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April 8, 1933

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Headlines from April 8, 1933

BANKING REFORM DRAFTED; Huge Corporation Will Stand Behind Federal Reserve Members. STEP TO UNIFIED SYSTEM Compromise of Glass-Steagall Bills Will Go to House Monday for Speedy Action. BRANCH BANKING COVERED Divorce of Security Affiliates and Stiffening of National Banks' Structure Provided. BANK REFORM BILL TO INSURE DEPOSITS

By Special to THE NEW YORK TIMES

Bill drafted providing for ins on deposits in Fed Reserve member banks, divorce of security affiliates in 2 yrs, prevention of interlocking directorates, stopping payment of interest on checking accounts in Fed Reserve member and natl banks, possible prohibition of banks lending money to own officers, authorization of State-wide branch banking, and increase in minimum capital for natl banks

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Notable Births

1933James Lockhart, American scholar of colonial Latin America, especially Nahua peoples (died 2014)[โ€ ]

James Lockhart was a U.S. historian of colonial Spanish America, especially the Nahua people and Nahuatl language.