Evening star. [volume] (Washington, D.C.) 1854-1972, 1943-03-14
Many Bills Affecting
Financial District
Pending in Congress
Lend Bank Plans, Hole
Liquidation and Bon
On Branches Studied
BY EDWARD c. STONE.

end loan leaders are watching with
deep interest progress of the large
number of bills bearing on finance
introduced in the present session of
Congress. While several of these
bills have progressed out of COM
mittees, no major legislation affect
ing banking has yet been passed
Representative Dirksen's bill aimed
ct liquidation of the Home Owners
Loan Corp, the Fulmer bill COM
pletely changing the basic structure
of the Federal Land Bank System
and the Patman bill prohibiting the
establishment of additional branch
banks or offices by building and loan
associations, which are insured by
the Government, are drawing spe-
clal attention from f1nanciers.
Representative Dirksens bill di-
reefs the Hole to sell and transfer
to private parties, mortgage institu-
tons or others its mortgages, home
purchase contracts and other assets.
The bill, which is backed by bank
ers and building and loan experts
all over the country, has been re-
ferred to the House Banking and
Currency Committee, which has
taken no action on 1t. In the mean
time Representative Dirksen is seek
Ing to have the 1943 fiscal year
Hole appropriation reduced.
Fulmer Bill in Committee.
The Fulmer bill dealing with the
FEDERAL Land Bank System differs
only slightly from the measure be-
fore the last Congress. The CO.
operative character of the system
would be destroyed by eliminating
the requirement. of stock ownership
IN the Federal land banks and the
national farm loan associations by
farmer-borrowers. The Government
would become the sole source of
capital funds for the land banks.
The bill Is now before the House
Committee on Agriculture awaiting
action.
According to summary of the
legislative standing of these bills of
vital Importance to banking, sent by
d. j. Needham, general counsel of
the American Bankers Association.
to State secretaries, the Patman bill
opposing bank and building and
loan branch Offices expansion, is now
before the House Banking and Cur
rency Committee.
Two bills introduced by Senator
Wagner amending laws relating to
Federal Home Loan Banks and Fed
erHl Loan Associations are now be-
fore the Senate Banking and Cur
rency Committee.
Insurance Extension Urged.
Bills proposing extension of in
surance under Titles and vi OF the
Federal Housing Act have been
passed by the Senate and reported
favorably to the House. The ex-
tension would be from July /, 1943
of this year to July /. 1916.
Other bills, strongly opposed by
all commercial bankers, propose
Government ownership of the IL
Federal Reserve Banks. introduced
by Representative Voorhis and
Representative Patman, four of these
bills are now before the House Bank
ing and Currency Committee, the
survey shows.
Another House bill now before
the Committee on Banking and
Currency would authorize insured
banks which are examined twice q
year by the controller of currency
to deduct the examination charge
from the assessment by the Federal
nepocit Insurance Corn
Experts to Address Shippers.
Joseph B. Eastman. director of the
Office of Defense Transportation,
and Warren c. Kendall, also of
Washington, chairman of the Car
Service Division of the Association
OF American Railroads, will be the
principal speakers at the 10th an
nual meeting Of the Allegheny Re-
gional Advisory Board in Pittsburgh
on Wednesday. Mr.. Eastman will
appear on the luncheon program,
and Mr.. Kendall will speak on the
national transportation situation at
the morning business session.
The job ahead for the railroads
and the shippers will dominate the
discussions at the meeting, which
will be attended by representatives
Of industry. agriculture and finance
from Pennsylvania, Ohio. Maryland,
Virginia and West Virginia.
Baird Elected Director.
Bruce Baird, president of the Ma
tional Savings & Trust Co, yester-
day was elected director of Hib-
bard, Spencer Bartlett e. Co, of
Chicago, according to a dispatch re-
ceived here The firm Is one of the
largest distributors of hardware in
the United States and has an I'M
broken dividend record since 1881.
Chairman Crowley of the Federal
Deposit Insurance Corp. reported to
now have the strongest asset posi-
ton in history, record deposits of
$4,000 600, 900 and ARE ready to
meet any war demands which may
be made" He declared the outlook
for increased banking profits is
good
Welcome For Loan Students.
i '" p4uliiciiobeI il" VI VIC W.
lumbia Federal Savings e. Loan As
ISOLATION, and president of Washing
ton Chapter. American Savings and
Loan Institute, announced yester-
day that former students will be
assured Of a welcome at building
and loan hospitality centers all over
the world by a plan now being
worked out by the United States
Savings and Loan League.
Liaison officers are to be appointed
In various cities to develop hospital
ity centers for the hundreds of en-
ployes now in the service The plan
has worked especially well in Eng