Evening star., 1932-01-22

dIIlOIl iOddy anu GIlC Jill IlO" SOCo
to President Hoover.
BY the Associated Press.
One of the remaining barriers to
enactment of the reconstruction bill
melted today and only Senate approval
of the final draft barred its way to
the White House
After a brief debate the House fin
ished with the measure and sent it
to the Senate That branch, too, may
dispose of the bill today though tech
nicalities might delay it until tomorrow.
To lose no time, the House Appro-
priations Committee met to recommend
the appropriation of $500000,0 900 which
Is needed to give the corporation its
starting capital This will pass as soon
as the authorizing bill is law, House
leaders promising to put it through the
very same day Mr.. Hoover signs the
pending act.
Hoover Sends Request.
This appropriation and approval by
the Senate of the Presidents yet un-
made nominations to complete the
the only steps required to put to work
this agency for releasing billions in
fresh credit to replace unliquid assets
now clogging channels OF American
business.
The President himself set in motion
the move for appropriation of the
money, diSpatching a short request to
Congress late yesterday immediately
after reading the revised bill and giving
it his high approval.
Charles G. Dawes, who is to be the
reconstruction units president, en-
gagged, meanwhile, in final arrange
ments for setting up headquarters en-
listing personnel and establishing him
self in the Capital for long stay; He
has been a guest at the White House
for several days.
One bill of the Hoover economic pro-
gram, already out of Congress, waited
tie Presidents signature today. 1t Is
to provide S125 100000 new capital for
the Federal land banks. Two other
units, of the program continued under
committee scrutiny, while Senator
Glass. Democrat. Virginia, Incorporated
the desired provision for relieving de-
positors of closed banks in his long
heralded bill to overhaul the countryS
banking laws, curb speculation ano
chain banking. This measure went
Immediately to the Banking Commit
tee.
Treasury Clears Rule.
The Treasury Department late yes
terday made ruling partially Clarity
ing the developing uncertainty as TO
the restrictions imposed by the recon
struction bill upon the appointment
of its board of directors.
The measure stipulates that the Sec
retary of the Treasury, the farm loan
commissioner and the governor OF the
Federal Reserve Boad shall serve as
ex-officio members, with four more to
be appointed by the President. 1t
sets forth that not more than one shall
be from Federal Reserve district.
The Treasury said the geographical
restriction applied only to the four
presidential appointeeS. This cleared
the way for the appointment of Bernard
M. Baruch, whose eligibility had been
questioned because Of the fact he comes
from New York, the same reserve dis
trict as Eugene Meyer, governor of the
Federal Reserve Board.
Mclean May be Named.
Angus w. Mclean. former Governor
Of North Carolina, who served as
member of the war Finance Corpora
ton, is regarded as likely choice. The
name of Harvey C. Couch, public utili-
ties man Of Arkansas, also is prom
inently mentioned.
In. his letter to Congress asking the
$500, 100000 appropriation. President
Hoover said:
II have the honor to transmit here
with for the consideration of Congress
an estimate of appropriation for the
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