NEWS CONFERENCE 945

thing develops I don't know about. But my position will be taken
well in advance of any indication publicly and irrevocably of where
these delegates are. So I think that answers the question by indicating
that I am not waiting for a trend. I'm going to decide what I'm
going to do and I'm going to support the candidate of my choice.

Q. Governor, when will the delegation caucus?

A. I think our caucus is scheduled for 5 or 5: 30 p. m. Monday.

(Usury Law Test — Mortgages)

Q. Governor, on the subject of the usury law. In the court in Prince
George's County one of the attorneys suggested that if the court does
not clarify the law the way they want it they would take their business
into the District of Columbia.

A. We are very concerned about this matter and I have had meet-
ings with Fanny May — and I don't know how Fanny May came out
of those initials (FNMA), but that's what everybody calls it so I

guess I can too — they are concerned about the law, but they are not
willing to tell us the particular areas of their concern. And when
Mr. Lowe and I met with their counsel we were unable really to get
any information about what type of legislative action was required.
So we are not able to do anything even if we had a special session to
satisfy them, if we don't know what would satisfy them. We feel very
strongly that the court cases have to be terminated and we hope the
construction will be favorable enough to obviate the special session.
But if we had a special session today, none of us would know what
to do — or what kind of language to amend into the law. And there
would be no guarantee, I might add, that after the special session
and the further amendment of the law that Fanny May would then
say "Yes, we will buy Maryland mortgages. "

Q. But rather than let the business go into the District, would you
call a special session?

A. Well, I'm not going to face that point. If I thought the special
session would accomplish any useful purpose, and if I thought the
court decision indicated there was a need for amending the law, I
wouldn't hesitate to call a special session. I have already written to
the Congressmen about this matter and asked them to do everything
in their power to assist in persuading Fanny May to, in the interim
while we are waiting for the determination of the courts, continue
to purchase Maryland mortgages, because I do recognize that this
is a serious hardship in the District-bordering counties of Maryland.