Show PASSAGE OF oc OFIS CREDIT BILL BILLIS IS PROMISED I Measure Expected to Reach Hoover for Final Action Next Week HOMEBUILDING PEPPED President to Establish Mortgage Mortgage Mortgage Mort Mort- gage Finance System n By Br United Pm WASHINGTON Jan 14 Passage 14 tomorrow of the administrations administration's 2 2 business credit project e t was wa promised by the house toda today The house this afternoon took tool amendments to the reconstruction finance finance finance fi fi- fi- fi nance corporation measure the last las procedure before a final vote The senate already has approved the measure measure measure mea mea- sure but differences between the house louse and senate bills will require conferences Thus the prospect is that hat the measure will go to President President dent Hoover early next week The president is understood to be ready to start the corporation almost at once on its mission of injecting a new stream of or government credit into weakened businesses Although the senate senale stood ad for the thc day a subcommittee was busy with the third of Mr Hoovers Hoover's Hoo Hoo- vcrs ers emergency relief proposals proposals-a a measure to establish a system of home loan discount banks to stimulate construction construction construction con con- of homes and to aid those now burdened with mortgages The proposed banks would finance mortgages mortgages mortgages mort mort- gages of or less CONFER ON BILL The administration bill to increase the capital of the federal land banks was in conference for adjustment of oi differences between the house and the senate The house hous voted and the senate As soon as they agree on the final form of the measure it will be sent to the White House Two congressional committees heard testimony designed to show that Secretary of the Treasury Mellon Mel Mel- Ion lon was interested in a vastly rich oil concession in the South American republic of ot Colombia Some of the evidence was presented to the house judiciary comm committee which is considering considering consid consid- ering the demand of ot Representative Patman Democrat Texas that Mellon Mel Mel- Ion lon be impeached Banking aspects of the Colombian oil oU concession negotiations negotiations negotiations were developed by the senate committee investigating foreign loans DEMAND REDUCTION A demand for a 10 per cent reduction reduction reduction tion in government expenses was made before the house ways and means committee b by C. C B. B Clark of Detroit representing the National Retail Retail Re Re- tail Dry Goods association tax ux increase increase increase in in- crease bill calling for additional federal fed fed- eral cral levies of nearly The house expenditures committee a agreed reed to hold hearings soon on President President Pres Pres- ident Hoovers Hoover's plan for a new government government govern govern- ment bureau to handle all federal construction work It will also hear arguments on the supported strongly Democratic proposal for consolidation of the war and navy departments 41 I |