New-York tribune., 1921-01-16
Senate May Call Open
Lockwood Plar, Henrins

Rapid developments in the crisis
confronting the Lockwood investigating
committee at Albany now indicate that
the Senate Finance Committee is ready
to take one OF two specific actions on
Monday. These are:
First-To recommend that every
thing asked for by the committee in
the resolution before the Legislature
be granted; or,
Second-.A decision to hold public
hearing where the committee and it's
opponents can state their cases in the
open. A
From members Of the committee who
returned from Albany yesterday it was
learned that either of these two
courses Of action would be acceptable.
The attitude of the majority of the
committee members on the second
course was summed up yesterday by
member, who said: 1--WE don't want
anything that we cannot justify or de-
mand in the full light of publicity"
From these same members was
gained general outline of the stand
taken in Albany by the lobbies that are
of the committee. 1t is understood
that the arguments of the opponents
OF the resolution granting such powers
figured largely in the conference be-
tween, Governor Miller and Samuel
Untermyer, chief counsel of the com
lnittee, which lasted more than two
hours.
A strenuous fight is being made by
these opponents against the question
naire sent out by the committee to
financial institutions last November.
on the ground that to answer it would
require in each instance the undivided
attention of every available accountant
Tor a period Of many weeks.
Efforts are being made to obtain a
secret conference for the purpose Of
the resolution now before the Legisla-
ture. Charges are also being made
that any investigation into the fnan-
clal institutions at this time would re-
suit in panic. Charges are being cir
culated in Albany that the committee
is seeking the extra power in order to
investigate the present city govern
ment in New York.
The stand of the committee in con-
nection with these attacks was ex-
planned as follows:
The QUESTIONABLE sent out last No
vember has been withdrawn and a
much simpler one substituted for it,
This second questionnaire has been
"AOCly uiStIlDuteu diuOUE Cue IMAM
cial institutions of the state, and the
majority already have filled them out
and returned them to the committee.
In view of this there can be no further
objection on the grounds specified by
the lobbyists.
The committee under no circum-
stances will agree to any secret con-
ference with any one. 1t will conduct
it's fight in the open on the ground
that it is only asking for those things
that are justified by the actual situa-
tion and circumstances.
With regard to the statement that
an investigation of financial institu-
tions would tend to precipitate panic,
one of the members of The committee
expressed the opinion Of the majority
by saying: "If such an investigation
were planned during the period of
boom, the answer would be: Keep your
hands off, don't interfere with this
wave Of prosperity; if the times were
neither good nor bad, the answer would
be: Don't do it just now. Wait till
we see which, way we are headed"
In connection with the final attack
that is being made against the reso-
luton, it was pointed out that the com
mittee had repeatedly gone on record
as being absolutely opposed to any
investigation of the city's affairs.