New-York tribune., 1922-03-08
Insurance Lobby Active
from q EtaV Co7-.es,,o,d.,,,

ALBANY. March 7. - Insurance
agents from all parts OF up state dcl-
uged their Representatives. in tho Iee-
islaturc to-day with telcgra1ns urpipp
them to kill the Lockwood comrn;ttoo
Dill permitting life insurance CON-
panles to invest Up TO 10 per cent Of
tneir assets III apartment houses vrcrc
she monthly rental would mo- exceed
80 room
Ihis is tho first appearance in tbe
open OF any Of the underground lobby
c.;t mmrcn mas been opposing the Lockw 90 d
conml1tec' wich the exception of two
ieIi iiepiiesenIatiVes ia OF .profiteering land
torus' ne lobby has been Working
Legislators and other oficisls Sup '-
Senator Lockwood to.nirh+ a,
acterl5ed the lobby rs the most dr.
graceful that every sought to influence
the state Legislature. ''oe
{, ne sole purpose Of the bill ~ sa;5
senator Lockwood, Is to nrov;d. :.
hcmes Tor the unfortunate rent navero rere
OF NeT York City, who are nov hnd3iaS
Cosethef IN such congestion "a ~
menace sho health and morals Of tho
'"Ie' ne sole purpose Of the lobbI.
h',;I. ~ p.evehe these homes from being
proitecring" '''''0' 'He'r
Fassage Promised, Then Setbacl,
senator Lockwood said that last Fri.
dsy he was Informed By the lecislat;re
leaaefs that the bill, which is purely
pern1sslve, l~,1, and in no sense mandatorv.
"ouid be passed this week.
val pom nS sS.h'ng happended during the
What it was I do not know 0"%Uoo S,,t
suspect. The effect OF what hapDened
over the Weekend is that this b,ll
ana al measures other than thoso
amending present rent laws. and 49,
tending them Tor another tvo ~oar,
are seemingly dead" %
Even the reporting out Of the amend
nlen.s to the rent laws and tho a.
tension of them did not mollifv SEM
tor Lockwood. '0''"
The five bills reported out TO-DAY ;,
ne sald, are only a further checl, on
tne proNteering landlord. They will not
ousid homes. The bill the lobby is try-
ing TO kill will build homes and hn;i,,
them at once ''1
Il am informed THAT one member o.
the Legislature Is running around tho
lobbies frantically appealing for votes
against this bill, which if enacted into
law will accomplish more toward re.
lleVlng the congestion in New Yor|,
Clly than anything we haye done or c. n
DO Tor some time to come.
Exorbitant Interest Rates
The opposition is due to the fact
that one big COMPANY, which has been
found by the committee to have cxactcd
eHorbitant rates Of interest from build
ers, does not want to 60 out oe the
shylock business, which it would have
to DO if this bill became law. The
company refer to has upward OF
100000 policyholders in New York City
alone"
It is admitted that tn. fate of the
measures lies III The hands Of Governor
Miller. The Assembly Committee or
Insurance stands ready to kill the one
measure which will bring immediate
relief to the housing shortage.
AS a last resort Senator Lockwood
and his associates will appeal to Gov
crnor Miller for emergency messages
urging the enactment OF the Lockwood
committee bills which the lobby is
lighting.
Favor Extension to 1924
The amendments to TIE existing rent
laws, which were reported favorably
to-day, extend the laws to February It,
1924; extend the tax exemption law SO
as to extend tho time TO commence con-
struction in order to obtain exemption
until April l. 1928: provide that for
the purpose of determining reasonable
ness OF rent the assessed valuation OF
promises shall be prcsumptve evidence
of the actual value; provide for the
return OF jury fees that have been
paid by tenants whose cages are not
tried separately; provide FOR the dis
missal Of an action with costs in favor