Evening star., 1933-01-26
GLASS BILLS DEATH
EXPECTED IN HOUSE,
Senate Approves Measure,
54 to 9, but Jam Believed Too
Great in Lower Branch.
BY the Associated Press.

over today with the Glass banking bill
passed by the Senate. This ended one
Of the longest filibusters in the history
Of lame duck" sessions.
But the triumph probably was one In
name only for this session. Every sign
pointed to slow death in the House for
the measure which Senator Glass, Vlr-
glnia, Democrat has backed for two
wears. A House legislative jam seemed
certain to block vote on 1t before
March 4.
Steagall Not Hopeful.
The House Banking Committee will
consider the bill, but Chairman Stea-
gall said today he was mot as hope1ul
as some" for action at this session.
Speaker Garner had just conferred with
him behind closed doors. Both de-
clined to discuss the meeting.
Rumor was that the Democratic lead
ership may seek to force House action
on the bill if the Banking Committee
does not act within a reasonable Time
Some of the Banking Committee al
ready have voiced opposition to the
branch banking feature of the Glass bill.
In its second successive night session,
the Senate passed the Glass bill, making
sweeping changes in the Nations banK-
ing laws, by vote of 54 to 9. The vote
came shortly before 7:30 o'clock.
Offered CIoture Petition.
Senator Glass, former Secretary OF
the Treasury and mentioned as PreSl-
dent-elect Rposevelt's choice for the
same post under the new administra-
ton. won out over the time-kllllng NIL
buster in the Senate last night by clrcu.
lating a petition to invoke the rigid
cloture debate limiting rule.
It was apparent that this time the
cloture petition would receive the nee
of that threat Senators Long OF LoulSl-
ana and Thomas of Oklahoma. Demo-
cratic leaders of the fllibuster, gave up
They said they no longer would delay
the banking bill, but predicted 1t was
As good as dead" when 1t reached the
House. ,-
1sae bin would make more than 20
changes in the national and Federal
Reserve Bank laws designed to curo
bank failures, assist deposltors OF closed
banks and stop the flow OF Federal Re
serve credit to speculative channels.
It would allow branch banking IN
nine States where State laws now per.
nit this system and require national
banks to drop their security anllateS
within five years. In addition, 1t Woulo
create an $800,O00,000 Federal corpora
ton to help reopen closed banks.
Thirty-Seven Sign Petition.
B. Thirty-seven Senators. including
dozen or more Republicans. and hve
Senators who opposed 1t last week,
signed the cloture petition in less IMAM
an hour last night, making it evident
the required two-thirds to adopt 1t was
available if Glass entered 1t.
In the face of this threat. Senator
Thomas proposed unanimous consent
agreement restricting debate more Sc.
|. yerelv than cloture would have done and
calling for a vote before adjournment
!. last night. -
He and Long both gave assurances OF
their good faith by withholding any
amendments, and in less than two hours
. after the agreement to limit debate was
. reached the bill was passed.
Long, paired against the bill. was alb
sent when the vote was taken.
Thomas. earlier in yesterdays debate
on the bill, had voiced a threat to op-
pose the confirmation of Senator Glass
as Secretary of the Treasury, should
he be named for that post. This threat
followed the first reports that Glass
was planning a second effort to secure
passage of his bill by invoking cloture.
Threatens Confirmation.
eff cloture is asked on this bill for
q second time by the Senator from
Virginia." the Oklahoman said, ''he can
prepare a second cloture petition and
have it ready when his name comes
before the Senate for confirmation"
Before passage of the banking bill
two important amendments were adopt
ed. One, by Senator Steiwer, Repub-
lican, of Oregon, would give the con-
troller of the currency permissive power
to reopen banks on petition Of de-
positors representing IS per cent OF the
: deposits.
. The other, by Senator Gore, Demo-
crat, of Oklahoma, would make it a
misdemeanor for any executive officer
of Reserve member bank or his rela-
tives to borrow from that bank. The
maximum penalty for violating this Sec
ton was fixed at one year in prison and
$4,000 fine, while the banks involved
would have to pay not more than
$4,000.
Gore said he had been informed by
receivers Of some banks that one-third
of the bank failures were caused by
borrowings by officers of the institutions
and their relatives and told of presi-
dent of one bank who borrowed 100000
when the limit was only $65,000, causing
the institution to fail.
Branch Foe Defeated.
An effort by Senator Black, Demo-
crat, of Alabama, to strike out the Sec
ton permitting branch banking among
national banks in the nine States
authorizing this system among their own
o1 xr.or of fnI 10
The last day of debate on the bill,
which had been before the Senate since
January S, was featured again by de-
manos for currency imitation, but this
argument petered out several hours be-
fore the final vote.
In this connection Senator Borah, Re-
publican, of Idaho, took the floor late
in the day to deny an assertion by
Senator Bingham, Republican, of Con-
necticut, that he was among many who
favored .'cheapening the dollar"
He said he favored IAN honest dol
lar" that the present dollar was not in
that category and that some means
must 'be found for making it equally
fair for debtors and creditors.
Only four Republicans and four
Democrats opposed passage Of the
Glass bill along with the single Farmer
Labor Senator, Shipstead of Minnesota
Twenty-eight Republicans and &c
Democrats joined in voting for passage
The roll call follows:
For the bill: Republicans Austin
Bingham, Capper, Carey, CouzenS, Dale
Davis, Dickinson, Fess Glenn, Colds
borough, Grammer, Hale, Hastings
johnson, Kean, McNary, Moses, Oddie
Patterson, Reed, Schuyler, Steiwer
Thomas, Idaho; Townsend, Vanden-
berg, Walcott, Watson; %.
Democrats-Ashurst, Bailey, Barkley
Black, Rratton, Bulkley, Copeland, Co.'S
tigan, George, Glass, Gore, Harrison
Hayden, Hull. Kendrick, King, McGil
McKellar, Pittman, Robinson, Arkan-
sas; Russell. Smith, Trammell, Tydings
Wagner, Walsh, Montana; 26.
Against the bill: Republicans-Fra-
Hier, Howell, Nye, Schall; 4.
Democrats -Rlllnu Thnraos Olrla-