The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1933-03-02
~ THOMAS L. STOKES
LATED Press Staff Correspondent

FISHlNGTON, Mar. ,. (UP).
l,,ress shook of its lethargy
zef,isy and in a record legisla-
Il performance enacted meas.
! ~ designed TO lift the pressing
" Of debt from the city man,
| = farmer. and the railroads.
Striking further at the eco
Ynic aftermath of the depres-
son. it pushed forward measures
FOR a moratorium for cities which
can not meet their obligations,
and farmers and city jewellers who
are threatened with loss of their
i0neS.
Despite this burst of speed, en-
agency measures, particularly
Ifecting banking, will be left I'M
1Sied when congress adjourns
N-riay. At the same time DEM
! u5c leaders received word that
hSsnt-elect Roosevelt probab-
/ mid call the special session
IS1 March 20. 1t was originally
x.sgied for April II.
CtrgreSS Wednesday completed
ID sent TO President Hoover
ses two far-reaching measures:
/ The McKeown LaGuardia-
,hsngs bankruptcy reform act
Rrt permits individuals and
t1sfs TO scale down. existing in
5ssiness By agreement with
aE creditors. The former viii
III through federal courts. the
ET through Cancellation conf
-Sol. Railroads may reorgan-
nTi,h court and interstate COM
-gce commission approval.
= The Smith bill designed t o
ns cotton prices by reducing
Teage. IL permits cotton farm
Il ThO agree to reduce their
i'eage To join in a pool of sur
'ls government-owned cotton
1iose profits would accrue TO
ten.
Inc senate passed yesterday
l,l sent TO the house the Hull
hacOtt bill which would make
l)O000,O0O of Reconstruction
finance Corporation credit avail
ale 10 mortgagers who, in turn,
Eolid grant a two year morato-
nm on farms and city homes not
17eg $4,000 in value.
Splrred by a plea of Mayor
rank Murphy Of Detroit, the
h91ss judiciary committee yester-
tay reported favOrably. I to /,
tie Mcleod bill authorizing a two
Isa, moratorium on debts OF
a,jes less than $4,000 population
lTing not less than 81, 100000. A
SIMILAR bill was introduced in the
senate y Yesterday by Senator Geo.
v. Norris, Repn., Nebr., chairman
o. me judiciary committee. He
SAID he had called his committee
70 meet today to consider the
measure
In order 10 speed through en-
eIsency banking legislation in the
CIoSlng days of congress. Repre-
Fiorella LaGuardia. Re-
PUBLICAN, y. Y. introduced yes
::eiday a resolution creating a
.ont congressional committee with
ssF'aai dictatorial powers over
0anSlng legislation.
Ialk Of further action in the
g .ai situation by congress re-
owes about some form of guar
sal'ee Of bank deposits. possibly
" Cooperation of the federal
,y'ernmcnt and the banks them
s sNGS IN creating a guarantee
\ both President Hoover and
reSldent elect Roosevelt are
a =, 20 be opposed to guarantee
u Deposits in principle, but 1t was
ported las night that er1issaric5
v the president have discussed
Ss.A the preSident-elect some
% .n, Of emergency legislation.
hartman Henry B. Steagal OF
= house banking and currency
:. ..ulmlttee denounced the senate
,,::ss,erday for failure to pass his
!; soOU 100000 guarantee of depoS-
! ! Dill which the house passed
41 session.
ne immediately drew upon him.
sos!t the criticism of Rep. Carroll
GSsedy, Repn., Me-, who charged
~ aIabaman with bottling UP
-, re Glass banking bill in his com
.a'tee. Beedy wondered why what
~ termed the "scandalous" OPP
;S.a,IonS of the National City
' 'anE disclosed in the senate in,
n issusation had not stirred up the
n Syfrnocratic leadership to press the
''asS banking bin which eurbs
III 'nnN.-1