Evening star. [volume] (Washington, D.C.) 1854-1972, 1941-03-12
New Banking Bills
To Be Considered
ByCongress
Some Proposals Also
VitoI for Building
And Loan Groups
BY EDWARD c. STONE.

similar measures presented earlier
In the present session, Some of the
proposed legislation also has very
vital bearing on building and loar
associations.
After a hull of several weeks
legislative activity on financial mat.
tiers has increased sharply. drawing
a lot more attention from the bank
ing fraternity. Bills recently in
PRODUCED in the Senate, with the
names of their sponsors and theil
present status. include the following
Sheppard TeXas-Makes shares
and accounts of insured savings ano
loan. building and loan associations
and similar institutions eligible in
vestments for Federal credit unions
Referred to Committee on Banking
and Currency.
Davis, Observation-Disclosures Ma
tional Housing Act to give protection
to certain mortgagors in military
service Referred to Committee on
Banking and Currency.
Lower Loan Rates Sought.
Capper, KansaS-Provides for re-
duced interest rate on Federal Land
Bank and Land Bank Commissioner
on principal payments of such loans.
Referred to Committee on Banking
and Currency.
Bankhea d, acknowledgements
Agricultural Adjustment Act of 1898
to provide for Commodity Credit
Corp. loans at 100 per cent of the
parity price for the four major farm
crops. lie. cotton, wheat, tobacco
and rice, and at 85 per cent of parity
for corn in commercial crop produc-
ing area. Referred to Committee on
Agriculture and Forestry.
SmatherS, New Observation-Disclosures
r. F. c. to make loans upon trusted
assets of any building and loan ssso-
citation. Referred to Committee on
Banking and Currency.
Wiley, Wisconsin - Provides for
voluntary adjustment of indebted
ness between farmer debtors and
their creditors and refinancing of
certain mortgages held by Federal
land banks. Referred to Committee
on Agriculture and Forestry
Hatch. New MeXico-Regulat ton of
administrative procedure of Federal
agencies. Referred TO Committee on
the Judiciary.
BILLS Introduced in HouSe
Among bills directly or indirectly
affecting banking, recently intro
duced, are the following:
SABBATH. Illinois-EStabiShe per-
manent Industrial Loan Corp. to
assist financing institutions in max
ing credit available to commercial
and industrial enterprises. Referred
10 Committee on Banking and Cur
rency.
Doughton, North Carolina - Elk
tends Scent postage rate on first
class mail for additional two years
to July l. 1943 Referred to Com
mittee on Ways and Means.
Bradley, Observation-Disclosures I'M
compensated officer of a corporation
from definition of ''employe' in So
cial Security Act. Referred to Com
mittee on Ways and Means.
Reed, New York - Terminates
powers of President to issue $1,000
0000 of 'greenbacks," to purchase
foreign silver, to issue silver certifl-
Gates and to reduce the weight of
the gold dollar. Referred to Com
mitttee on Coinage, Weights and
Measures.
Special Aid for Mortgagors.
Sacks. PENNSYLVANIA Provides
protection to home mortgagors while
rendering military service during
any national emergency. Referred to
Committee on Banking and Cur
rency.
Peterson, Georgia Substitute for
H. R. 103D-Provides for acquisi-
ton of farm mortgages by Secre-
tary of the Interior; cancellation of
mortgage upon conveyance of farm
to Secretary; inclusion of such
farm IN public domain, available
for re-entry under the homestead
laws, with priority to the mort
gagors of such farm land in con-
nection with such re-entry. Re
ferred to Committee on Public
Lands.
Robson. Provides for
reduced interest rate on Federal
land bank and land bank COM
missioner loans Referred to Com
mittee on Agriculture.
Woodruff, Michigan-Provides re-
lief from taxation on certain trans
actions by reorganized banks. Re-
ferred to Committee on Ways and
Means.
Bankers Plan Joint Meeting.
DR.. Lowell J. Ragatz, professor of
modern European history. George
Washington University. will be the
guest speaker at joint dinner meet
ing of the auditors and safe deposit
sections of the District Bankers
Association, tomorrow evening, at
the Lee Sheraton Hotel Behind
the Headlines From Europe will be
his subject.
The annual meeting of the stock
holders Of Peoples Drug Stores, Inc,
will be held on March 26. President
Thomas N. Beavers announces. The
annual report shows that Peoples
Drug had 136 stores in operation
during the year 1910, in Washington,
Virginia, Maryland, Ohio. Pennsyl-
vania, New Jersey and as far south
as johnson City, Tenn.
Settler Named on Committee.
President j. L. Dart of the Amer
lean Institute of Banking has COM
pleted appointments to the subcom-
mittee of the associations National
Research Committee Washington
will be represented by Paul j. Self
ger, assistant treasurer of the Amer
lean Security & Trust Co.
The new committee will conduct
special studies for the institute, and
when called upon will work for
the American Bankers Association.
Committee members will gather in
formation from banks in their own
territories.
Today's Trading on Exchange.
Capital Traction SIS opened trading