Show Law Asked tF i. i To Help Cities Cut Debts a 1 evelt eve It Pi Proposes o p pRates Lowering vering n of Intel Interest o Rates in Modified Measure l WASHINGTON Feb 9 A A federal bankruptcy l law ay en en- their interest In rest pay pay- paya to reduce their outstanding debts and tI a appeared and to be In the offing Thursday as the W WhIte House the treasury department turned their attention to municipal I resident Roosevelt It is r ria ris ris r- r is ia in favor or of oC allowing used eased deb debtor tors including cities tall fall into such a class to tor r sr a modified bankruptcy un un- o which they could with the ant ent of a substantial part heir creditors creditor scale down don debts and interest rates f thou though h the pr president ident i is said laid eel feel that all III debtors debtor foreign domestic should be offered an opportunity under fed fed- bankruptcy Jaw law Indications r e that cities will be among amont first to get relief relic of ot Detroit eland and Toledo called on onry onry ry of the Treasury Morto Mor Mor- thau to see Jee if it they could obaid ob- ob aid on 11 defaulted or matur matur- bond bend blues promised to go gothe gothe gothe the whole hole question of fed fed- lid aid for cities clUes with a commit commit- headed beaded by Pr Professor S. S E E. Led Ley Leid Le- Le id d d. d finance expert next Mon Mon- Mr y Roosevelt believing the selling scaling down of oC debts lit felt t one Leone of cf the most important i ahead of oC him tee feel feeLs that to should be willing witling allow debt readjustments which the debtors debtor chances of oC g back the principal of oC his hisa lia a eventually According to the presidents president's W N the holder of oC a loan draw draw- ig hg C I per cent interest should be ailing illint filing to refund the loan at a aate ate te as U low Jow as u 4 or 5 S per cent doing so he eases cases the strain IJ r r. What Congress Plans Pian SENATE D Debates bates C W A Appropriations subcommittee considers interior d department bill HOUSE BOUSE Considers private bills Labor committee hears hear President President dent William Gr Green en of American American Amer ican Federation of oC Labor on 30 hour 30 hour week bill Military committee opens hearings hearing on army airplane contract contract con con- tract profits profit naval committee continues similar hearings Immigration committee opens hearin hearings on naturalization bills on the debtor sufficiently to make he debtor in the long run nm better able to pay back the original sum loaned Similarly the president is iJ said laId to reason that a reduction in the principal as well as 81 the interest rate of some loans loan would enable debtors eventually to pay them off oft The new law would be similar to that enacted for tor the benefit of I corporations |