The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1921-05-11
'DEFEATHUGHES
AMENDMENT ON
GRAIN FUTURES
La11tz and Do.unstafe
FOLLOWERS Score
Victory.

OSuAtOf 16utZ O0Q nW 0OWnSt210
following on the grain exchange |
bills won another victory in the
senate today when, after hours Of
debate they defeated Minority Lead
er Hughes proposed amendment to
the futures trading bill The vote
was rs to %. Senator'S Hicks of
Winnebago. Meents Of Iroquois,
Swift Of Lake and Turnbaugh Of
Carroll, voted with 10 Cook county
senators for the amendment.
Senator Lantz' following immedi-
ately killed another amendment by
Senator Cornwell to permit 'hedg-
ing. The vote was II to 10.
A few minutes later Senator Bar
bour's amendment to let down the
bars on future trading in recog-
nized contract markets" was de-
feated by a vote Of Is to u. The
bill then went to third reading.
The fight over the future trading
bill began this morning when Sen
ator Hughes offered his amendment
virtually changing the whole aspect
OF the measure. The amendment
struck out everything after the en-
acting clause and put regulation
OF grain exchanges under author
ity of the federal department OF
agriculture
The amendment imposed tax od
20 cents a bushel on every bushel
of grain involved in trades on fu.
lures except trades made by own.
ers Of grain actually in existenct
or brokers trading in "contrac
markets" recognized and designat
ed by the secretary Of agriculture
| Springfield, ILL.,, May 1l.-Chair
man Young and the house revenu
committee, after long night ses
sion, were ready this morning u
prepare part Of their batch OF IA;
bills for presentation to the HOUSE
Chicago tax bills occupied most q
the time of the long drawn on
meeting. Members of the Chica:
, city council presented their reques
for an Increase in the CORPORAL
, tax rate from $1.43 1-3 to $1.8s.
ii Following the Chicago aldefme
were members of the West Par
board with their request for a mil
imum rate of 20 cents and they
turn were followed by members
the county board.
An additional rate Of Al % cen
is needed, the Chicago alderme
said, to make up the difference b.
|, tween the 1920 appropriation ar
!. the estimated revenue for 192
- Estimated expenditures were 81
:, down \. $37 ,54S.4S. This. Il
:, city council delegation said, is 81
u y 500, 1000 short of the revenue In sig
under tie old rate.
III Appearing before the commit
y of the finance committee. Lyle, G
i of the finance committee, Lyle @
son, Agnew and Burns, and Lou
- Goslyn, deputy comptroller.
- In opposing the $1.S5 rate Harr
- Keeler of the bureau of public {
IS ficiency declared that rate of 81.
II is sufficient on the basis of t
councils own statement Of
needs.
Legislation supported and oppo
ed by organized labor had its FIJI
Inning before senate and hou
committees last night and Will no
\ the center of the stage Of Col
Y mittee hearings late today. T
~ senate committee on corporate
and industrial affairs, after repoI
ing out Representative Dev1n'
bill subtccting corporations to t
~ usury laws when they borrt
money, resumed its hearings on t
women's 8-hour bill which Ser
tor Kessiager, chairman OF the CO..
mittee. said will likely be act
upon tonight
III A compromise was in sight Il
a morning, committee members sa
on on the child labor law to increa
Ae the minimum age Of children e
Oh ployed in industry to Is years. I
Sc Wilson bill which was support
y: before the committee by Jane 4
d. dams of Hull House, Chicago,
n creases the minimum age from
y to 16.
le Representative Clark's bill p
al viding for one day Of rest es
re week for employees in all lines
commercial and Industrial activ
was reported out by the ho'
ge committee ON industrial affairs.
tes --------