Albuquerque morning journal., 1921-01-06

loan market.
This committee, which has star.
tied the nation with its amazing
revelations regarding labor unior
graft and building material.
rings" Samuel Untermer, it
counsel, has announced will nov
seek to prove that the banks an6
savings banks have funds availa'
BILE to invest In mortgages, and thu.
aid building boom.
Mr. Untermyer has stated thai
he is prepared to show these mon
ey lending institutions that they will
be better Off by furnishing none,
for housing. Through publicity
he adds, he hopes to break dowr
the present alleged "bonus" sys
tenn of loans and high interes
rates.
125,O0O Homes Needed.
Without mortgage money build
ing operations cannot be resumed
on q scale wide enough to provide
125,000 homes now needed in New
York, the committees counsel ha.
stated.
Already, according to Mr.. Unter.
myer, the great industrial and fl.
nancial interests of New York arc
carrying on an ''insidious cam.
paign through hired propagan.
dists" to defeat the contemplated
work Of the committee in investi
eating the loan market.
Testimony purporting to show
that combinations Of building ma
terial men and grating labor chief
have robbed the public of millions
of dollars has already been heart
by the committee.
Despite alleged political and fl
nancial opposition, the committed
continues to plunge ahead with it
work and is unraveling facts tina
are attracting nationwide atten
tion,
Three Juries at Work.
Three grand juries are diligentl!
at work grinding out Indictment
on evidence furnished by the com
mittee, but they are so far behinC
in their work that an additiona
panel is to be drawn.
More than 100 indictments have
been returned against builders, ma
terial dealers and labor leaders
charging extortion, perjury, viola
ton of the state antitrust law, de
struction of records, grand larcen!
and contempt of the legislature.
One of the first results Of thu
inquiry which began October 20
last, was the disbanding of the
Cut Stone Contractors association
and the Masons' Supply bureau
organizations of employers admit
tedly operating in restrain of oper
competition. Twenty-nine indicted
stone contractors pleaded guilty tt
violation of the antitrust act ant
were fined $1,000 each, when the.
turned states evidence.
"Ringsp Have Collapsed.
The contractors rings in th'
limestone, marble, plumbing, met
al lathing, fireproofing ant
wrought pipe heating and ventilat
ing and fire extinguisher industry
which are alleged to have held vi
builders for millions of dollars
have collapsed.
John r. Hettrick, lawyer, and al
legged promoter Of severals of tn
rings" is under indictment TO
violation of the state anti-trus
acts. and is held in 100000 bail
He is alleged to have devised tn
"code of practice" under whicl
bids were matched and price
boosted by collective action.
Fifty-two- members of the Mas
ter Plumbers association ar
among the most recent member
of the alleged building trust to b.
indicted for violating the stat
antitrust act, and are held Ii
$1,000 bail each. Sixteen member
of the Employing Metallic Furrini
and Lathing association are hell
for destroying evidence, which the.
admit they had desired to keep ou
of the hands of the committee.
Business Men Indicted.
Three wealthy business men arr
under indictment for contempt
They are John A. Philbrick, mil
lionaire head of the Builders Sup
ply bureau, and Joseph Penny
treasurer of the bureau; ant
Wright D. Goss, the "brick king,
who was actively interested in tn.
Association of Dealers in Masons
Building Supplies. Goss is also in
dicted for acting in restraint o.
trade.
Indictments are expected soon II
the cement, brick, sand, lath anC
plaster, and marble combinations
which are alleged to have had 6
throttle hold on New York since
1915 and to have sent prices W
from 100 to 800 per cent.
Robert P. Brindell, president OF
the Building Trades council. helt
under 100000 bail on indictment.
charging extortion and attempted
extortfon from builders, is sched,
uled to- go on trial early in Janu.
ary, his prosecution to be conduct
ed Mr.. Untermyer. Several o.
Brindell's aids are also held fol
the alleged extortion of graft from
contractors.
George S. Backer, millionaire
builder, held on a charge of per-
jury, will go on trial soon for the
second time, the jury in his first
case failing to agree. Backer IL
alleged to have given false testi.
mony regarding a $4,000 bribe to
agents of Brindell.
Many o. the alleged conspirators
in the "buiIding trust" many OF
them multi-millionaires, have fled
to points outside of the state, where
they are safe from the interference
of the committee. Atlantic City
has a growing colony Of these refu-
gees, it Is stated.
AS result Of the investigation
the city has rescinded more than
$1.000,000 worth of contracts on Its
new courthouse and is investigat-
ing $63,000,000 worth of other city
public work contracts for evidence
of collusive bidding.
One of the most sensational. de-
velopments of the inquiry was tes.
timony regarding alleged methods
employed by the Bethlehem Steel
corporation, subsidiaries of the
United States Steel corporation, and
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