New-York tribune., 1922-03-08
untermyer, ,Lockwooda and
Many of Committee Are
Ready to Quit if Legis-
lature Refuses Relief
Appeal TO Miller
AS a Last Resort
Expose of InsidiousLohbv
Against Proposed Laws
Threatened by Probcrs

oa!nlci Ontermyer, chief counsel to
VNc Lockwood housing committee; Sen
alor charles c. Lockwood, its chairman.
ana group OF its members will resign
II the more important constructive
measures proposed BY Tire committee
ioT the relief of the housing shortage
are not passed by the Legislature.
This was learned from an authorita-
Two source close to the committee YES
terday, shortly after it had been re-
ported BY Senator Lockwood that prac-
tlcally all the seventcen bills offered
as solution Of the housing problem,
excepting those dealing with the cx-
tension and amendmont Of the present
rent laws, had been marked for slaugh-
ter.
1t is understood, according to this in
formation, that these men, upon with
drawing from the committee, will make
public statements in explanation Of
their action and expose one of the most
powerful and insidious lobbics in the
Hold Conference at Albany
Nj. Untcrmyer left for Albany at
1880 o'clock yesterday afternoon and
rad q conference with members OF the
committee behind closed doors upon
his arrival there last night.
Hc is to appear at the public hear
ing before the Senate Cities Committee
at 2 o'clock this afternoon in support
Of the Lockwood committees numerous
recommendations. Ic is expected to
tell the Legislators frankly that, unless
the important measures are passed, it
is useless for the state to spend any
more money for the further mainten-
ance sf the committee, and that his
continued association with it as coun-
sci would be a pure waste Of time.
1t is Mr.. Untcrmyer's position that
every biz Of evidence adduced before
form of proposed legislation looking to
the relief Of the housing shortage, and
that If this legislation is not put
through much OF the committees work
is nuililied. Mr.. Unternlyer will not
remain content 70 fight for the bills
before the Legislative committee, but
will carry his case to the Governor
who holds the key to the situation.
,..-- Saving Of Millions Seen
One Of the first steps Mr.. Untermyer
is expected to take is to seek to find
out why the bill giving insurance COM
panies the right to invest 10 per cent
Of their assets in apartments renting
for So room has been languishing in
committee for FIVE weeks. Certain
legislators, in the face Of this, now
offer the excuse that this bill, together
with some others, was introduced "too
late for action
With respect to the proposal for a
state monopoly Of worl,men's compcn-
sation insurance, Mr.. Untcrmycr will
argue that this bill, together with that
providing for state supervision Of all
insurance, will save the residents of
the state about $l00,0O0,000 a year
and the nation from $300,000,000 to
$500, 100000. 1t was shown at the com
mittee's hearings that under the pres
ent system the state does only 3 per
cent of the workmens compensation
business, but even on this basis saves
10 per cent to premium payers. "a
state monopoly, it is contended, Will
save premium payers about S4O,O0o,OO0
year
With regard to a general supervision
Of all forms Of insurance Mr.. Unter-
myer will argue that about 25 per cent
can be saved to residents of the state
on the ground that mutual companies
return this much to their policyhold-
CTS and still make a profit.
Would Drop Speculative Stocks
Mr.. Untermycr also is expected to
push the bills requiring insurance COM
panies to dispose Of their speculative
securities within five years and prevent
their making any further such invest
n,ents. He also will urge the passage
OF the bills requiring insurance com
panies to invest 80 to 40 per cent of
their investment money in mortgages
MIR. Untermycr shortly before his
departure. for Albany was visited by
a delegation Of the building trades
unions. who sought his aid in the pend
ing situation between the employers
Continued On page thres)