The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-04-17
HOUSE PASSES BANK BILL.
1T EXTENDS LIMIT or LOAN TO
ONE individual
II Also Passes the Free Alcohol bill aud
the Bill Extending TO Jan. 10 1909,
the Taking Eject in the Philippines or
Laws Regulating the COastwise Trade.

the Bill Extending TO Jan. I'D, bbVB'
the Taking Erect in the Philippines OF
Laws Regulating the COastwise Trade.
WASHINGTON, April 18.-Under suspen-
sion OF the rules in the House OF Repre-
sentatives o-day the bill was passed amend
ing the National Banking law 70 az to per-
miGbanks to lend 10 one individual or cor
Eoration an amount equal 10 10 per cent
OF the surplus OF the bank as well as III per
cent. OF the capital stock, the total sum thus
| loaned, however. to be in no case In excess
of 20 per cent. OF the capital stock.
Advocating the passage OF the bill Mr.
Shartel Rep., Mo- said that the measure
in principle had been recommended oy
every Comptroller OF the Currency TOT
many years and was desired by banks
business men. The passage OF the bill ne
said, would increase the loanable capital
OF national banks by about SO l-s per cent.
Mr.. Gillespie Dem. Tex, opposed the
bill on the grounds that its tendency was
to restrict the number Of persons to whom
the banks would lend money, hal IT was
| intended to reduce the cost OF admlnistra-
ton Of the banks and that no specific pen
atty for violating the law was provided In
tho bill.
The bill was passed by a vote OF 1893 to T.
Mr.. MoKinlay Rep., Cali asked unani-
nous consent, which was granted. for the
consideration of a bill providing for the
storage of surplus water from Sacramento
River for irrigation purposes, and 1t passed
without objection. .
The bill to permit the withdrawal. free OF
tax, Of alcohol rendered unfit for beverage
or LIQUID medicinal purposes by the use OF
q denatuhzing agent was called up and
consigned under a motion OF Mr.. Payne OF
New York to suspend the rules for It's
passage.
Mr.. Payne explained the purpose OF the
bill to be to introduce into manufacture
and a. a source of light, heat and power
alcohol free OF tax. Every nation, ne sald'
which taxed alcohol spirits gave Tree
alcohol TO the arts, sciences manu-
was estimated hat fifty million gallons.
would be denaturized in the first year OK
the operation Of the blu, and this, Mr..
Payne said, would require s,Ooo'oo gailohs
Of wood alcohol. -
The bill was opposed by Mr.. Young
OF Michigan, He said the unanimity with
which the bill was supported, in ms OPINION
was but a measure OF the misintorInatlon'
false hopes and Astounding optimism when
prevail not only in the House but thTousn-
out the country on the subject ne PEI
lieved it would destroy the wood alcohol
industry. and he protested against its
rassage, az threatening the existence OF
$2oyO6,o0o Of capital in his own district.
The bill was passed, POI to I. ~,
The bill to extend from June 30 next untll
January 10, 1909. the taking effect IN the
Philippine Islands Of the laws regulating
the coastwise trade, which was reported py
MIR. Crumpacker Of lndiana from the 'om-
mittee on Insular Affairs about u week
ago, was passed II to 2l7' A.
In a c%olloquial controversy, with hr:
Cooper a. to the constitutional status OF
the Philippine Islands Mr.. Littleheid OF
Maine, amid laughter. spoke OF the IN
coherent and inconsistent majority OF one
by which the Supreme Court decldeu tnat
the islands belonged to but we're not d part
Of the United States. ~
Mr.. CrImpacker said il was time that the
United States began to treat the Philippine
Islands with some regard for, the interest,"
Of their people. He reiterated Mr.. Coopers
assertion that il was cruel to MAINTAIN a 70
and then impose the coastwise laws on the
islands. That would be simply to crush their
commerce.
Other bills passed we're: To authorize the
c~onst ruction OF dams across ROCK hlVeT,
Ill, TO develop water power for Rock island
a%ppropriating $500 600 for the Improvement
OF the mouth Of Columbia River; amend,
ing the law regulating the ISSUANCE ana
protection Of trade marks, changing tne
practioe in the Patent Office in relation
thereto, by directing the Commissioner
of Patents to make classes of merchandise
upon which trade marks nay be issued.
At 6l5 the House took a recess unit
1l:So tomorrow, at which time the ma
tiopal quarantine bill will be taken up
under suspension of the rules, Upon this
action a question long mooted was definitely
decided by Speaker Cannon-"What con-
stitutes the House, He construed It "a
he the total Of the members, aside from
those who had not been sworn in, not re,
signed nor died nor service terminated
by the House. In this case this number is
ISL, of which 1el is a quorum.