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COMPROMISE OF LIABILITY OF SHAREHOLDERS IN

FAILED NATIONAL BANKS

FEBRUARY 8, 1930.-Referred to the House Calendar and ordered to be printed

Mr. McFADDEN, from the Committee on Banking and Currency,

submitted the following

REPORT

[To accompany S. 544)

The Committee on Banking and Currency, to whom was referred the bill (S. 544) authorizing receivers of national banking associations to compromise shareholders' liability, having considered the same, report favorably thereon with the recommendation that the bill do pass without amendment.

This legislation has the favorable recommendation of the Secretary of the Treasury and the Comptroller of the Currency.

Its purpose is to authorize the receiver of a national bank, with the approval of the Comptroller of the Currency and upon the order of a court of competent jurisdiction, to compromise, either before or after judgment, the individual liability of any shareholder. When enacted into law this legislation will to a large extent expedite the settlement of affairs of failed national banks.

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718T CONGRESS HOUSE OF REPRESENTATIVES 71st

BRIDGES ACROSS MISSOURI RIVER BETWEEN COUNCIL

BLUFFS, IOWA, AND OMAHA, NEBR.

FEBRUARY 8, 1930.-Referred to the House Calendar and ordered to be printed

Mr. ROBINSON, from the Committee on Interstate and Foreign

Commerce, submitted the following

REPORT

[To accompany S. 2763]

The Committee on Interstate and Foreign Commerce, to whom was referred the bill (S. 2763) authorizing the cities of Omaha, Nebr., and Council Bluffs, Iowa, and the counties of Douglas, Nebr., and Pottawattamie, Iowa, to construct, maintain, and operate one or more but not to exceed three toll or free bridges across the Missouri River, having considered the same, report thereon with the recommendation that it pass.

The bill as amended has the approval of the War and Agriculture Departments, as will appear by the letters attached and which are made a part of this report.

DEPARTMENT OF AGRICULTURE,

Washington, January 16, 1930. Hon. W. L. JONES, Chairman Committee on Commerce,

United States Senate. DEAR SENATOR: Receipt is acknowledged of your letter of December 23, transmitting a copy of a bill, S. 2763, with the request that the committee bé furnished with such suggestions touching its merits and the propriety of its passage as the department might deem appropriate.

This bill would authorize the city of Omaha, Nebr., or Douglas County, Nebr., or the city of Council Bluffs, or Pottawattamie County, Iowa, or any two or more thereof cooperating, to construct, maintain, and operate not to exceed three bridges and approaches thereto across the Missouri River, one at or near Farnam Street in Omaha, one at or near South Omaha, and one at or near Florence, Nebr. Said agencies would be authorized to operate such bridges either as free or toll bridges, but if operated as toll bridges the rates of toll shall be so adjusted as to meet the annual maintenance, repair, and operating costs and provide a sinking fund to amortize the cost of the bridges and their approaches within a period not to exceed 15 years from the completion thereof. The bill would also authorize said agencies, acting jointly or severally, or any board or commission created by law to carry out the privileges which the bill would confer, to acquire by, purchase or by condemnation the existing private toll bridge across the Missouri River between the cities of Omaha and Council Bluffs and to repair or reconstruct the same and operate it as a toll bridge subject to the same limitations as provided in the bill with reference to the construction of a new bridge.

The only highway bridge which now crosses the Missouri River at Omaha is a private toll bridge. The city of Omaha has been endeavoring for several years to acquire this bridge at a reasonable price but so far has been unable to do so. There is quite a local controversy concerning the matter and the proposed legislation would appear very timely and should be helpful to the city in its endeavors to acquire the existing bridge at a fair price. The department, therefore, would recommend favorable action on the bill. Sincerely,

ARTHUR M. HYDE, Secretary.

WAR DEPARTMENT, January 4, 1930. Respectfully returned to the chairman Committee on Commerce, United States Senate.

So far as the interests committed to this department are concerned, I know of no objection to the favorable consideration of the accompanying bill (S. 2763, 71st Cong., 2d sess.) authorizing the cities of Omaha, Nebr., and Council Bluffs, Iowa, and the counties of Douglas, Nebr., and Pottawattamie, Iowa, to construct one or more, but not to exceed three, toll or free bridges across the Missouri River.

PATRICK J. HURLEY, Secretary of War.
O

BRIDGE ACROSS LITTLE CALUMET RIVER, COOK

COUNTY, ILL.

FEBRUARY 8, 1930.-Referred to the House Calendar and ordered to be printed

Mr. Denison, from the Committee on Interstate and Foreign Com

merce, submitted the following

REPORT

[To accompany H. R. 8970]

The Committee on Interstate and Foreign Commerce, to whom was referred the bill (H. R. 8970) granting the consent of Congress to the State of Illinois to construct a bridge across the Little Calumet River on Ashland Avenue near One hundred and thirty-fourth Street, in Cook County, State of Illinois, having considered the same, report thereon with amendments, and as so amended recommend that it pass.

Amend the bill as follows: Page 1, line 4, before the word “bridge”, insert the words "free highway".

Line 9, after the word “meridian,” insert the words "in Cook County, Illinois,'.

The bill as amended has the approval of the War and Agriculture Departments, as will appear by the letters attached and which are made a part of this report.

WAR DEPARTMENT, February 1, 1930. Respectfully returned to the chairman Committee on Interstate and Foreign Commerce, House of Representatives.

So far as the interests committed to this department are concerned, I know of no objection to the favorable consideration of the accompanying bill, H. R. 8970, Seventy-first Congress, second session, granting the consent of Congress to the State of Illinois to construct a bridge across the Little Calumet River on Ashland Avenue near One hundred and thirty-fourth Street, in Cook County, State of Illinois.

This bill is, however, practically identical with H. R. 7958, Seventy-first Congress, second session, upon which a report was submitted under date of January 14, 1930. It appears that the two bills contemplate the authorization of one and the same structure, and that it is not the intention of the State of Illinois to build two bridges over the Little Calumet River at this point. While this department offers no objection to the passage of either bill, the passage of both seems unnecessary.

PATRICK J. HURLEY,

Secretary of 'War.

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