Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-27
TWO BLAINE BILLS
WILL Be DELAYED
FOR NEXT CONGRESS
Foreclosure and Securities
Sale Measures Definitely
Postponed for Session.
DISTRICT COMMITTEE
PAYS ZIHLMAN TRIBUTE
Hull, Palmer and Hall Make Fare
well Speeches as They Near
End of House Service.

The House District Committee today
definitely postponed until the next
Congress further consideration of the
two Blaine bills, one to regulate for
closure of mortgages and deeds of trust,
and the other to regulate the issuance
and sale of stocks, bonds and other
securities In the District.
The committee then paid tribute by
the speeches Of individual members to
Chairman Zihlman, who is retiring at
the close of the present session. Rep
resentatives Hull of Wisconsin, Palmer
Of Missouri and Hall of Indiana made
their farewell speeches, as they will
not be in the next Congress.
Following the motion to definitely
lay aside the Blaine measures, the
committee, by a unanimous vote,
adopted a resolution offered by Rep
resentative Norton, Democrat, New
Jersey, for the appointment of a spe-
cial committee of six who also will
be in the Seventy-second Congress ito
make a thorough study Of the subject
matter in the two Blaine bills and
to submit a report and recommended
lions to the District Committee in the
Seventy-second Congress, when or
ganized, for such consideration and
action as that committee may deem
it advisable to take"
Need Held Recognized.
In the resolution it was set forth
that the committee recognizes the need
for a revision of the law relating to
mortgages and foreclosures in the Dis
trict and the necessity for protective
measures as to the sale of all securities
and is cognizant of the lack of regu-
lation Of this very important branch of
financing.
THE committee feels it is unable to
give in the remaining days of Congress
the time and study that should be given
to the subject matter of this legislation,
which is very far-reaching and of the
utmost Importance. It would be i'm
possible In these last few days of this
Congress to obtain the consideration of
these measures on the floor Of the House
that should be given them"
Keyser Is witness.
Chairman Zfhlman appointed on this
special committee Representatives Nc
Leod of Michigan, Whitley of New York
Loofbourow of Utah, ali Republicans.
and Norton of New Jersey, Tarver of
Georgia and Patman of Texas, all
Democrats.
Paul D. Keyser, representing the In
vestment Bankers Association of Amer
lea, was a witness before the committee
today in opposition to the Blaine bills.
Representative McClintick of Ohio OBJ
jected to reopening the hearing and
Representative Hull said that only AL
hour remains to dispose of this meas
ure and that the time should not be
frittered away in hearing opponents,
who already have had their day in
court before the Senate and have con-
sumed practically all the time before
the House committee.
Representative Patman said he had
no intention of fiilibustering, but that
he would insist on reading the bill by
paragraphs for amendments and that
he would insist on hearing witnesses SO
that the committee might report out a
carefully considered measure.
McClintock Asks Delay.
''If he pursues this course" said Rep
reSentative Hull, there will be no
chance CT getting through this legisla-
ton, so it is waste of time to con-
slider it further now"
MFR. Patman said that careful study
made by him shows this can be real
dangerous legislation, as well as helpful
legislation. Representative McClintock
then made the motion to postpone fur
ther consideration, which was adopted
by a 6-to-3 vote. Those voting for it
were: Representatives Stalker, New
York; Hall, Indiana; Palmer, Missouri;
McClintock, Ohio; Loofbdurow, Utah,
and Patman, Texas. Those voting in
opposition were: Representatives Hull,
Wisconsin: Norton, New Jersey, and
Zihlman, Maryland
Representative Patman. in replying to
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