The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-11-16
GUARANTEE OF
BANK DEPOSITS
MINORITY PLAN
Republican End of Senate
Banking and Currency
Committee Takes Un-
expected Action.
WEEKS VIOLENTLY
OPPOSES SCHEME
Senator Nelson Doubts Its
Feasibility; Democrats Sub
init Result Of Labors to
Their Colleagues.
BY international News Service,

by International News Service.
WASHINGTON, Nov. l5.-The vote
of Senator Mclean of Connecticut un-
eSpectcdly committed the Republican
factlon of the senate committee on
banking and currency today to a plan
for the guarantee Of national bank de-
posits
By vote of to Q the plan suggest
ed by Senator Bristow of Kansas was
adopted This provides that after the
expenses and taxes Of the regional re-
serve banks have been met, & per
cent dividend to stockholders set aside
and surplus accumulated ND 10 20
per cent Of the capital stock of the re-
serve bank, the remainder Of all net
earnings shall be distributed in this
way:
Threc-fourths to the refunding of 2
per cent bonds now used as security
for natioarl bank circulation and one.
quarter fer the creation of al insureslce
fund from which to iEdemAify deposi-
tors in insolvent national banks.
Opposed by Weeks. ss.,
Senator Weeks of Massachusetts, was
vigorously opposed to tho provision, be-
heviDg that it smacked too much OF
bad banking and was Objectionable
from every point Of view. Senator
Nelson doubted its feasibility. These
two members will submit minority
report on the proposed guarantee and
oppose it in the senate. This PROPOSE
faction but not considered. 1t will be
brought forward in the regular session,
Mt which time 1t is the Democratic pro-
gramme to revise all the national bank
laws.
AT the meeting OF the full committee
today the Democrats submitted tho TO
suits OF their labors to their Repub~
hcan colleagues. The latter said it
would be several days before they
could conclude their deliberations and
the committee adjourned until Tues
day.
Minor Amendment.
Among minor points determined by
the Democrats at the last moment was
a Strengthening of the provision Civ.
ing the federal board absolute power
in fixing the rate OF discount and fix
ing the minimum capital stock Of any
regional bank ut 100000 instead of
$5,OOO,00O as proposed in the house
bill.
The Republicans will continue from
day to day in the hope Of being able
to confer finally with their Democratic
associates no1t Thursday Each day
the final reporting Of the bill is post
poned and tonight it is looked to be
impossible to get into the senate be
fore a week from next Monday. De-
bate in the senate will begin at once.
Discussing the chances for final enact
ment, Senator Weeks snid today;
"I fail to see how II will be pos
sible to pass any currency measure be-
fore Christmas and perhaps before the
middle Of January. Many senators
will desire TO discuss the bill and they
should. No satisfactory bill can pass
the senate, but the one that will go
through will be better than the Glass
bill and worse than the bill congress
ought to pass if it would give the coun-
try a proper banking system
SUFFRAGETTES THROW
HAMMERS AT JUDGE
LONDON, Nov. 15.-Women hurled
hammers at the Judge OF the London
sessions court Mt the Old Bailey today
when he sentenced Miss Rachel Peace
a militant suffrngette, to eighteen
months imprisonment after she had
been found guilty by the jury Of set
ting fire to q mansion at Hampton-on-
the-Thames. October 4, last,
Four of the disturbers were arrested
after hard struggle with the police.
Plunges 10 His Death.
NEW YORK, Nov. l6.-Casper Holle. n
how of IL, plunged flve stories TO his death
tnday IN a daring attempt to escape from
a protectory In the Bronx. He was de-
scending the face OF an outside wall when
he fell.