Washington, Mar. 2.
Senator Carter Glass, Democrat of Virginia, to-day introduced a bill in ihe Senate which would drastically control bank holding companies.
Bank holding companies were recently. pointed out by President Roosevelt as one type which would have to be "wiped out" of. America's financial structure.
The Glass Bill would prohibit the formation of additional bank holding companies and prohibit existing banks from acquiring control of additional banking institutions. It also would prohibit banks controlled by à bank holding company from establishing additional branches and prohibit banks controlled by a bank holding company from making loans to of hates, purchasing securities from affiliates, or make loans secured by affiliates' stock.—United Press.
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