The New York herald., 1921-01-30
L0CKW00D'S MEN
,T0DROPPLAN FOR
! FINANCIAL QUEST
Head of Committee Confers
With Untermyer Over
Action in Albany.
INQUIRY TO END SOON
Investigators Are Being
Urged to Go Into Trac-
tion Situation.
INQUIRY TO END SOON
: Defence BY M'WHINNEY
Upholds His Stand on Resolu-
ton He introduced and De
plores Criticism.

After a talk between Senator Lock-
wood, chairman of the Legislative Com
mittee on Housing, and Samuel Inter
myer, chief legal adviser, it appeared
yesterday that the committee and its
counsel are inclined to abandon all
plans for an investigation Of the rela-
ton OF large financial institutions to
the building problem.
The general feeling seems to be that
the treatment to which their proposal
for increased powers has been sub
jected in Albany has wrecked their
hopes of thorough inquiry, and that
II would be folly to start one that con-
not be thorough. This may mean that,
despite the fact that the resolution as
II appears likely to be passed will
grant the committee new life and the
power to extend immunity TO certain
witnesses, the investigating body will
close shop soon. E~
Within the last few days the members
OF the committee and .its legal staff
have received many letters from persons
who are anxious to have-it undertake
some inquiry into the traction situation.
asserting that the crumbling Of New
York city's old transit lines and failure
to keep up the pace OF building neces-
sary in growing city. are a most
serious menace. s}
These letters point out that large
sections OF the city are unavailable as
residential sections owing to the lack OF
proper transit facilities. AT present,
however, there appears little likelihood
Of the Lockwood committee undertaking
any inquiry into this complex situation,
which is hardly within the scope Of its
powers. Y
McWhinney Assails Critics.
Assemblyman Thomas A. McWhinney.
member of the Lockwood committee,
who introduced the resolution asking
for full powers for an investigation OF
the banks and insurance companies and
then suddenly turned against 1t. issued a
reply to his critics yesterday.
81 am amazed and shocked at some
Misrepresentation as to my attitude
rega riding the resolution passed by the
Assembly extending the life of the Lock-
wood committee" he said. Such mis-
representations are unworthy OF an
honest press. I want TO emphasize most
emphatically three things:
First. ] never 'hamstrung' or turned
on the Lockwood committee. Second. /
did not reverse or 'iiphop.' Third. No
lobbyist or other person Influenced my
vote, nor do ! believe they influenced
any other affirmative vote on this reso-
luton. / never talked to or had any
conversation with any person represent
Ing any banking. insurance or trust
company or any other financial corpora
ton on the subject.
"On the other hand. I believe that
number Of men who voted negatively did
30 because they feared the criticism Of
certain New York newspapers, which
think they can COW and browbeat the
Legislature. This, after all, is the most
insidious kind of lobbying, for II tends
TO make towards of men who are faith
fully trying to do their duty. / vote
according to my own conviction and
conscience, and when / believe / am right
I fight in the open, regardless OF what
newspapers or individuals may choose
70 say.
There Is no secret about my attitude
or the attitude of the Legislature re-
garding the resolution. The facts are
Amply these: The Lockwood committee
was seeking adequate power to investi-
gate the housing situation In all its
phases, including the action and atti-
tude of savings banks. financial institu-
tons and insurance companies in maxi
Ing mortgage loans
Finds View Is Incorrect. &
"I introduced the resolution in the.As-
sembly giving the Lockwood committee
the power not only to Investigate hous-
ing in all its phases but also. power to
investigate the insurance companies and
financial institutions generally. because
had been informed II was necessary
for our purpose. This. ! am now ad-
vised. was not a correct view. This
resolution was referred TO the Ways and
Means Committee OF the Assembly. A
similar resolution OF the Senate was re-
ferrcd 20 the Finance Committee Of that
body.
ct personally went before the Ways
and Means Committee and for two hours
urged the reporting of my resolution
unamended. / likewise requested Sena-
tor Thompson Of my district who is a
member OF the Finance Committee OF
the Senate. TO support the resolution as
introduced by Mr.. Lockwood. which he
did. Tho Ways and Means Committee
members OF the Lockwood Committee
representing the minority, refused 70 re-
port my resolution unameuded. but
unanimously reported tho amended res.
oiution, which was subsequently passed
by the Assembly. on the ground that the
amended resolution was sufficiently COM
prehensivo TO make any appropriate
financial investigation germane to the
housing inquiry
After the ways and Means Commit.
tee had unanimously reported tho
amended resolution 7 did not accept Il
or decide 10 support II until 7 becan1,
convinced that this resolution as amend
ID xavc our committee adequate power
10 accomplish its purpose. Y was ad.
wsed and still believe, nrat this amend.
I'd resolution gives our committee The
broadest kind OF powers TO investigate
banks. insurance companies, trust com.
panics and all financial and other cor
porations. IN no far az their actions n
any way affect the housing or mortgage
s.ttatIon, the cost OF loans and so forth
FoUR NEGROES SUE BARBER.
SrRiSdfrEfu. aIasss.. JAN. ss.-1thFfsc:
~ ,.-o r<trltiot1 nv, f1eure,s<< z n In.