Keynote features of the new currency reform bill
The draft currency reform bill centers on bank reserves, national banks in regional reserves, and central reserve city banks. It creates federal reserve banks with a nine member board, shifts reserves between vaults and the Fed, and lays out staged reserve requirements for country and central banks over 38 months, with a 3 to 5 percent range and transfer of funds to the treasury. The plan seeks to modernize the system, ensure stability, and place government funds with federal banks, while granting dividends to stockholders and tax exemptions for reserve banks.
MENTIONED IN THIS ARTICLE
Tribute Bureau
Washington
Central Reserve
Secretary of the Treasury
Federal Reserve Bank
National Banking Association
District Federal Reserve Bank
National Bank
Secretary of the ‘Treasury
Ae Lwrein
Rex
Federal Reserve Bank of
New York
Systen
Administration plan to reform currency and create federal reserve banks
From The Tribune Bureau Washington June 1 the administration's currency bill aims to revise the national banking system by creating twelve federal reserve banks open to stockholding banks and state banks as members. The measure consolidates note issuance, discounting of eligible commercial paper, and foreign banking functions under a federal reserve board with sweeping supervisory powers.
MENTIONED IN THIS ARTICLE
Tare
Sind
Federal Reserve Banks
Federal Reserve Lniniky
Eel
Federal Reserve Board
Federal Reserve Bank of
Tdie
Federal Reserve Bank
Tribune Bureau
Washington
Representatives Glass
Representative Glass
Virginia
House of C
Banking and Currency Committee
United States
National Bank Act
Aldrich-Vreeland
Rational Bank
Bank Reserve Plan Aims To Trim Central Bank Use
The proposal outlines reserve distributions among banks with 5 percent in the national reserve bank and 5 percent at home or with the reserve bank. It envisions 20 percent reserves for de mand with 10 percent at home and 9 percent with district ranks. It seeks to end central reserve city banks use in stock market operations and to restrict funds access for speculators. The DAN allows national banks with 1.9 million capital to open foreign branches to aid American commerce, subject to Federal Reserve Board approval.
MENTIONED IN THIS ARTICLE
National Reserve Bank
Reserve Bank
City Ba
Central Re
The
DAN
United States
Federal Reserve Board
Bankers Debate Currency Reform at Atlanta Session
In Atlanta on June 19 the currency commission of the American Bankers Association met from early morning until late at night with two short breaks to study proposed currency reform and draft responses to 33 Senate Finance questions. Members planned to keep decisions confidential until Sunday. Leaders expect major reserve changes to come, with debates on reserve requirements and potential modifications remaining unsettled.
MENTIONED IN THIS ARTICLE
Pee Ee
Atlanta City
Senate Finance Committee
Com Minsion
Canaves
China
Police find second job a poet’s arespect man notes
A roughly sixty year old poetically minded man, found on a stoop on Talent Street last evening, was identified as deaf, lame, winded, crippled and insane by Dr. Tippens of J Hood Wright Hospital. He was taken to Bellevue Hospital after police could learn nothing of his identity. Found by Patronus Hanover he wrote unintelligible marks in a book while gazing upward. Dr. Topens first took him to West 120th Street station then Bellevue, where he kept writing.
MENTIONED IN THIS ARTICLE
Dr. Tippens
J. Hood Wright Hospital
Bellevue Hospital
Patronus Hanover
Topens
West 120Th Street
Bellevue
Baltimore
Painter
Charles Glaser
Standish Melleury
7. C. Perry
Boyd
Glaser
McCleary
Jacksonville
New York
WAKO
United States Fidelity and Guaranty Company
The
Tribune
Mattimore
Varitable Sife , Assurance Society
Metropolitan Life Insurance Company
New Dier Robbery Trail Ties To Staten Island Pair
The article reports Albert Menehot and an accomplice, arrested for the home burglary of Jacqes Dien in Eltingville, Staten Island. The Richmond County Grand Jury is expected to return indictments, with Richmond County DA Albert Fach’s disclosures linking seven relatives or associates to the case. Additional revelations may trigger further actions by Manhattan authorities.
