New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-06-03
THE BRIDGE ELECTION

The resignation of William G. Kingsley as
Superintendent of the East River Bridge Com
pany is as the "sop to Cerberus" which the
Ring throws to the Brooklyn Reformers.
When the Office yielded Is per cent on the
total expenditures for the foundations of
the bridge towers, the Office was worth pos
session; since clamorous Reform compelled
the abandonment of this arrangement Mr..
Kingsley has repeatedly expressed his readi-
ness to retire. But as he remains in the Di-
retory and continues virtually the controlling
direction of the Bridge, with power to dictate
the appointment of the new Superintendent
and command his service afterward, we do not
clearly see what is gained for the people.
We gave notice nearly week ago of the
purpose of Mr. Kingsley to introduce new
men in his interest into the Board. We had
anticipated that after the exposure of the
fictitious character of the transfers of Mr..
Kingsley's stock to the men named,
the consummation of this outrage would
have been postponed. But the Ring is
as defiant as it is unscrupulous; and yesterday
unhesitatingly threw out the Directors who
had fought it, and elected Directory whose
acquiescence In all that the Executive Board
may do is already assured. There are good men
among the Directors, but they will be powerless
to oppose and probably to expose any mis-
deeds of the Executive Board. They may
and doubtless will insist upon publicity in the
quarterly meetings provided for in the
new bill but as the business to be transacted
on these occasions is to be only what the
Directors choose to consider, nothing dam
aging to Mr.. Kingsleys management is likely
l. Il bo hou
ton within the Bridge Directory. Their only
hope of compelling it to economical and
horest management is by constant vigilance
and thorough agitation. These have accom-
plished much in the past; and they offer the
only reliance and safeguard in tho future.
The manner Of the election of the new stock
holders will destroy whatever of confidence the
people may once have had in them; their adj
herence to the old Ring which they thus sus-
piciously recruit is confessed by their accept
ance OF stock which some of them admit they
never purchased. -.-~..
The reports submitted yesterday which we
reproduce very nearly in full (nothing material
being omitted are not intended to enlighten.
They are chiefly calculated to blind readers
who do not peruse them carefully. The only
points really made clear arc that
the Company has received $4O2O,514 20
and has expended $3,s23,429 II. This
sum has been spent in building the
foundations and in half completing the towers.
Now it must be remembered that the original
estimate for the towers and foundations COM
pleted was S2,164,3O7, subsequently increased
by the second engineer to about $2,7OO, 0O0,)
and that the portion under water, the most
difficult part of the work, was done for
considerably less than the estimates.
Yet over a million more has been spent,
and, according to Mr.. Kingsley's staten, mt
before the Aldermanic Committee, still another
million must be spent before the work thus
estimated is finished. The difference of a
million already spent has not gone for granite,
for the burden of the report is that more stone
must be had or the work must stop. Where
has it gone, and where is the leakf
Blind as the reports are they suggest some
answer to this interesting question. Originally
the Ring plan to pay itself was to give Mr..
Kingsley 10 per cent on the expenditures for
the foundations for this services as Supern-
tendent. This was exposed and failed Then
the design was formed to pay Mr.. Kingsley
S42 per square yard for all stone laid on the
towers from foundation to summit. Investiga-
ton showed that the stone could BIO laid for $50,
and that in the estimates of the engineers the
building of the towers would yield Mr.. Kings
ley on this contract profit of 100000.
Exposure defeated this scheme and forced the
Company TO publish its contract prices, which
we arc assured by Mr.. Kingsley are the
lowest rates. But the present reports re-
veal that while prices are now stated,
amounts Of the contracts are not given
...s..f .et-ea t.aAalo. %