The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1908-03-28
THE TIMES DspATcH RICHMOND SATURDAY. MARCH

Michigan; smoot, Stephenson, suther-
land Teller tDem.), Warner, Warren
and wetmore. Total. AZ.
Nays--Bankhead. Borah tRep),
Boune Rep.), Brown tRep), Culber-
son. Frazier Gary Gore. Hepburn
Gep), La Toilette (Rep). McCreary.
McEnery, Mctaurin. Overman, pnyn-
ter and Taylor. TotN. is.
Important Amendments.
Following is the tex. Of important
amendments to tho bill which was
adopted to-day:
BY Senator Johnston, OF Alabama:
That after January 1. 1908. national
banking associations located outside Of
reserve cities, whic are now required
by law to keep n reserve equal to Is
per cent Of their deposit liabilities
shall hereafter hold In their own vaults
four-ffths OF such reserves, either in
lawful money. ms now required by law
or In the securities enumerated in sec
ton of this act which shall have hcen
approved by the Secretary OF the Treas
ury; provided. however, that not more
than one-third OF the reserves required
to be kept In the vaults Of such ASSOC
Citations shall be held In such securi-
ties.
BY Senator Allison: Provided. that the
aVppoIto biuST Lliis sC't'ol W TellTe
notes secured by the deposit OF bonds
other than bonds OF the United States
shall no. be covered into the treao-
ury. as required by section OF nm act
entitled "An act directing the purchase
OF silver bullion. ETC." approved July
IA. 1890, but shall be retained In tho
treasury for the purpose of redeemlng
the notes OF the banks making such
deposits.
Pcnitcntiary Offcnse.
BY Senator La Toilette: No national
banking association shall invest any
of It's funds or deposits in the stocks
or the securities OF any corporation or
any association. the officers or d.
roctors OF which are officers or d.
rectors of such banking association.
Any officer or director of any national
banking association who knowingly
violates or consents to the violation
OF the foregoing provision shall be
deemed guilty OF misdemeanor and
shall. upon conviction thereof in any
circuit court or district court OF the
United States. bs imprisoned not less
than one year and not more than five
years:
BY Senator La Toilette. It shall be
the duty of the Comptroller of the Cur
reucy to cause such reports of notes
In circulation to be verified by ex-
animation OF the banks records and
any officer of any banking associa-
ton falsely reporting the amount OF
its notes in circulation shall upon con-
viction thereof in any circuit or dis
trict court of the United States be pun
ished by fine OF not less than 81 900
nor more than $1,000 or by imprison-
ment for not less than one year and
not more than five years or by both
such fine and Imprisonment.
Cannon Is Silent.
Republican leaders In the House
were very reticent to-day about pre-
dieting the course of the Aldrich bill
In that branch of Congress- Speaker
Cannon RETAINED from making any
comment. and some OF the chiefs of
the majority were equally silent.
Enough was gathered. however. to
justify the prediction with reasonable
certainty that when the bill goes to
the House from the Senate it will be
referred to the Committee on Banking
and Currency.
Democrats for Williams Bill.
WASHINGTON. D. c., March Eft
Is generally conceded that the action
Of the Senate in refusing to adopt the
amendment offered by Mr.. Nelson to
provide for Federal guarantee of ma
tiona! bank deposits will make it easier
to pass the Aldrich bill in the House
whore little friendliness toward that
feature has developed. Some weeks
ago Speaker Cannon expressed him
self as generally favorable to the
measure. Inquiries on the Democratic
side to-day showed general under
standing that the minority will hold
pretty fast to Its agreement to support
the currency bill introduced by Its
loader, Mr.. John Sharp Williams. This
Dill was reported favorably to the
House by the Democratic members of
the banking and Currency Committee
as substitute for the Fowler bill.