The New York herald., 1921-02-08
EXPECT COMPROMISE
Proposed Probe Avoids
Sweeping Money Investi-
CATION in Housing.
LEADERS, VIEWS CHANGE
Prediction That Hobble Will
Be Removed Follows Con-
ference in Albany.

soessns Desgc:ch TO THE New Yong HEkALr.
New York Herald bureau
Albany, Feb. Z.
Leaders of the Legislature retreated
slightly to-day from their uncompro-
missing opposition to extending the
power Of the Lockwood committee,
when Senator Lockwood Joined with
Samuel Untermyer In declaring there
was no use In trying to go further
with the inquiry II It is hobbled by the
restricted resolution reported out by
the committees and passed by the AS
sembly.
The Senator and Mr.. Unterrnyer
submitted g. new form of resolution,
which in effect gives the committee all
the authority asked for in the original
proposal While it seems unlikely that
this will be adopted in this form. there
is possibility that compromise may
be reached which will permit the COM
mittee to go ahead.
The outcome of the conflict between
the committee and the Legislature still
is in doubt, but Mr.. Untermyer returned
to New York this evening more encour-
aged than for several weeks
The conference was held In Senator
Lusks chamber. and present with the
members Of the committee and the ma
jority leader were Speaker Machold.
Simon l.. Adler, majority leader OF the
Assembly, and Charles J. Hewitt. chair
man Of the Senate Finance Committee.
Change Of Views II Seen.
Mr.. Machold was chairman Of the con-
ference. He said the proposed amend
ment, as submitted by Messrs. Uter-
myer and Lockwood. would be taken
back to the Assembly Ways and Means
Committee for consideration. and that
action one way or the other would be
taken without delay. The Senate lead
ers appeared to be much more inclined
to listen to Senator Lockwood's request
than they were one week ago. The lead
ers evidently are not pleased with the
prospect of being charged with respon-
sibility for blocking their own committee
at this critical stage in its work.
The conviction If Robert p. Brindeil,
the labor dictator. has had great influ-
ence here. This is looked upon as de-
cided vindication for the committee.
The Assembly adopted the emascu-
lated resolution last week after its FL
nance Committee had turned down the
Untermyer petition. If the lower house
changes front 1t will be necessary for It
to reconsider It's vote, amend the meas
ure as requested, and repass It.
Text of the Amendment.
The amendment submitted to-day by
Mr.. Untermyer and Senator Lockwood
reads:
"The committee shall investigate the
form of organization and the business,
practices. management, affairs and in
vestments of all corporations and asso-
Citations that have, among other things,
power to invest funds In real property,
or in bonds secured by mortgage on real
property. In so far as the same may. In
the Judgment of the committee. to any
extent bear upon or affect the past.
present or future condition OF housing,
building or loaning conditions In any OF
the cities of the State. and in so far as
nm investigation OF such form of organ
ization, or such business practices. man
agement. affairs and investments may.
in the judgment of the committee. be
pertinent to any recommendation for
legislation affecting the housing. build
ing or loaning situation that the COM
nittee may deem advisable"
This Is broad enough to allow Mr..
Untermyer to go as far as he wishes
In the proposed investigation of savings
banks and insurance companies.
1t is believed that Senator Lockwood
and his associates have given assurance
they have no Intention of starting q
sweeping money investigation. The COM
mittee has power to curb Its counsel at
any step. II assured the investigation
will relate only to mortgages and other
collateral subjects related to housing. IL
is believed additional power may be
granted.