The New York herald., 1922-03-17
INSURANCE MEN win
WHEN SENATE KILLS
3 LOCKWOOD BILLS
40 p. {. Real Estate Invest
ment Measure Beaten by
Vote Of 25 to "a.
JAILING BILL FAILS
Bill Permitting Appeals
From Dismissed Indict-
ments Also Beaten.
TRADE BOARD VOTE OFF
Assembly Defers Action on
Housing Measures Till SEN
ate Is Through.
TRADE BOARD VOTE OFF
'peeiai Dispatch to THE New Yonk HERALD.

Special Dispatch to THE New YonK HERALD
New York Herald Bureau.
Albany. March I6.
The Senate to-day defeated three OF
the Lockwood committee bills, passed
another and left fifth for considera.
tion tomorrow, the last day of the
session.
The three bills lost to-day were
those making compulsory prison SEN
tences for violations of the antitrust
laws; permitting appeals from dis
missed indictments and compelling
insurance companies to invest 40 per
cent. Of their funds in real estate.
The Senate passed the measure
giving the State superintendent OF
Insurance power to fix fire and in
surance rates. At the request OF
Senator Lockwood the bill to create
State Trade Commission went over
until tomorrow. The Assembly still
waited for the Senate to complete it's
program before taking up the Lock
wood measures.
Samuel Untermyer was on the scene
all dcy trying TO save the three bills
that were defeated. No one can tell
what will be the final outcome. as the
Lockwood program Is still tied up in
the red tape Of legislative procedure.
The Senate has now passed thirteen
Lockwood bills, which included the
minor measures.
Insurance Bill Beaten Again.
In spite or the amendment exempt-
ing all insurance companies with ass
sets of less than s5.oOO,o00 the Senate
for a second time defeated the bill re-
quiring insurance companies to invest
40 per cent of their funds in real
estate. The vote was 25 TO "a. Sem
ators Fearon Of Syracuse and Wiswsll
Of Albany led the fight against IL.
Senator Fearon declared that there
was no provision in the bill for its
enforcement Senator's Tolbert and
I.usk replied that the Superintendent
Of Insurance had plenty Of power.
This bill is nothing but window
dressing" Insisted Senator Fearon.
Senator wiswal declared that x
would only do two things-"hand
bunch OF headaches 10 the Superin-
tendent of Insurance and crack joke
on the State OF New York"
Senator Lockwood moved TO discharge
the Cities Committee from the bills
permitting appeal from dismissed in
dictments and making prison sentences
compulsory for violation Of the Don
nelly antitrust act. on the first mo-
tion Senator Lockwood was beaten by
"A TO %.
Mr. lockwood. in urging the COM
pulsory sentence bill. declared that II
was the only way to enforce the DON
nelly and-truet act.
YOU viii never stop profiteering
until YOU mete out prison sentences
and not let violators off with fine
he said.
senator l.usk said that while he did
not believe the sentences In antitrust
law violations were severe enough he
would not take the discretion OF impos-
ing fines away from judges.
BurIingnme Explains Vote.
on the bill to compel insurance COM
NAMES TO invest 40 per cent OF their
investahle funds in mortgages only one
Of the New York city Senators voted
in the negative He was Senator Alvah
w. Burlingame OF Brooklyn. Mr..
Rurliugame did not vote on the first
call but when absentees were called
for recorded himself against the Dill
~ opposed this BILL he said later.
because | do not think y would help
the situation II Il became law. X would
not bring any money into the building
mn rlset in this state The insurance
companies. incensed over the severe
legislation. would invest in mortgages
outside the state There is no provision
Ia compel them 10 invest a cent In the
state III there was such a provision
/ would vote for the measure"
Senator Lockwood did not vote on
The measure. He dissented from the
committee report on the bill. and during
his terms ia the legislature has con-
sistentlv refused to vote on Insurance.
legislation because he Is counsel to an
insurance company.
Two New York city Republicans.
Senator A. w BurilnEame of Brooklyn
and senator John l.. Karle OF Queens.
voted against the motion to discharge
the Senate Cities Committee from con
sidera ton Of the Lockwood bill TO pro-
vide that iail sentences must be inn
nosed upon conviction OF violation or
tho antitrust net. The motion was lost
bv vote OF 81 10 II.
PASS VEHICULAR TUNNEL