MENTIONED IN THIS ARTICLE
Albert Menehot
Jacwies Dien
Eltingville
Ataten Island
Mwichmond County Grand
Albert Fach
Distriet
Richmond County
Fwnchon
Pleucker
Yyter
Tribune
Redmond County
Grand Jury
Distetet
Fey Veh
Manhattan
Fight to relieve city from upkeep of Ashokan road
At a Fiard of Enttnurity meeting the opposition to a 31,3900 dollar appropriation for a vitrified brick road around the Ashokan reservoir was voiced. A councilor vowed to continue opposition until the city is relieved from court-ordered perpetual maintenance. A Water Supply Board member warned delays to Catskill water could occur if the road is not completed promptly. Debate postponed to assess if the court order can be vacated without harming the city.
MENTIONED IN THIS ARTICLE
Conny Orrare
Enttnuty
Ashokan
Eppoge
Cty
Republicans Urge Whitman For Mayor In Fusion Effort
The Republican County Committee urged the fusion committee to back Charles Whitman for mayor, pledging nonpartisan support against Tammany Hall. Frederick Tanner led a cheering meeting at Murray Hill Lyceum, endorsing Whitman’s fusion appeal and praising his record and independence from party lines.
MENTIONED IN THIS ARTICLE
Charles Whitman
Frederick ¢. Tanner
Whitman Vex
Murray Hill
Hxelf
Thone
Timieinad Campagne
Heraune
Tarmany Hall Ot Iecoming Campaien
Charles S. Whitman
Mayo
Pitth Avenue
Ths
Himwat
Whitman
Tln
Business Meni Progressive Association
Mmnmany
Tte
Fifth Avenue
Bronx
Bronx County
Janet
Ate Whitman
Sagamore
Prie Martes Fueten
Pree
Roosevelt
Whitian
Longacre Hushting
Hromiway
Wad Street
Pend Hut
Earoll
Wwhlman
Frank Mess
Zeppelins for Germany Only Promise Declared
Friedrichshafen Germany June 1 Count Zeppelin announced he would not accept foreign airship orders. His company would build dirigibles solely for the German government or for domestic use in Germany.
MENTIONED IN THIS ARTICLE
Germany
Friedrichshafen
Count Zeppelin
He Wald
Fortive
Fire in Naples Arsenal Threatens Palace and Port
A major fire at Naples Arsenal endangered the Royal Palace and nearby harbor. Ten casualties were reported among relief forces after ten hours of effort. The Duke of Aosta arrived to assume command of firefighters, sailors, and soldiers battling the flames.
MENTIONED IN THIS ARTICLE
Wong
Gulf Coum
Mount Venuville
Duke of
Aosta
Victor Emmanuel
New Balkan Deadlock Deepens Over Balkan Peace
London dispatch reports Bulgaria rejected Serbia's demand to revise the antebellum treaty and seeks Russian arbitration. Serbia wants all issues referred to Russia. The Foreign Office signals strong disapproval of any peace steps before a secure settlement.
MENTIONED IN THIS ARTICLE
London
Bulgaria
Servia
Russia
Ris
Preneh Foreign Office
Rietoria
Belmonts Win A Race Aboard Hamburg America Line
Belmont sailed for Hamburg yesterday aboard the Hamburg American liner America. He arrived at the pier as the gangplank was pulled ashore. longshoremen halted work to greet Mr Meltient and Mrs Belmont before permitting them to go aboard.
MENTIONED IN THIS ARTICLE
Auburl See G Beee
Belmont
Hamburg
Yestendae
Ament
Mle
Oboe Sa
Also Mentioned on This Page
Wall Street
White House
Bryan
House Banking and Currency Committee
Reserve Law
Federal Reserve Tank
Central Reserve City Banks
Tis
Treasury
Federal Reserve
Zudieval Reserve Banks
Division of Business
Nik Mig
Linwa
Ureent
Ander
United Buster
Federal
Administration
Eign
Federalreserve
Treasury Department
Secretary of Agriculture
Senate
Presidentia
Banking Periones
Foreign Banking
Association
New Dier
YALE
New Haven
Theodore Bo Lax
Austria
Tex
Yate Venterdus
Wan
Maury Reardon
Tanner
Col. Roosevelt
Fanner
Lyr
Tevouk
Mayer
Thie
Elsberg
Bird
Sathanier
Judge Rules Court
Edward
Fla
Duffy
George Whipple
William H. Welch
Johns Hopkins University
Whipple
Arthur
Jackson
Dreicer de Feicvers
Uft
Avenue 9
York
Naples
Balkan
Belmonts
August
Pier Justi
National Co-Operatne Company
Wardack
Ben Jam D. Craven
Nainsook
Madras
Lise
E & Sam
Cas Tonioc Iy
Mauch Chunk
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