The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-02-12
SHELVING OF
LOAN SHARK
BILLS FLAYED
Wrath Is Stirred in House
by Delay in Committee
on Measures.
STRONG LOBBY IS BUSY
Public Hearing Scheduled
and Fireworks Display
Is Forecast.

lndiana'S house of representatives
obviously bewildered at the pushing
around" being given three impor-
tant bills designed to curb so-called
petty loan sharks" today looked to
a public hearing to throw some
light on any underlying reasons for
transfer Of the bills from one
committe to another.
A strong lobby is known to be
seeking defeat of the measures
which, members claim, would wreck
Indianas small loan business. That
this reaches a staggering figure is
indicated by preliminary data COM
piled by the state banking depart
ment, showing that petty loans to-
tailed approximately $13,000000 in
Indiana in 1929.
Speculation freely INDUCED in for
some time came to climax on
wednesday afternoon at the close of
humdrum session of the house.
when authors of the petty loan bills
charged excessive delay by judiciary
A committee, and obtained their
- NAASANA W JL0ASlol d.
Irate Over Delay
Irate at cancellation of a public
hearing scheduled for Tuesday
night, Representative Clyde Kar-
rer Dem., Marion) pointed out
that two of the bills were intro
duced the first and second days of
the session.
He was joined in the transfer
demand by Representative William
E. Wilson (Dem., Hancock and
Madison), who also contributed to
the bewilderment of the house by
asserting angrily: Il want to say
that all members here are on 8 par
in intelligence"
Representative Fabius Gwin
(Dem., Dubois and Martini, iu-
dietary A chairman, Immediately
was on his feet to explain the
hearing cancellation, saying he was
unable to get committee quorum
and has been waiting for the state
banking department to supply him
with loan business data.
ITO Much Talk Already"
Transfer of the bills to judiciary
B was the signal for a descent on
Representative Chester K. Watson
dem, Allen and Whitley.
you're going to hold public
hearings on these bills, aren't you?"
he was asked
Before he replied, Representative
John D. T. Bold Dem, Wander
burg, his seat neighbor, interjected:
You'd better, Watson. There's
been too much talk about these
bills already"
Watson then said he would hold
a public hearing.
Karrer'S loan bill slaShes the
petty loan interest from 315 to
per cent a month. Wilson's two
measures reduce it to 8 and 10 per
cent a year. A third Wilson bill
on petty loans has been postponed
indefinitely.
So They Wonder
Most unusual proceeding-some
Of us wonder what's back of it." is
the attitude of many of the rep
resentatives. as expressed by Rep
resentative Miles j. Furnas CRep..
Randolph, Republican caucus
chairman.
Furnas declared Wednesday night
he favored an investigation DE
fore the thing goes any further"
His comment was regarded by some
observers as an indication that a
resolution may be introduced in the
house today calling for a probe.
Conjecture as to the significance
of semi-private conversation be-
TWEEN lobbyist and one member
Of the house has been revived over
night.
I'm for such and SUCH bills
the member was overheard saying
to the lobbyist.
We've got a million dollars to de-
feat them, was the reply.
We'll" returned the representa-
tive, refectiyely. I'm always will
ing to listen to reason