New-York tribune., 1922-03-06
Opposition 10 Legislation

POF@sASaf w tckCAlOf
While there is considerable oppos..
tion to the legislation, Samuel Tx
ternyer, -'sief counsel to the com
nittee, is due to arrive here from
Palm Beach tomorrow, and it is be-
lieved that he will repeat his pev-
formance of last year, when he woa
over the legislative leaders to tie
committees views.
The principal measures which the
committee believes will aid in solving
the housing problem compel saving.
banks and insurance companies to
invest at least 40 per cent of their
future investable funds on first
mortgage loans on improved prop
erty. An emergency measure per-
mlts life insurance companies to in
vest up to 10 per cent of their assets
in apartments where the monthly
rental will not exceed 50 room.
The lines of inquiry which the con-
rittee intends TO make as further
aid in stimulating building of dwell
ings include thorough examination
into the investments of life. fre, cas-
ualty, fidelity and surety companies.
Two Causes of House Shortage
The almost complete withdrawal Of
the life insurance companies, with ore
notable exception, from the mortgsg.
market-the other insurance CON-
panies practically loaned nothing Is
builders--is one of the two principal
causes of the housing shortage with It's
consequent evils.
The other, the committee informs
the Legislature, was the criminal prsc-
tices of manufacturers, dealers, con
tractors, labor leaders and labor or
carnations in the building and allied
industries.
The committee reports that the labor
organizations in the building trades
have promised to reform, and it is the
intention Of the committee to see thas
these reforms are put into effect under
pain of rigid state supervision of the
unions.
With respect to the criminal com.
binations among the manufacturers
and dealers Of building supplies, the
committee reports that although some
of them have been indicted for their
violations against the state and Fed
eral antitrust laws, they are again
breaking the law in the same old way.
Prosecution Arraicned
The local prosecuting attorneys and
certain branches Of the Department Of
| Justice are severely arraigned for
| failing to enforce the antitrust laws
which the committee found were dead
letter until it began its investigation n
three years ago.
l. The committee points out that al
! though the Donnelly antitrust ac.
! (the state law had been on the status
books twenty-five years when 1t began
its operations, there had been but one
criminal prosecution and conviction in
New York City, notwithstanding the
fact that during all that time Manhas-
tan has been the headquarters of the
criminal combines in the building in
| dustry.
an point Of fact" says the report
''there has been no concentrated o,
systematic effort to enforce thes,
laws. There has been no adequat,
legal equipment to enforce them. Tn,
illegal combines have grown so numer
Gus and so powerful that it would re-
quire many judges, prosecutors and in
vestigators and decade of time t;
cxterminate them, if. in fact, they ca,
now be exterminated"
The reports censures judge eS "
state courts who "expounded the ex
traordinary view that because or tn
business and social standing of thes
men confessed violators of the Don
nelly antitrust law) the huniiiaiio'
of being compelled to plead guilty I