New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-10
Unter1nyer
May Quit as
investigator
Friends Believe He Will
Leave Housing Inquiry
if Legislature Fails
to Extend His Powers
Financiers Would
Shield Companies
Lobby Works to Exclude
Insurance and Casual
ty Concerns and Banks

II the Legislature fails to grant the
Lockwood committee, which has been
investigating building conditions, such
additional powers as will enable the
committee to inquire into the business
OF insurance companies, savings banks.
casualty companies and other institu-
tlons engaged in making loans for
building purposes, Samuel Untermyer.
chief counsel for the committee, NAV
abandon altogether that phase of the
proposed investigation. It NAV even
make it doubtful whether Mr.. Inter
myer would remain with the committee
in any capacity.
This was learned yesterday after
members OF the committee heard that
the Legislature is not inclined to give
them the additional powers they ask
and which Mr.. Untermyer has said are
necessary if the building situation is
to be gone into thoroughly. A bill is
now pending at Albany not only to
continue the life of the committee.
which technically expired on January
l, but to give it practically unlimited
scope in subpening the heads of big
financial institutions.
Chief Powers Asked
The chief points of the additional
power asked are:
To extend immunity to witnesses, so
th at thew cannot rofuso - ,,r,
the ground that their testimony might
incriminate them.
10 Investigate the organization, man
agement and investments of financial
institutions engaged in or related to
the building industry, mortgages or
loans.
Mr.. Untermyer prepared the pending
resolution to broaden the committee's
scope. He indicated that the COM
mittee's future work would be handi-
capped without the additional power
asked. In memorandum submitted
with the proposed measure he said in
reference to the original resolution
creating the committee:
"The resolutions under which it is
acting are inadequate to enable the
committee fully to gather facts re-
quircd as a basis for comprehensive
study of the subjects delegated to it
for investigation. In order to correct
the defects and remove these and other
embarrassments that the committee
resolution is recon-
mended."
Mr.. Untermyer declined yesterday to
say what stand he would take if the
committees demands for more power
were denied, but his associates re-
called that he had declared previously
that it would be futile to continue the
inquiry into the housing situation if
an important branch of the industry
were sealed against inquiry. When he
took charge of the legal side of the
investigation he criticized the original
bill creating the committee on the
ground that financial interests were
opposing certain phases of the pro-
that as the investigation proceeded he
would ask that the committees powers
be enlarged.
Governor Is Silent
1t was expected that Governor
Miller, who was in the city, would hold
a conference yesterday with state Off
cials concerning the future of the Lock-
wood committee. Governor Miller re-
mained at his apartments at the Hotel
st Regis without seeing either Mr..
Untermyer or Senator Lockwood, chair
man of the committee.
When asked what he thought ought
to be done about the committees fu-
ture Governor Miller declined to be
quoted. He said he had not considered
the subject.
Senator Clayton r. Lusk, majority
leader in the Senate, also was expected
to have conferred with Senator Lock
wood, but, instead, Senator Lusk an
nounced he had written letter to
him asking him just what the commit
tee proposed to inquire into.
When asked specifically whether the
would be given a free hand
to investigate insurance and banking
business as a sidelight to the building
Senator Lusk said he would
make no comment. He then dictated
a brief statement, which read:
"There is no question that the Legis-
lature will continue the Lockwood COM
mittee with all the powers granted un-
der the previous resolution and that
it will be given ample power to in
vestgate all matters affecting the
housing and construction situation. |
have requested the chairman of the
committee to send me letter stating
what lines he intends to investigate.
CONTINUED on next paee)