The New York herald., 1922-03-19
UNTERMYER ASSAILS
CORRUPT LOBBYISTS
FOR SMASHING BILLS
Lockwood Committee Will
Expose Trickery in Kill
ing Antitrust Plan.
FIGHT rs JUST BEGUN
Accuses Two Men of Nulli-
flying Insurance Measure
by Belated 'Jokers.'
PROGRAM TORN IN sHREDs
'Dirtiest Nights Work Ever
Put Over ON the People,
Counsel Declares.
PROGRAM TORN IN sHREDs

When the Lockwood committee re-
convenes In New York Samuel Inter
myer will start an investigation to
find out what part lobbies of corpora
tions and trade combinations took In
defeating his bills putting teeth into
anti-monopoly laws.
Lobbyists who yesterday were cele-
brating their final victory--the killing
CT the trade commission bill-were
fabbergasted when they learned that
ali the powers of the Lockwood COM
mittee were to be used in an attempt
to expose them.
In New York Mr. Untermyer charged
that in the last hours of the Legis-
lature the Lockwood committee was
betrayed by one of its own members
Assemblynlan Thomas A. McWhinney
Of Nassau county. He holds Nc
Whitney responsible with Speaker n.
Edmund Machold for smothering the
bill creating trade commission.
He also charged the jokers virtually
multiplying the insurance bills provid-
ing for state supervision of rates were
reinserted in the bills after he had
removed them and obtained the as
surance of Francis r. Stoddard. Jr.,
State Superintendent of Insurance,
that the bills were acceptable to the
Insurance Department.
Mr.. Untermyer accused Mr.. Stoddard
r1ttl osrtv tar lem
OF Insurance and now head OF the Ma
tional Bureau OF Casualty and Surety
Underwriters, Of being responsible Tor
the reinsertion of the jokers. He ac-
cnsed them OF treachery and trickery In
their negotiations with him.
Lobbyists Use Great skill.
Parsons acquainted with affairs in AL
pany were talking yesterday about the
skillful operations or the lobbyists. who
waited until the last moment and then
stuck knives into the Untermyer bill
creating State regulatory body to
curb corporations, the measure COM
pelling insurance companies and saw
ings banks to invest 40 per cent. Of
earnings in real estate. and the other
proposals Objectionable to certain cor
porate interests.
Mr. Untermyer Is now in a position to
turn his investigation toward these lob
bies. He has whole year ahead. with
broad powers at his command, In which
to find out what sums II any were con-
tributed to defeat legislation dealing
with the housing situation in New
York., Members of the committee say
they have no doubt that Mr.. Untermyer
will proceed without delay to find out
why certain interests fought so hard
the Lockwood committees proposals
and whether any contributions were
made by tradel corporations in New
York TO kill his bills.
Had the trade commission bill passed,
1t was said in Albany yesterday. the
Lockwood committee would have gone
out OF business. Specific provision was
not made that tho commission should
take over the work of the committee,
but IL is now assumed that had the
commission been created the Untermyer
inquiry would have gradually dwindled
and Mr.. Untermyer himself would have
dropped out of the business OF running
down building trade crooks in New
York.
Another subject which Mr.. Untermyer
may take up when he resumes his in
any Wall Street interests contributed in
any way to killing of the Katlin bill.
which provided for the regulation of
financial exchanges in New York.
Mysterious Phone Message.
Mr.. Untermyer made the Katlin bill
part of his own program through the
amendments which he drew into the
measure. The handling of the bill In
the Senate was singular: first II was
beaten; then came the Untermyer
amendments and Ii was shot out OF the
Senate: there followed roar of protests
from Wall Street. and within In an hour
after Il had been advanced there were
mysterious telephone calls to Wall Street
and a few moments later il went back
to the committee. where IL expired.
The measures which went TO defeat
before the combined and persisting oppo-
siton OF the corporations include those
requiring insurance companies TO sell
their speculative stock, compelling the
State Superintendent OF Insurance to or
der companies to dispose of their stock
by 1925. requiring insurance companies
and savings banks to invest 40 per cent.
OF their money In real estate making
compulsory prison sentences for Viola
tions of the antitrust law. giving the
people the right TO appeal from dismissed
indictments. requiring courts TO state m
writing the reasons for dlsmiss'ng In
dictmerts and restricting the rights OF
landlords in raising rents
Mr.. Untermyer declined yesterday TO
discuss his probable future course In
connection with the housing committee
n IL known, however. that he regards
the value of the committee az a regula-
tory agency seriously undermined by the
refusal OF the Legislature TO adopt some
OF It's more important bills. His state
ment follows:
"The result is a crushing defeat for