Show WILSONS PET PROVISION 15 AMENDED Committee Cuts Regional Reserve Banks From Twelve to Four WASHINGTON Nov 1 The I.-The The senate banking ranking and curren currency y committee last night tentatively agreed on four re- re gional r reserve serto banks bauks for tb the proposed new nen currency system with a proviso that after two years the federal reserve re IC- rc- rc serve sena board boud may add is as i many banks asit as asit asit it it deems necessary not exceeding twelve The pending bill fixes the number num num- ber bet at twelve and it ha has been understood under stood toad that the administration would not consent to have it reduced below nine The sharp reduction in the number of reserve banks was the fir first t radical amendment the committee has agreed upon and it wa was rail earnestly opposed ed by bytho bytho bytho tho administration supporters in the committee Senators 0 Gorman OGorman and Hitchcock however ot voted with the five Republicans for the reduction leaving lea but five Democrats Owen Democrats Owen Pomerene Hollis HoWs Heed and behind the tho administration proposal Central Bank Plan Pending The committee still has hM pending tho the I proposal to abandon entirely the administration administration admin admin- regional plan and to lo create a government o controlled central bank There is also pending Senator Reeds Reed's prop prop-o proposal l that the unification of the original banks be bo accomplished by the creation of a government clearing clearinghouse bouse which would act net as a n. reserve reservoir Tho question of oC the and stock ownership of ot the proposed regional regional re reo gional banks was wag tal talen m up immediately after tho the number was tentatively fixed but hut no decision was reached in the tho mat mar ter To Cut Out Compulsion Chairman Owen after the committee expressed ed the opinion that the bill would be amended to eliminate the administration provision under which h national banks would be forced to subscribe the capital of ot the tho reserve reserve re reo re- re serve banks The stock tock he said pr probably b. b abl ably would bo he thrown open to public f subscription Sto Stockholders would have no voice in the management of the banks ho be said which would be in in- trusted to a bo board rd of directors to be bo appointed by the tho federal reserve board thus insuring complete comple government con con- ii- ii roI of the e new system Tho total c cap cap- p. p itah of the four regional onal banks bank II Senator Owen said would probably amount to |