The Lynden tribune. [volume] (Lynden, Wash.) 1908-current, 1914-01-01
NEWS FROM OUR
NATIONAL CAPITAL
Secretaries Of Treasury and
Agriculture Are Perfecting
Bank Plans.

Washington.-Secret McAdoo
and Houston of the organization COM
mittee have taken the first official
steps to start the machinery Of the
Glass-Owen act.
In a resolution adopted by the or.
ganization committee, 1t was provided
that every national bank which ac-
cepts or rejects the provisions of the
federal reserve act shall file a report
of such action within sixty day. In
tention to subscribe to the capital
stock of federal reserve banks must
at the same time be declared. Under
the law these reports must be fled
on or before February %.
From January to March l, Secre-
taries McAdoo and Houston will de-
vote much of their time with hearings
and Investigations relative to the des-
ignation of federal reserve cities and
districts.
Cities to be visited are New York.
Chicago, Denver. st. Louis. Portland,
San Francisco. Houston, New Orleans,
Atlanta, Cincinnati and Cleveland.
BY April 1 the work of organization
will be completed and the federal re-
serve board will be ready to take up
the work where the organization COM
mittee leaves off. 1t is planned to
have all essentials completed SO that
the system may be started as soon
as the reserve cities and districts are
Trust Revision to Be Short Work.
Congressman prospectively viewing
the new year declared that the addi-
tiOnal legislation to make the Sher-
man law more effective will not alb
sorb as much of congress- time as an
ticipated. President Wilson's atti-
tude. as they have gathered from talks
with him, is that business, needing ad-
justment from the tariff and currency
Is not now in position to
slashing attack. 1t Is not
q period 0f depression. they say, 1t Is
merely one of transition.
The presidents program is for pas
sage of q law making guilt personal
in trust cases-possibly prison sen.
tences, instead Of the wide latitude of
fines now discretionary with judges
under the Sherman law--and prohtbi-
tion against interlocking directorates.
There will also be a law exactly de-
filming a trust, and serving notice on
big business just how far 1t can go.
Beef Inquiry Planned.
Secretary of Agriculture Houston
has announced the appointment Of a
special committee of experts to con-
duct an inquiry into the present un-
meat production condi.
tions In the United States. The an
by the secretary pre-.
scribes that the committee will inves-
tigate especially in reference to beef,
with a view to suggesting possible
methods for improvement"
The work of the committee, 1t is
said. will center largely on the study
Of economic questions involved In the
transportation, slaughter
and marketing of meat.
Railroads Asked for Information.
A series of interrogatories was ad-
dressed by the interstate commerce
to the railroads Of eastern
territory in relation to
a petition of the roads for an advance
of s per cent in their freight rates.
The inquiries are designed to develop
such facts concerning the physical
and financial operations of the roads
as heretofore have not been submitted
to the commission.
Among other things it is desired
to determine to what extent conflict
ing and INTERVENING interests COM
monty described as interlocking di-
prevail" the announcement
said, land what influence, II any, this
practice has had In increased railroad
COSTS"
National Capital erevities.
The quarantine on potatoes has
been continued by Secretary Houston.
The ban affects Canada, the British
Isles and all continental Europe.
Third Assistant Postmaster General
Dockery says that the people should
manifest more interest in postal saw
ings banks.
One thousand democratic women
every state in the Union,
will gather in Washington from Janu-
ary s to 8, to attend the annual meet