johnson
tRep., Ind) on behalf OF the subcommittee
of the banking and currency committee,
who said action upon the resolution had
been delayed by peculiar circumstances and
that he thought that the subcommittee
would report on the resolution tomorrow,
Mr.. Cooney Withdrew a motion he had en-
tered to discharge the committee.
Mr. Payne (Rep., n. ID chairman Of the
committee on merchant marine. called up
the senate bill to amend the navigation
laws of the United States,
MIR. Payne explained that the bill had
been prepared by the treasury department
and was destined solely TO protect our sea-
coast trade along the Pacific coast with
Alaska
Mr.. Torrey CDem., Arls) said the bill had
much broader scope than appeared at
first. 1t related to the entire coastwise |
trade OF the United States He believed |
that this trade belonged to the United |
States. our shipping laws were all anti /
quated, but there should be a general re-
vision not special laws. Special laws in |
his opinion, simply fcstered the shipping |
trust AS long as American owners were
unable to place the American flag over q
foreign built vessel he was opposed to such
bills as the pending measure.
Mr. Dingley said the pending bill was de-
signed to carry out the traditional policy |
OF the government of restricting our coast
wise carrying trade to American vessels.
The bill was passed without division.
The committees were then called.
Mr. Updegraff tRep., Iowa. from the
committee on judiciary called up a bill to
amend the act OF 1887 relating to the fees
Of United States officers so as TO correct
some existing abuses, and it was passed.
Mr.. Cox (Dem., Tenn from the com
mittee on banking and currency, called
up bill TO better control and to promote
The safety Of National banks
The bill provided that no National bank
shall make loan to the president or any
officer or employee OF the hank until such
officer or employee has submitted the prop
,siiion for the loan in writing to the d-
'ectors and 1t has been approved bv a
majority of them and in no case shall the
can exceed the amount permitted by law.
The report of the comptroller. alr. Cox
aid, showed that 30 per cent OF the fail
res o. National banks We're due to The
absorption OF the. banks funds BY its
'nicers similar bill had twice passed
ne mouse and mad once passed the senate
it'll an amendment. The bill was passel.
considerable discussion arose over
committee amendment striking out the
word directors" The directors as well
Is the ohlcers were subject to the restric-
IONS OF the measure in It's original form,
'ui me committee recommended that dl-
ectors be stricken out
ar. Johnson tRep., lnd.). Mr. Cox, Mr..
,itNserdiu tpem.. Mass) and others
hought the directors of n bank in re-
ara 10 overdrafts should be on the same
rs was retained in the bill and ii was
asseu % 10 ~.