The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-01-18
RUSH BILL FOR
BONE DRY LAW
REPEAL FILED
Emergency Measure Pushed
in House; Beer Control
Draft introduced.
NEW BANK CODE ASKED
Elimination of ReCeiVership
Evils Are Sought by
Survey Board.

Inc mouse OF representatives was
handed surprise package of wet
goods" today. when an emergency
bill for outright repeal of the
Wright bone dry law was intro
duCed as a companion measure to
the long-heralded administration
beer control bill
Although the repeater bore the
signatures of fifty-eight repre-
sentatives, several members of the
house, expecting only the beer
omnibus bill, murmured perplexedly
over it.
Representative John F. Ryan
Dem, Terre Haute), chairman
of the public morals committee
and introducer of both measures,
rose to explain.
That measure, gentlemen" he
said, demands immediate and out
right repeal of the Wright law"
Applause Greets Remark
A salvo of handclaps greeted his
explanation.
Immediately on the heels of the
repeater came the beer control bill,
which also carries a provision for
Wright repeal and medicinal whisky.
1t bore the names of thirty three
representatives, but three asked to
have their names removed.
This trio included Representa-
tives Pat j. Cain Dem, FIT. Wayne) .,
Charles j. Allerdt and Aloysius v.
Korpal Dems., South Bend. All
are vets from wet centers and favor
| the legalization of beer.
Withdrawal of their sponsorship
was due, they explained, to objec-
tons to what they term monop-
olistic features of the measure
which limit the number of brew
cries.
Provisions for handling of i'm
ported beers, they assert, limit the
competition that can and should be
offered by local breweries.
All Favor Repeal
Cain, AlIardt and Korpal all favor
immediate Wright law repeal.
Submission of the Wright repeal
er along with the beer bill was die
tated, it is understood, by a desire
to insure immediate action and
not have it tied up solely in the
beer bill, since the latter could not
be operative until congressional &C
ton affecting beer legalization is
| taken.
Provisions of the beer bill are I'M
changed from the order in which
they came from final parley of
administration conferees.
Also introduced in the house to-
day was the administration meas
ure setting up a new bank coee,
dealing in particular with correc-
ton of grave abuses in the receiv-
ership system of closed bank liQui-
dation
Product of the study commission
for Indiana financial institutions,
which conducted a survey of world
banking laws, the measure has been
called one of the most comprehen-
sive ever designed to revamp bank
laws.
Under provisions of the bank bill.
the state banking department is
abolished and new partisan,
nom salaried board Of four members
would be appointed by the Governor.
This board would have full super
vision over banks, building ana loan
associations, petty lenders, credit
unions, and other financial institu-
tionS.
Given Full Charge
In liquidation of closed financial
institutions, the new board would
have full charge, subject to review
by courts. Another grave abuse the
bill is designed to correct is the
excessive borrowing by inside
cliqueS."
In no event, the bill provides, can
a bank lend more than 10 per cent
OF its capital structure 20 any one
borrower. Neither can a bank &C
cept deposits in excess of ten times
b. its capital structure.
Building and loan laws are codi-
fed and loans limited to &C per cent
of the appraised value of the real
estate. Stockholders would be pro-
hlblted from withdrawing more
than 500 without notice, unless the
cash reserve of the association
equals more than per cent of its
total assets.
Much attention is paid by the bill
to holding companies or securitie.
affiliateS. The new board is vested
with authority to investigate these
companies and may order banks tc
withdraw their money from holding
companies, if such action is deemed
warranted.
Mine Bill Killed
The measure was drawn by a
study commission of eleven, with
Walter S. Greenough, indianapolis
chairman, and Herman Wells
Bloomington, secretary and research
director.
Killing bill which would have
compelled strip mine owners to level
ground after removal of coal, and
a clash over sending an Indiana
delegate to legislative conference
in Washington, marked the fore
noon session in the house.
The bill came from the mines and
mining committee. with a recon-
mendation for indefinite postpone
nj e mt by the majority, and a
minority report, signed by Repre-