Evening star., 1933-03-01
EMERGENCY BANK
BILLS INTRODUCED
Maryland Legislature Given
Reform MeaSure-HoIiday
Extended One Day.
BY STAFF Correspondent of The Star.

BY STAFF Correspondent of The Star.
ANNAPOLIS Md, March 1.-The
administrators emergency banking bill,
over which Gov. Albert C. Richie,
State officials and groups representing
banking interests and depositors have
been laboring in Baltimore since Sat-
urday, was introduced in the Senate
this afternoon, with the name Of Sen
ator Benjamin H. McKindless, Demo-
crat, Of Baltimore City, appearing on
the measure as its sponsor.
It was referred by President Walter
]. Mitchell, Democrat, of Charles
County, to the Committees on Finance
and Judicial Proceeding, with the rec
ommendation that they meet jointly
"as speedily as they find it convenient
to consider the measure"
The two committees set their meeting
for 2:30 o'clock this afternoon and it
was announced that Gov. Ritchie would
appear before them to discuss and ex-
plain the measure.
Senator Lansdale G. Sasscer, Demo-
crat Of Prince Georges County, chair
man Of the Finance Committee, called
the Joint meeting shortly before the
Senate recess. At $50 o'clock this
afternoon a vote on the banking bills
under suspension of the rules was con-
sidered likely. The House of Delegates
recessed shortly after noon until the
same hour, and will be prepared to take
up the measures after they are disposed
Of In the Senate.
Companion Bill Offered.
A companion bill was introduced by
McKindless a few moments after he
presented the emergency banking bill,
and 1t was explained by the Baltimore
legislator that it was for the purpose of
safeguarding deposits in building and
loan associations. The president Of the
Senate referred it to the same two COM
mittees for consideration along with
the emergency measure
Administration officials who arrived
here from Baltimore with copies Of the
bill shortly after noon found the legis-
lative machinery waiting for the pres
entation of the measure, and both
President Mitchell of the Senate and
Speaker T. Barton Harrington Of the
House announced they were prepared
to order series of recesses and sus-
pensions Of the rules that would per-
init enactment of the bill some time to-
udy OT tOIllSQL.
=. 1t is thus hoped to get the banks of
the State open by Friday A continu-
ance OF the extraordinary bank holiday
for at least "a hours after enactment
OF the measure will be necessary to en-
able the State bank commissioner to
promulgate and publish the rules and
regulations for the operation of the
banks which the bill will bring under
his control.
The administration measure would
IN effect place every bank in the State
IN technical receivership with the State
bank commissioner virtual dictator over
all banking affairs.
Can Restrict Withdrawals.
The commissioner would manage the
banks for period Of six months from
the passage of the act, and with the
approval Of the Governor and the at
torney general, may continue his man
agement for further period not to ex-
ceed six months.
In his capacity as technical receiver
Tor all banks, the commissioner would
be authorized to restrict Withdrawals
entirely at his own discretion, with the
exception that public funds, State,
county and municipal accounts would
be exempted from the limitation.
There would be no recourse against
his action except by mandamus filed in
the Circuit Courts of the counties in
which the banks are located, or in one
OF the law courts of Baltimore City in
the event the bank is located in that
jurisdiction.
No restriction or limitation on with
drawals of deposits made by or under
tie provision Of the act shall apply to
Withdrawals from any banking institu-
ton by check for the payment Of taxes,
assessments or public charges OF any
kind or character payable by any de-
positor to the State, any county NUM-
cipality or town or taxing district, or
any political subdivision Of the State,
provided the checks be presented for de-
before tomorrow.