New-York tribune., 1922-03-17
Senate Rejects Forced In
vestments, Anti Trust
Case Jail Terms and
Peoples Court Appeals
Measures Go to
Assembly To-day
State Insurance Super
intendenl Is Granted
POwcrOvcr Rate Boards
From q stag Correspondent

ALBANY. March 16-The lobby which
has been fighting the Lockwood Hous-
ing Committees Legislative program
scored heavily to-day when three Of
the four measures which were brought
up for consideration in the Senate
were defeated. The Assembly, which
did not touch any of the housing bills
to-day will go to work on them to-
morrow, the last day of the session
The only bill passed gives the State
Superintendent of Insurance supervi-
sion over rate making boards. 1t was
approved by unanimous vote and with
out debate The bills defeated pro
vided that
Courts shall impose minimum,
sentence of three months on violators
of the Donnelly antitrust act.
2-The people shall have the right to
appeal from adverse actions of the
court especially in the dismissal Of in
dictmcnts.
3-Insurance companies must invest
40 per cent of their investable funds in
/ first mortgages.
Lack Two Votes TO Pass Bill
, On the last named the proponents OF
tho measure lacked but two votes tc
pass the bill. Senator Lockwood him
self, who has been opposed to the bill
was excused from voting. Anothe,
Brooklyn Senator, Alvsh w. Burlin-
game jr, voted against the bill.
Senator George f. Pearson, of SYRIA
cuse, who voted against the bill, de
carcd that the measure was faulty
drawn in that it failed to provide fo1
any form of enforcement.
at means nothing" he said, at i;
merely window dressing"
Others who opposed the measure eT-
! pressed the fear that il the bill were
enacted into law it would lead to re
taliatory legislation in other states
which would work to the disadvantag,
of New York insurance companies.
This bill previously had been beater
/ by tic vote of "a "a. Rat on motor
! Of Senator Nard v Tolbcrt tho vot,
was reconsderod and it was brough
UP for action on a special message
from Governor Miller.
I Il
been killed in the Senate Cities Com
mittcc. and the adverse votes on then
/ to-day was on motion OF Senator Lock
wood to discharge the committee from
! further consideration of the measures
Senator Lockwood made specia
plea for the proposals compelling thu
courts to impose minimum sentence
of three months imprisonment OF
prodtcering builders. manufacturer!
and dealers in building supplies con
vlcted Of having conspired criminal.
to keep up the cost of housing.
''Proitecrng viii never be stoppct
If the courts arc permitted TO impos,
incopspicuous fines OIL these profitecrs,
said Senator Lockwood. "The onl,
way you can stop this pcrnicious form
Of proiitecring, which strikes at tn,
very vitals of the housing problem, i
to send them TO jail
Lusi Opposes Limiting Court
Senator Lusk, who voted against tn,
motion, also spoke against it, saying
that he did not believe in taking ava,
from the courts the discretion Of i'm
posing a fine in these cases. He ad
mttcd, however, that he also believed
that the sentences OF convicted anti
trust law Violators we're not suflicie ntl,
! severe.
Senator Burlingamc was the only
New York City member to vote agains
the bill compelling the insurance com
panies TO invest 40 per cent of their in
vestible funds in first mortgages, Gus
tom adhered to by most Of the large
insurance companies. He did not vot.
on the first roll call, but when alb
scntees were called for he recorded
himself against the bill.
This measure. when defeated earlici
in the week. lacked only two votes O.
the required majority. AT that tim,
several who opposed the measure sait
they did so because it would bankrup
some of the small upstate mutuals.
was amended to meet the objections O.
these members by confining its applca
tion to insurance companies with So,
100000 or more. But this amcndmcn
failed to win the expected support.
Both branches Of the Legislature viii
act on the remaining housing bills to
morrow.