New-York tribune., 1922-01-31
Housing Relief
Here Is Rushed
La Legislature
Untermyer's Plan Permitting
Insurance Company to Put
Up Tenemenis for rs. 900
Submitted in Joint Bills
$9a MonthLimit onRoom
Iammany Assists Miller On.
posing St. Lawrence Canal
Proposal at Washington
from staff CorrcSnondort

ALBANY, Jan. 30.-The Lockwood
committee ON housing tonight intro
duccd in both houses Of the Lcgisla
turc bill enabling insurance com
pan'es to erect dwellings in New York
City and Buffalo. The bill is intended
specifically to allow the Mctropolitan
Life Insurance Company to 90 ahead
with ITS program of building apart
mcnts in New York City to care for
9o'ooo families. These dwellings, are to
be let at a low rental.
The bill, which amends chantcr Ar of
laws of 1909 Insurance act), reads:
Section 20A--Powcrs as to real
property during certain emergencies.
ontil March !. 1924. and so long there
aiter as the emergency in housing con
o'tlons mentioned in certain xcts Of
the Legislature of 1920 and 1927 shall
continue. every life insurance corusra-
t'on, foreign or domestic, transactin,-
business in this state, may purchase
land in any city Of the first class in
TINS state. and on land in such city
acquired pursuant to any other pro-
VISIONS OF this chapter may erect
apartment, tenement or other dwelling
houses, not including hotels. Such cor
porat'ons may thereafter hold. main
TAIN, manage. collect and receive in
or convey the lands so purchased and
the improvements thereon.
SO Room Limit on Rent
The aggregate cost of all the lands
so purchased and improvements so
made shall not exceed 10 per cent Of
the total admitted assets of such cor
porauon AS OF December 81. 1921, as
such assets arc shown in the annual
n or,
perlntendent Of Insurance for the wear
ia4l. The cost OF land acquired under
IN section shall not be allowed as an
admitted asset unless improved AS pro
V'ded by this section. nor, if so i'm
proved, shall the cost Of such land and
improvements thereon be so allowed
unIess the average rental valve Of
such apartment. tenement or other
d"e''lng house erected thereon. as es-
tlmated at the commencement Of CON
struction, be - or less A month q
room.
"Scction 2-This act shall take effect
lmrle lately"
Business meu would not he permitted
20 oeouct expenses incurred ir enter
tanning customers from gross incomes
IN making income tax returns by q
PHI INTRODUCED tonight by Franklin ".
Judson. chairman o. The Assembly
Committee on Taxation. The measure
contains series of important amend
ments to the income tax law, includinc
a proposal which would reduce from
$1,000 to Sl00 the penalty imposed for
!a'lure 10 pay tax or in cases where
wrong returns are knowingly made.
Penait'es would be collected in the
same manner as the tax itself Under
the present law action to collect pen
altics must be brought in court bv the
Attorney General. Other proposed in
come tax law amendments arc as
follows:
NO worthless debts may be deducted
from income that did not arise out of
transactions entered into for profit.
Time Of Payment Extended
"ithho oIding agents would be given
al ADDITIONAL month in which to make
returns The period is extended from
March Is to April Is. Where such re-
turns are delayed beyond sixty davs
of the required time these agents
must pay nne equal to the amount
due, This fine must not be charged
up to the taxpayer they represent.
contributions made by employees
under profit sharing or stock purchas-
ing plans are not taxable. hut divi-
dends or returns from such invest
Y
money returned to towns are to 90
INTO general funds. At present one
third is distributed among school dis
tricts
Assemblyman Louis A. Cuvillier,
Democrat launched fresh attack on
the n-Enright administration of
the Police Department. which he de
clared, was less efficiently organized
than the criminal element in New York
City.
Mr.. Cuvillier's latest criticism was
prompted by his introduction of a bill
permitting householders and business
men to keep revolvers at their places
Of business and homes. There are
several bills of this nature before the
Legislature.
Tammany Against Canal Plan
Tammany legislators tonight fell
INTO line with. Governor Miller and
other Republican leaders who are op-
posing the st. Lawrence canalization
project, when Assemblyman Cuvillicr
introduced a resolution calling unon
New York members in Congress- to use
their influence to defeat the proposed
canal treaty between this country and
canada and TO work in behalf OF the
plan to construct an Ai-American shin
canal from Buffalo to the Hudson River
he resolution was prompted by the
indorsement of President Harding Of
the Joint international Commissions
report and his instructions that treaty
negotl latlons be entered into with Can
ada for the construction of the St
Lawrence canal
Assemblyman Frederick NJ. Hackcn-
burg, Of New York, who last year
sponsored a series o4nti- blue law
measures, introduced bill designed to
oanlsh paid professional lobbyists
from the Capitol. Mr.. Hackenburr
Charges that these paid lobbyists arc
hypocrites and he would have the
penal law amended so that hypocrisy
would be misdeneanor. He defines
as hypocrite any person who $50
llclts funds, gifts, contributions or
any other 'aiuable thing for the public
advertising. support or sponsorship of
any legislative measure calculated TO
nIlnse upon and restrain the free