The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1913-12-20

Give balance to commercial and fua0-
cial condition., the senate named its
conference committee. which win
work with = house committee to COM
pose the differences between the two
bills. The MEMBER are Senators
Owen, O'GormAn, Reed, Pomerene,
Shafroth and Hollis. Democrats, and
Nelson. Bristow and Crawford, Re-
publicans. Members Of the house
conference COMMITTEES already deter
mined upon are Representatives Glass
and Korbly. Democrats. and Repre-
sentative Hayes CALI. Republican.
EARLY Agreement Expected.
The house will name its conference
committee today. Many OF the CHIEF
points Of difference have already been
gone over between currency leaders
Of the two houses, in conferences with
Secretary McAdoo Of the treasury de-
partment. and 1t IN believed but 4
short time viii be required to reach
a compromise.
Senator LaFollette proposed two
amendments just before the bill came
to q vote. which caused Z mild sensa-
ton.
One Of them was written into tho
bill and the other rejected by IN over
whelming majority.
The first provided that mo United
States senator or representative In
congress shall be a member Of the fed
era1 reserve board a director in fed
eral reserve bank or an officer or de
rector Of any member banks.'
This amendment was adopted with
out q roll call. The second amend
ment provided that no member Of tho
director OF regional or member
bank should be . director or officer Of
any other bank. trust company or in
surance company.
Senator Hitchcock announced his
purpose to vote for the senate bill a.
finally completed, because Of its great
importance to the financial world.
Senator Weeks said he would vote
Tor the measure because it was cts
per cent good and only IS per cent
bad" and an improvement over exist
ing conditions.
The house adjourned to 10 o'clock
this morning instead Of noon as usual,
SO a. to formally reject the senate
amendments to the bill and pave the
way for immediate action by the SEN
ate when that body convenes at noon.
The conferees Of the two houses prob
ABLY Will be at work within few min-
utes after the senate meets.
Bankers Ready to Accept It.
New York. Dec. 20.-Passage Of the
currency bill in Washington, finds the
local banking community, which was
none 100 kindly disposed toward the
measure, in its insipient stages, more
or less ready to accept the salient
features of the bill. Changes which
the new law must inevitably bring
have been taken note Of recently and
1t Is not thought any national bank. Of
Importance. will carry out the threat
90 often heard Z few weeks ago, to
relinquish its federal charter and OPP
crate under . state charter instead. In
fact. the president OF a large Wall
street bank said today, that all of the
80 National banks Of this city could
be depended on to enter the new bank
ing system. as soon as the law took
effect
Az the currency bill. in its latest
form. has overcome many of the OBJ
jections voiced by prominent finan-
ciers. it seemed to be the opinion in
financial quarters today that the
privileges the nationally chartered in
stitutions would retain together with
the prestige considered to attach to
national institutions. would outweigh
with most OF them any remaining OBJ
jections they might have to the new
law. Moreover. were national banks
to yield their charters, they would
have to return to the government the
reserve moneys now held by them and
retire their circulation against their
holdings of government bonds.