New-York tribune., 1921-02-10
Lockwood Told
Broader Power
Will Be Denied
Legislative Leaders Inform
Senator Fight Is Lost,
but He Clings to Hope
and Plans Floor Battle
Says Faith Was Broken
Untermyer Will Re sign,
Says Chairman, Although
He Must File a Report
Front q Ston corresnondsn.

ALBANY, Feb. 9.--The Lockwood
committees request for broad grant
of power, SO that it might investigate
the mortgage money market, which is
admittedly in bad condition for bor-
rowers, will not be granted by the
Legislature.
This news was conveyed to Senator
Charles c. Lockwood, chairman of the
committee, by Assemblyman Joseph A..
McGinnies, chairman of the Assembly
Ways and Means Committee. Later
MIR. McGinnies's information was veri-
fed by some of the legislative leaders.
Senator Lockwood said that this
means the end Of the usefulness Of the
committees labors. He intimated that
IN SO lar as he was concerned the only
work the committee would perform, if
the Legislature refused to grant the
additional powers, would be to file its
report.
Lockwood Still Hopeful
AS chairman" said Senator Lock-
wood, Il cannot resign, as the report
which is now drafted must vet be filed
However, | am little hopeful that the
Legislature may see the light and grant
the committee the power to inyesti
gate the mortgage market"
Senator Lockwood declared that
broadened powers were necessary to
the solving OF the housing situation,
and that Samuel Untermyer, counsel of
event that the additional powers were
not granted.
Senator Lockwood complains that the
promise of the legislative leaders at
the conference held here Monday,
which was attended by himself and MI
Untermyer, to submit the proposed
amendments TO the Assembly Ways and
Means Committee was not kept.
10 this Mr.. McGinnies, chairman of
the Assembly Ways and Means Com
mlttee,. replied that his committee
fortnight ago reported out the resolu-
tlon in amended form and that the
Assembly passed the resolution in this
form, which is unsatisfactory to SEN
ator Lockwood and Mr.. Untermyer, and
that therefore there could be no hope
Of any change on the part of any
members of the Assembly.
Plans Fight on Floor
In conversation with Senator Lock
wood Mr.. McGinnies is reported to
have said:
"You and Mr.. Untermyer came up
here this week and consulted with
Senator Lusk and Speaker Machold and
Mr. Adler, the majority leader of the
Assembly, and at this conference there
was no representation Of the Assembly
Ways and Means Committee"
Il regret" said Senator Lockwood to-
day, Chat the Assembly Ways and
Means Committee did not accept our
amendments in the right spirit in
which they were offered and give them
the full consideration which we be-
lieve should have been given to them.
The only course left to US now is to
make fight for the amendments on
the floor of the Senate when the mat
ter comes up next Tuesday,"
The legislative leaders take the posi-
ton that the powers now possessed by
enough and that to give it greater au-
thority might lead to disturbance of
the financial market.
After Senator Lockwood learned to-
day that it looked as if the amend
ments sought by the committee were
doomed he left hurriedly for New
York City to confer with Mr.. Inter
myer.
While Samuel Untermyer, chief
counsel for the Lockwood COMMITTEES,
9Gelciined Gl to discuss the attitude OF
Chairman Joseph A. McGinnies of the
Assembly Ways and Means Committee
IN connection with the resolution grant
ing increased powers to the commit
tee. 1t Is understood that he has not
lost hope Of getting compromise
resolution through the Legislature.
Questioned or the reports Of his in
tention TO quit the committee unless
the increased powers were granted. he