Show BANKERS OF NEW NEVI ENGLAND OPPOSE REGIONAL PlAN Divergent Views in Senate Senat Committee May Prevent Agreement on Bill SHUT DOWN ON HEARINGS HEARING Hope to Finish Early Next Nex Week Witnesses Object to Political Control WASHINGTON Sept 26 With W vy enough witnesses desirIng to b be heard to con consume two or three weeks week s of time and requests for hearing orthe on or the administration currency bill still stil coming In the time Senate committee adjourned ad Id- Id toda today until Monday on The da day had been spent hearing protests o of ot New England bankers against provisions provi Ions of ot the currency bill Tho Time committee committee com corn will resume on Monday with c a continuance of ot the examination of ot Samuel who spent a a. pan part of ot two days das before beton the committee tim this week col The hearings up to date have hn de developed developed de- de a wide range of or disagreement amon among the members of oC the thc committee So divergent have ha been tho the views expressed cx- cx pressed in the examination of or witnesses that some omo members rs believe belle the com com- Po mUtee will be unable to upon a bill bilt built along the lines hues of ot the administration administration administration ad ad- ad- ad ministration measure If Ie the disagreements continue It Is possible that after the time views of or bankers and anti business men molt from all over the country countr have havo been considered an at- at will nl be made to report the bill to the Senate without recommendation In this event a R. series of ot minority re reports re- re ports probably would accompany the tIme measure each cach condemning different provisions or suggesting different chan chancres es Although scores of ot requests arc being received from prospective witnesses for tor foran toran foran an opportunity to be heard Chairman Owen said ald today tho the hearings bearings could be concluded b by the e middle of ot next week J one who has a right to be heard hear can be bo heard by br that time said Senator Owen The New ew England delegation was lIlian DlInn vice vico mended headed b by Charles P P. dent of or tho time National Bank of or Boston floston and mad president of ot the Massachusetts Bankers association He lIe said that hat correspondence correspondence cor cor- with banks In New Now England Eng EnS' land and showed a n g general noral opposition and presented resented figures Intended to show sho that the he regional reserve C banks banIs would ca cause sa a 3 t temporary contraction of or credit I F A A. Drury of ot Worcester Mass bankers of New ew OkO for country spoke tho England He Ue said MId that while tho small banks were In favor tavor of or some provisions pro pro- the believed Its visions of or the time bill they them rho Tho principal prin prin- demand too ton hea heavy on un cipal objection he lie said was that country coun tr try ry bankers believed the time system would tho tIme control take talce awa away aay from front themselves of or t part of or their capital and antI would place Ilace placeIt It t In the hands of or politically controlled bO boards 01 rd s. s Control nIDd Chicago o Sept 26 George George M. M 1 r. r t I ne Reynolds president of or th the Canta Continental Cant Conti a en tal Commercial National bank banI lull bill before beforetime currency discussing tho time flankers Bankers association the time Illinois nob declared that It would put the whole fabric of oC CI credits Into politics Ho no members out five fl said that with board of proposed of ot the tho sever sep of the tho time b by the President control l appointed members not riot thus consent of ot the two be bc required before appointed certain fundamental st steps ps co could ld bo ho taken en The Tho consent c of C tim tho minority should before lH be be before Reynolds Mr 11 I be bc c 1 ar said fore tho the board of ot control can reserve o bank or federal officer an of or a l I discharge a director or require one Continued on PaSo Page 8 8 Column 1 L BANKERS OF NEW ENGLAND OPPOSE REGIONAL PLAN Divergent Views in Senate Committee May Prevent Agreement on Bill Continued from Pago Page 1 federal reserve reser bank to discount for another A resolution Indorsing the tho resolutions resolutions resolutions of the hankers bankers conference hore bore last August Au which found foun much fault with the cur currency oncy bill wag vaa adopted X ka Oppose Bill DIU 26 The Nebraska Lincoln Nob Sept The ka Bankers Bankers' association 8 at n t Its I concluding concluding ud- ud ing session this c evening announced op opposition opposition opposition op- op position to the administration currency bill b by declaring rinh Its chief t provisions pro too radical and a 3 departure from safe sat banking methods methode Tho The resolutions adopted b by tho the association asso asso- declare In favor CaVal of a revision of or the pending bill along along- the lines IInes advocated advocated ad ad- at nt tho the Chicago conference of or bankers and sa say that five Instead ad of oC twelve federal reserve banks b should be maintained Membership In tho the federal reserve banks should b bo optional instead cf rt compulsory It Is contended because o It ItIs Itis Itis is asserted it In is an injustice to small country banks banke which can never G. G poet poetto to reap any b by becoming members mem- mem bers bora Tho The resolutions concede tho the right of the gov government to regulate national ban bands dp but Insist that only bank owners own ers ors should operate and control |