The Barre daily times. (Barre, Vt.) 1897-1959, 1921-01-14
STATE REGULATION
OF TRADE CONCERNS
Will Probably Be Recommended by
Samuel Untermyer to New
York Legislature.

New York, Jan. l4.-State super.
vision and regulations of all bust
ness and trade associations by state
trade commission, probably will be one
of the recommendation made TO the
New York legislature by the joint leg
islatiye committee investigating the
building trust"
The report will be drawn up by Sam
uel Untermyer, counsel to the com
mittee, and viii contain suggestions
for remedial legislation to correct the
abuses exposed by the committees
probe and stimulate the building Of
homes.
The committee also is reported to be
preparing proposal for compelling
savings banks, life insurance compa-
MES and other financial institutions
over which the state has control to
invest large part of their assets in
real estate mortgages
Under the plans for regulation Of
trade associations, bipartisan com
mission would have power to examine
costs and to fix reasonable and fair
profits in the various industries. A
uniform system of accounting would
be required of all members of the in
dividual associations
No agreement between firms or in
dividuals relating TO trade practices
might be entered into without the APP
proval of the commission. For bust
ness firms to form an association or
enter into an agreement with other
firms. without authorization. would au.
tomatically render them guilty of
crime
Mr.. Untermyer believes that some
such form of regulations should be ex
tended not only to the building trades
but to all other forms of industry,
since he believes trade associations are
accomplishing in practically every
business field what has been done in
the stone, brick, plumbing and allied !
industries. Where the element of price |
regulation enters, it would make neces
sary the establishment of uniform /
systems of bookkeeping so that cor
rect figures might be obtained from
which to study profits
Besides the commission, il is stated /
that a host of other regulations aimed .
at abolishing unfair trade practices /
viii be asked and statutes will be sug-
gested to restore the free flow of open
competition which formerly prevailed
Members of the committee have in
timated that they hope the proposed
state trade commission may serve as
the basis for federal body of similar
scope with powers to regulate nation
al trade bodies along the same lines
BY the interstate commerce
commission in connection with the rail
roads.
Life and fire insurance companies,
savings banks and like institutions.
that are holding in trust the savings
Of the people. Mr.. Untermyer declares.
should be Compelled TO invest the
bulk of the trust fund SO held by
them in first mortgages on unencum-
Dered, improved, revenue-paying prop
arty in the great cities to the extent
IF not exceeding two-thirds of the act
nal appraised value of the property"
with the processes Of the law at
he heels of the criminal cor lima
ions" he added. "and the legislature
-NNbhlHEAtE tuN@Al lNu anu At eiit
our great financial savings institu-
iame time adding to the stability of ,
'ur great financial savings institutions
~ requiring them to put the bulk Of ,,
heir new investments into real g.
ate mort Cages, the housing problem
nd the evil of rent profteering would ,
Don solve Themselves"
The report Of the committee will he /.
rafted by Mr.. Untermyer Immediately I,
fter the banking and insurance IN :
uiry has been completed. This phase !.
+ the Investigation will be taken Up
nder q new resolution enacted by the
legislature giving the committee full I
to make thorough probe
nto the affairs Of the financial organ
zations.