Evening star. [volume] (Washington, D.C.) 1854-1972, 1924-02-17
Branch Bank Case Reheari1,g
Is Asked Of Supreme Court
Federal Government Seeks Ruling on
Special >Point-Fii1ancial Aid for
Northwest Being Pushed Vigorously.

The federal government filed in the
Supreme Court yesterday a motion
| joining the First National Bank of
st. Louis in asking a rehearing In the
recently decided branch bank case.
The brief declared that in neither
the majority nor minority opinion had
the court made any reference to that
section of the Revised Statutes upon
which the federal government had
built it's contention that questions as
to whether a national bank had ex-
ceeded its poYers could only be raised
, in the federal courts only upon suit
instituted by the controller Of the
| currency.
The solicitor-general added that the
federal government considered II I'M
portant in the event that the statute
/ In question had been considered in
connection with the opinion to have
the court deliver n supplemental optn-
ion explaining why 1t was not applt-
| cable. so that Congress could be ask
ed for new legislation which would
remove the fiscal Observation-Disclosures OF
the government from the Eisttorfal
powe rs OF the courts of the states.
|, Banquet Plans Completed.
Plans for the twentieth annual ban
quet of the local chapter, American
Institute of Banking. to be held next
Saturday night at the willard Hotel.
are announced as complete by ii. W:
Burnside, chairman OF the banquet
committee.
The program provides for re-
ception from $50 until pm, q
sumptuous dinner, three addresses by
able speakers and dancing from 10 TO
1880 pm. Clarence II. CLANCY. presi-
dent Of the American Institute OF
Banking, is coming from Minnesota to
deliver the principal address Of the
evening, sharing in this with Harry
v. Haynes. president of the District
of Columbia Bankers Association,
and Martin A. Morrison. former rep
resentative from Indiana and former
civil service commissioner.
James c. Dulin, jr., president or
the local chapter, will occupy the pre-
siding officers chair and Rev George
w. Atkinson will pronounce the IN
vocation. James Il. Reynolds. we.
president of the Commercial National
Bank. will be toastmaster; Robert
Lawrence has been secured to icad
the singing, and John Baldwin has
arranged an elaborate entertainment
program.
Reservations for tickets have come
in rapidly, thus adding to the prom,
Use that the forthcoming analr VIII
be bigger and better than ever before.
Garner Tax Plan Played.
Aroused by the action of the demo-
cratic caucus of the lower mousse III
making the Garner rates IN the peno-
ing tax measure a test of democracy,
the American Bankers League,
through it's president. Charles de B..
Claiborne, last night issued a state
ment calling upon its membership
and the public to repudiate the &C
~
manding OF Congress a non-partlsan
consideration of the measure.
I'VE challenge the authority or any
group of congressman TO detnrone
the Judgment or despoil the wisdom
of their colleagues or to render IN
valid the constitutional right OF a
sovereign to instruct his representa-
tive in Congress" the statement read
o test of democracy than they are a
test of religion. Such procedure
strikes down free institutions and
makes US government of politicians,
psopis IF this is
maintain the confidene of the Ameri-
can people, congressman must con-
suit them on fundamental principles
and must realize that those who pay
the taxes have an equity in this lesIs-
lation that cannot be abriged by a
political caucus"
Aid for Northwest Nearer.
President Coolidge's announcement
to Congress that he had directed the
secretaries of commerce and agrfcul-
ture and the managing director or
the War Finance Corporation to con-
fer with representative groups of
business men looking to cooperation
with federal activities seeking to as
sist the northwest financially had
immediate response IN the tentative
creation of a corporation pledged to
raise s1o,oOO,ooo and to function
without gain.
That no small part of the trouble
has been caused by the banks that
have failed IS apparent. In that other
banks, better managed, in the same
sections and under the same condi-
tions. have increased their deposits
and reduced their obligations for
borrowed money. The controller of
year 1928 banks in North Dakota re-
Finance Corporation from ss1.sss. 900
to s2o,523.000. and that the banks of
South Dakota reduced theirs from
$20.000.000 to s13.000.00o.
Since the passage of the act Au-
gust "a, 1921, giving the War Finance
Corporation authority to make ad-
vances for agricultural and live stock
sc taat nay
ceived totaled s1ss, 762,6s2. leaving a
balance outstanding october, 1923, Of
ss7.ss2.072.
In June. 1929. the federal land banks
began to function under the new
organization In 1917 to that date the
loans Of federal land banks aggre-
gated S7ss.7O3,1o4, Of which $214.712.-
O15 were made during the last fiscal
year. which was the biggest volume
of business In any year In the history
Of the federal land banks.
20 Land Banks In Operation.
During the last fiscal year charters
were issued to tWenty-efght stock
land banks, making seventy in active
operation now. From the beginning
of the system to June 80, 1923. the
loans made by these banks totaled
s370.3s7,s34, Of which s231,059,320
were made during the last fiscal year.
IThe Wear 1924 to Da