New-York tribune., 1922-03-03
U nte''inyer''s
Plans Clipped
In Rent Bills
'cHntirrsd fom phns en,N

funds in similar mortgage loans until
.hH total amount Of such mortgage
loans shall from year 20 year equal 80
per cent OF tho total assets Of soch
companies.
senator Lockwood and Assemp.yman
Cauii,eii in 4 statement explaining the
intent OF thc laws said thcy did not DO
lieve these bills ihoud pass. They dc
claled thoy did not consGev them good
leuls' 'aticn. indicating difference Of
opinion in the committee that may
l'"o TO ombarras nent later.
The other members &c the con,.ni,toc
point out ths.. while tho larger insur-
sncN companies nave exceeded the
AMOUNT specified in the lin for mort
gage loaAs. otler companies "ha--c rc-
drcod tAeir re ious proportion in
Nestncnts in th's class o' security in
;@vor of wolc speculatiTo xnu Jess dc
slrablc forms of security"
FiVc bills aimed at making possible
the compliance of insurance companies
with the proposed law provide:
l. For state supervision over al
rates and rate making bureaus and or
.ar'zat ions, and limiting the activities
or those bureaus AND subjecting them
and their practices to state control
Z. That all mutual Insurance com
rclicyh oldors equal to those provided
oy the stock comnaNies shall have the
same rights TO transact al Kinds OF in
sur.nco A. $50 nov possessed BY stock
cowpsHics organized under the laws o.
t"is atate and of foreign states and
Countries
Provision for Directors
3. That mutual employers liability
corporations mav divide their directors
into groups whose terme may expire
II different years. in the same manner
IN which stock corporations arc now 80
permitted
4. That mutual companies shall not
80 conre,tod into STOCK insurance
conn anies.
i. 'hat al Insurance companics. e.
cr''' re companies. shall sci. and dis
80 r'Naln IT'S Nears from the passage
'hi' &e, OF all ,heir investments in
common or preferred stocks OF corro-
cations end Of All securities hcld bv
them other than securities in whici, !
savings banks and life insurance COM
paNics arc now permitted BY law to in-
Nost. Without recommendation the |
coWNittc7 submits bill providing for
a state trade board, patterned after the |
Federal Trade Rosli
II the bill cree ing tho proposed (
state board all corporations or Joint J
stock associations arc prohibited f~on .
becoming members O. or CORRECTED !
Wa any trade assoc alton. society,
a. NA' library. institute or otntr tc1m .
O. oraa1i-st;o', of competitors under
0-eatevcr nalno or pretcxt. or from be (
coming parties to ary trade agreement
with competitors without having first
received the previous approval OF such
trade board
The primary purpose Of tins legs
lation IS TO create a BODY with vide
Supervisory and Investigating powers
That nill DC abb At Ell times to f;q-
cove end suppress associations or
agreements between competitors that
have or their purpose tho Axing OF
or'cas. tie regulation Of output. d.
~ion o. territory or other ulethods of
rest raining or interfering With tic free
TO g connection ard 10 gather the
. t.dcnce on winch to prosccutc Of
Tenders against the state antitrust
law and the laws of conspiracy against
trade. Violations are to be punished
with prison sentences Of not less than
three months.
L. S. Act Change Sought
The committee also recommended
that Congress he mcroralized to
nI'-V.if t'c JtucLH ~ 0Hll-tICSC SCC In
accordance with the proposed amend
ments 10 the state act, aud also TO
compel the Federal courts to imnose
prison terms OF violators ot The Fede-
rel aitl-trUst act. In emphasizing tho
need of nemoralizing Congress the
committee points out that building sup
ply men and others enea sed in tie
building industry By price fixing
agreements made in various parts Of
the country and by other unlawful
devices prey upon thc whole people.
and because Of their being without the
jurisdiction of tho state they cannot
be reached by tho local authorities.
All thc members Of the committee.
With TIE exception Of Vice Chairman
AlcN Kinney and Assemble yman Tctey
Hamu., Democrat. concur in the urc-
ing Of the memorial 70 Congress. DC
claling That nothing short Of close CO
operation hctwceN Federal and state
authorities by Vay Of legislation and in