The Birmingham age-herald., 1922-01-24
By Associated Press

DE kAASoClhNau EESbN
 Washington, January 23.-Ohair- man McFadden of the House banking Snd currency committee today intrO- duced bill which he declared was designed to "dispose of the fight be- tween country banks and the federal reserve banks pertaining to par col- lection of checks"
 The measure provfdes that a bank, not member of the federal reserve service, may elect whether 1t will make an exchange charge when re- hitting for checks drawn upon it, but if the bank decides to do so, 1t will be required to pay a similar charge for the service rendered by the federal reserve banks in the cOl- IectionFO such checks.
 No member banks which are not re- hitting or paying to the federal re- serve banks at par are obtaining the full benefit of the federal reserve check clearing facilities, Mir McFad- den snid. by sending checks deposited with them to correspondent member banks which In turn clear the checks at par through the federal reserve banks.
 Washington, January 23.--sale of
 
 certificates of the Chesapeake and Ohio railroad, to the Guaranty com pany of New York, was announced today by Director General of Rail- roads Davis. This sale according to Eugene Meyer, managing director of the war finance corporation, com- prised tyvo-thirds of all maturities of these equipment trust issues, the gov- ernment holding the balance of One- third in accordance with the new plan announced last week for the stimulation of the sale Of such cb- legations through the government as- suming second mortgage of one- third of the remaining issues of car trust certificates held unsoId.
 Washington, January 23.--Meetings between cotton and flour shippers of the south to be held in New Orleans on January 25 and 26 were announced today by William J. Love, vice pres tdent of the Shipping Board Elmer gency Fleet corporation. William E. Keene, manager of the traffic de- parfment will represent the fleet cor poration at the conference. All of the Gulf operators of government ships also will attend, it was said, while numerous representatives of the flour and cotton interests will he on hand to discuss shipping ques- tions.
 Washington. January 23.-Since the congressional appropriation of $2O,- 600, 900 for Russian famine relief was passed IF food cargoes consisting Of 5000, ,0OO bushels of grain have been shipped from this country, Secretary Hoover said today. He, added that IS more vessels now arc loading which will sail within three to IF days, car- rying a total of more than 3,000,0OO bushels of grain.
 Washington, January 23.-Passport restrictions for Americans entering Mexico and Mexicans entering this country from Mexico Will he abolished February 1 under executive orders signed by President Harding and by President 0bregon, 1t was learned to- day at the state department.
 Washington, January 23.-SurDius properties of the war department ap- proximating S2o,O00,0O0 worth of ma terinIs will be sold mt n series of auctions in different sections of the country during February. schedule of the sales made public today shows that the materials consist of cloth | 1n&f ttGtIttSs ACathtHA "RN harness, machinery, engineering ma- teriaIs, foodstuffs and raw materials.
 Washington, January 23.--The long deferred allied debt refunding bill was taken up today by the Senate with prospects, of a sharp fight cen- tering largely around democratic proposal that interest on the refunded bonds be paid semi-annually and that the rate be not less than per cent.
 Washington, January 23-Thc President today sent to the Senate the nomination of Nippon Ward of North Carolina to be United States marshal for the eastern district of North Carolina.
 Washington, January 23.-The fed- eral grand jury today began an i'm cuiry into the transactions> Charles w. Morse, New York shipbuilder and others, with the shipping bOard' Morse is under bond of $5o,000 to am swer any indictment which may he