The New York herald., 1922-03-15
Vote Foreshadows Death of
Other Lockwood Insurance
Investment Measures.
800, 100000 BILL PASSED
State Trade Board Measure
Reported, and Two Rent
Bills Go Through.
Special Dispatch to THE New York HERALD.
New York Herald Bureau,
Albany March IA I

New York Herald Bureau,
Albany. March Il.
The Senate tonight beat the Lock-
wood housing bill requiring insurance
corporations to invest 40 per cent. of
their investible funds in real estate
by a vote Of "a to "a
Senator Lockwood asked to be ex-
cused from voting on the ground that
he has been an attorney for insurance
companies. The only absentee was
Senator Eavanaugh (Rep.) of Sara
toga. Nearly all of the New York city
men of both parties voted for the bill
A motion to reconsider the vote was
made. but 1t will be impossible to get
the necessary twenty-six votes.
The housing bills requiring life in
surance corporations and savings
banks TO invest 40 per cent Of their
funds In real estate We're not reached
tonight. but will undoubtedly meet
the same fate.
Earlier in the session the Senate
passed the s1o0.0oo,oOO Metropolitan
Life housing relief, and the bill to cre-
ate State trade commission-a meas
ure which Samuel Untermyer regards
as vital-was reported from the Cities
Committee.
There were seven votes for the trade
commission bill and only eight were
reeded Senator Henry G.. Schackno,
Democrat. of New York, was absent.
Commission Bill Reported.
Senator Gibbs told Senator Lockwood
they have made up their differences
since Sunday night-that II Senator
Schackno would say he favored the
bill it would be reported out. Senator
Schaclno arrived later and early this
evening the Cities Committee reported
out the trade commission bill The only
absentee was Senator kavanaugh Of
Saratoga. who is opposed TO It.
When the State Trade Commission
bill was reported to the Senate tonight
by the Cities Committee Senator Frank
l.. Wiswail of Albany refused unani-
nous consent for its advancement to
the order OF final passage. This action
throws 1t into general orders and spe-
cial rule will be required to advance
it. Senator Lusk. the majority leader,
declared such a rule would be brought
in.
The two other bills left In the Senate
Cities Committee are dead for this
session. Under the rule.s .sbills which are
voted upon adversely cannot be pried
out of committee on a motion TO
discharge. Such a motion only can be
made on bills on which no action has
been taken by committee.
The Canatnre will 10 Conpallp6 IN
record their votes on the trade COM
mission and other housing bills re-
ported. The trade commission bill is
the one for which Mr. Untermyer made
his big fight last week. and he over
came Gov. Milers objections to It,
The measure creates State Commits
sion similar to the Federal Trade Com
mission, with authority TO investigate
and prosecute illegal combinations In
trade. Mr.. Untermyer has told the
Legislature that only through such a
board can the monopolies, such as he
has uncovered. be broken up. The
courts have failed. ne said. and the
Federal Government cannot break the
grip OF the combinations in New York
Lusk Against Trade Board.
Senator Lusk and Others In the cities
committee who voted to report out the
Trade Commission and other bills have
indicated they do not favor the meas
ures. The leaders decided Il would be
better to get the bills out for n record
vote rather than to give rise 10 the
charge that they were strangled In
committee.
IL now seems practically certain the
Metropolitan bill and the five rent bills
will pass both houses
The Senate tonight passed two OF the
emergency rent bills. One provides that
where rent Is paid for three months IN
three monthly Listallments, at the time
each installment is due no question cf
unrea condolences can be raised. This
was introduced to offset a favorite
dodge OF landlords in demanding three
months rent IN advance
The other bill extends the period In
which homes may be built 10 enjoy the
tax exemption law for another year.
The Assembly passed the bill per-
mitting mutual Insurance companies 10
write casualty Insurance.