Show CAUCUS AGREES ON I POSTAL BANK BILL Representative Southwick of New York Bolted and Will Fight Measure Washington June 1 IThe The Republic Republicans ans ens of or the House went squarely on ice rec record ord tonight for prompt passage of the postal savings RInga bank bill which Is III patt part of President Taft Tafts legislative program The bill was finally agreed on at a four hours caucus lasting until mid raid midnight midnight night at which the following resolution tion submitted by Representative Taw Tawney fey noy of 0 Minnesota ota was adopted Resolved That the postal savings bank hank bill agreed alreed on by tills this caucus be and nd tho the same caine Is hereby adopted that the same me be bo reported by the com corn committee on s and post roads and that It is 1 the sense of eC this cau caucus caucus cus cue that a rule rulo bo be reported from the committee on rules for Its consideration cOD tion in the tho House The caucus was largely attended att and the only bolt was by Representative Southwick of New ew York who vehemently vehemently denounced the bill as u radically socialistic and withdrew declaring his lila Intention to fight It on the floor of tho the House lIou e Mr Southwick signed the call can for tor tho the caucus and has attended the three previous caucuses on the bill The caucus fixed at 66 65 6 per cent the amount of the funds placed In the tho pos poe postal tal savings banks bank that must remain on deposit In banks In each state and ter territory territory and 30 10 per cent as u the proportion proportion tion of funds that the trustees may withdraw for Investment In United States securities The other B i per cent must be held as a n permanent reserve In the United States State treasury This disposition of the funds expected in connection with the proposed postal po savings bank wa provided In the Davidson amendment which wa wu adopted by the caucus The original om bill provided Ii per percent percent cent of o the funds deposited In postal savings banks should hould be deposited In local banks and the same percentage was as authorized to be withdrawn for Investment In United States securities with B S per cent reserve re erve fund In the treasury The voted down the tho Vreeland amendment which extended the per percentage of deposits allowed In the local banks to 71 pr cent cont and the tire Invest Investment most ment In federal securities to 27 per percent percent percent cent The Vreeland amendment was de defeated foaled OR on a vote Tote of 69 9 to 67 n T The Davidson amendment was then adopted with only oalY a n few scattered votes Totes against It IL Speaker Cannon was wu among those who voted first for the Vreeland Vreland amendment and later voted for or th the Davidson on amendment 1 T |