New-York tribune., 1922-03-07
Lockwood Hears All Re.
lief Measures but One
Are Marked'f for Defeat:
Insurance Loans Fought
Powerful Lobby
Works in Secret
tniermyer and Commit
tee Members Expected
10 Appeal TO Governor
From a StoG Correspondent

ALBANY, March Ex-Governor Miller
alone can save tho important measures
introduced by the Lockwood commit
toe to aid in solving the housing
problem
Senator Charles c. Lockwood. chair
man of the committee, said tonight
that word had reached him that the
Legislature would pass only the bill
extending the rent laws TO April /
1924, and other amendments to the ex-
isting rent laws.
One Bill Marked for Death
The measure introduced more than
three weeks ago, on which a hearing
was held last week, permitting life
insurance companies to invest up to
~ per cent OF their assets in apart
mcnt houses whore the monthly rent
would not exceed 50 room is marked
for death.
At the hearing week ago @ ly one
person spoke against the bill. He rep
resented powerful group of New York
CITY landlords who have persstently
fought the Lockwood committee.
Officials Of the Metropolitan Life In
surance Company, which stands ready
to spend 100000 900 on these cheap
apartment houses. offered statistics at
the hearing showing that they could
rent for considerably less than 50 a
per cent on their investment and an
additional yield Of per cent for de-
probation and amortization.
One of the most powerful lobbies
ever seen here fought this measure
IRON the day of its introduction. But,
slngularly enough. none of the big fac
tors opposing it spoke against the DILL
at the hearing. Developments tonight
Indicate that this lobby, which has
worked underground has uccessfully
performed its work.
Insurance Bill Merely Pcrmissive
The measure is not MANDATORY in
any sense. 1t is the broadest sort of
permlssivc measure. The opposition
TO it is based on the fear that if the
metropolitan spent sl00,0OO,OOO on this
type OF apartment house other insur-
ancc companies would do likewise. with
the result that the profteering land
lords who arc gouging the poor would
have to lower their rents.
Senator Lockwood said tonight that
1t is significant that not single op-
ponent outside of a representative of
the profitcerlng landlords dared to ap-
pear publicly in opposition to this
measure.
THE assets of the life insurance
companies of this state said Senator
Lockwood, "are S4,OO0,0OO. 900 If this
enabling act were passed upward Of
S400, 900 would be available for
cheap apartment houses, which are
sorcly needed in all our cities, espe-
cially New York This sum would
practically solve the situation. My in
formation is that the alibi of the op-
position to this bill and other impor-
tant measures introduced by the COM
mittce will be that the legislation was
introduced too late.
"This is pure twaIdlc. Every one
knew what the legislation was going
TO be. Every one knows what it can
do. # there are members Of the Leg
islacure willing to assume The respoH-
sihllity for killing this legislation they
will have more than their constitu-
cncics to answer to, for unless the
situation is remedicd and it cannot be
romedied by depending on the opcc-
suon OF ecoromlc laws to solve them -
the inhabitants Of the City of New
York will be menaccd with pcstilencc."
Untcrmyer to Aid Fight
Samuel Untermyer. counsel TO the
committee, will arrive here to-morrcw
night, Senator lock wood said. MIR
Unite; n1yer was due here to-day, but
was unable to come.
There will be hearing Wednesday
on the Lockwood bills introduced last
week Mr.. Untermyer and Senator
Lockwood and other members of the
committee, in addition to a large num-
ber of publicsprited citizens, will ap-
peal for the enactment of the measures
into law
Senator Lockwood and Mr.. Inter
myer will not stop with pleading be
fore the legislative committee. 1t is
said they will take their appeal for
help direct to Governor Miller, who, il
is admitted on all sides, is the one man
who can counteract the influential
lobby fighting the housing relief bills
The Lockwood committee report
which was summarized in The Tribune
o-day, was submitted to the Legisla
ture tonight.