The evening times., 1913-12-22
CONFEREES AGREE !.
On ALL FEATURL )
Guarantee of Deposits Are
Stricken Out and May
Cause Some Trouble
COMPTROLLER TO
BE ON THE BOARD
Administrations Determination That
He be Recognized Wins-Rules set
Aside that Measure May he Finally
Passed During the Day.

Washington, Dec. 22-.Altl,oush
administration leaders in congress
bent every effort for a speedy ap-
proval OF the currency bill. that
1t might be hurried to the White
House for Wilson's signature. a
series of delays hampered it's pro-
gress. Printed copies Of the con-
ference report were late from the
printers. and tho parliamentary
situation in both houses seemed to
favor delay. Despite the delay, tho
leaders hope the bill will be well
out of the way in time for the
president to leave for Nlississippi
tomorrow.
Washington, Dec. 22.-The adM:u.
istration currency bill, in Its mat
form, was reported to both houses OF
congress today to be written into law.
Members OF the conference committee.
which labOred until dawn this morn.
ing threshtng out the differences be-
tween the two houses, presented a
perfected measure which followed
closely the lines laid down by Presi-
dent Wilson.
The general desire among the leg.
islators to get away from Washington
for the holidays resulted in a program
calculated by the democratic leaders
to place the bill before President VIII.
son Tor signature tonight, and clear
the way for an immediate recess.
In the house the procedure called
Tor the setting aside Of the rules 90
that the conference report would not
oe required to lay over one day.
tho xh1
e,ss' 9 ;.", smooth Il ct tbs way of ahstaeias,
by supporters Of the; provision Tor az
surance bank deposits, which was
stricken out OF the bill in conference.
The conferees agreed on practically
all fundamentals of the measure as
passed by the senat, including the
provision that not less than eight nor
more than twelve regional banks
should be created. The reserve re-
quiremnts for banks ntering the sys.
tenn. which had been slightly let
down by the senate. was strengthened
in conference. The amendment al
lowing the use of the present bank
notes and proposed new federal re.
serve nots in the bank reserves. was
stricken out.
The last long drawn out struggle Of
the conference resulted from the adj
ministration determination that the
comptroller should be given a place
on the federal reserve board which
will control the new system. The
senate conferees were evenly divided
on this proposition, three senators
joining with the house members in
supporting the administration, Just at
daybreak. when a single shifting vote
brought the conference to close.
Among the other important dccis.
ions of the committee today were tho
following:
The minimum capital stock Of each
regional reserve bank was fixed at
S4,000,O00, compromise between the
$3,00O,OO0 minimum of the senate bill
and the $5,000,000 minimum Of the
house bill.
The senate's provision that each
member bank" must subscribe for
stock Of the regional bank in it's ter
ritory equal to iN per cent of the
member-bank's capital and surplus,
was accepted by the house to replace
it's own provision that the subscrip-
ton must equal five per cent Of the
member banks capital.
The senate gave way on its provi-
sion that no "class b. director Of u
regional bank could be a stockholder
in any member-bank. This would
permit the three directors who repre-.
sent agricultural, commercial or in
dustrial" interests in the directorate
Of each regional reserve bank, to own
stock in local banks in their district.