The evening world., 1922-03-16
7 wo Already on Way to Gov
emor and Only Five Await
Action by Both Houses
None Actually Dead.
Rules Committee Waits to Re-
lease Entire Programme at
Same Time - Message
Promise Speeds Measures
By Joseph s. Jordan.
(Staff Correspondent Of The Evening
Worldly

ALBANY, March 16.--Five more
Lockwood Housing Committee bills
were passed in the closing hours OF
the Senate night session which ended
early this morning.
They were sent to the Rules Com
mittee OF the Assembly to-day, and
members expressed the belief all the
Housing bills passed by tho Sena''
would be reported out for debate OF
the floorSof the Assembly.
The bills went through the SenaI
without the necessity of an emei
gency message. which was promlseo
by Gov. Miller. They were:
/. 70 amend the Insurance Laws
in relation to mutual life. health and
casualty corporations. This bill pro
vides for the organization and ad,
mission of mutual insurance com
panies in the State of New York 10
write all kinds of casualty insurance
except surety. The bill also gives the
State Insurance Department the same
supervisory and regulatory rights
over the mutual companies a. over
stock companies. This bill has al
ready been passed by the Assembly
and goes to the Governor The vote
in the Senate was 40 to /. W,Swall OF
Albany being the only CO 70 vote
against It.
2. Providing that the City of New
York may avail itself OF subcontricts
where the principal contractor fails
to complete his contract. The vot,
on this was unanimous.
3. To Amend the Insurance Law b!
striking out the provision giving to
the Superintendent of Insurance til,
right to extend beyond 1925 the pc
riod within which such companies A.
required to dispose of their sto,
investments.
The original law required the dis
position to be made within five years
AiIoI DSCNlhbOi' 4SVVI Out tu0 Lc6lS'
lature has extended that date time
after time, finally until Dec. 81, 1925
with the power of making furtheI
extension left with the State Super.
intendent OF Insurance. There wa
some debate over this bill and eleven
voted against 1t. The negative votes
were Ames, Bloomfield. Campbell
Dick, Fearon, Knight. Swift, Thayer
Towner, Whitley and Wiswall. Not
voting: Draper kavanaugh and
Lockwood.
I. Requiring all insurance compan-
les other than life to dispose of cor,
porate stocks, except those OF munici-
pal corporations, and OF all securities
other than those in which saving
banks and life insurance companies
may now invest, within five years
OF the passage OF this bill II the
bill should become the law It vii,
place all isurance companies on the
same footing with respect to Their
investment. The law at present re.
quires life insurance companies 60
dispose OF their stocks by Dec. 81
1926. Against the bill we're: Ames,
Campbell, Dick. Fearon. Ferris, Gibbs
Hewitt, Knight. Lowman. Pitcher
Swift. Thayer. Towner, Walton
Whitley. Wiswall. Not voting: ORA
per. Bloomfield, Kavanaugh.
6. Compelling savings banks TO in
vest at least so per cent. OF all in
vestable funds hereafter invested BY
them in bond and mortgage, until az
least 40 per cent. of all deposit and
guaranty funds shall be and remain
so invested. Chairman LockWood's
explanation of the proposed measure
was that while as d whole the saw
ings banks have 4S per cent. of their
deposits 80 invested. and soma OF the