New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-05-03
OPINIONS OF CITIZENS.

DeGu IetlCenJ upon lllls suDJcCts
OPINIONS OF CITIZENS.
The increasing dimensions of the towers of
the East River Bridge had begun impress people with
the fdea that the work OF urtherng the enterprise
would not hampered retarded by the action OF any
persons directly or indirectly interested in the project
II was therefore, with great surprise that property
owners read in yesterdays TRIBUNE that an effort was
making by the directors of the bridge to abandon the
enterprise by securing the return Of their subscriptions
and give the matter the control of the two cities in
a confused condition The directors who had voted for
the measure through their expressed their ndS
nation at the conduct OF THE TRIBUNE and by the use Of
scurrous epets endeavored to cast rdcule upon the
exposures. The persons, however, who mad inyest-
gated the matter. including the members OF
the Committee OF Fifty, felt convinced of the
truth OF the statements and the following ac-
count given yesterday to TRIBUNE reporter
Savings Bank OF discoveries made in their inyes
cations affords insight into the interior workings OF
the Bridge Commission before the investigation began
Mr.. BackhOuse said:
The article in this mornings TRIBUNE il correct I'm
every particular and the only fault that be found
by f. T. BackhOuse. President OF the Kings County
Win il is that IL failed 10 tell the full Of the
frauds Mr. Kingsley until the time that the committee
OF investigation began It's work was the Bridge Com
pany. He made all the contracts tseneIay WIN nltn
self or his partners, Keerey and McCueG he con
traced for the timber and stone from companies IN
which he had an interest and dd an the business with
Committee met seldom, If at all, and Kingsley
had matters IN ms own Lrov n@nu5 IN hue scbe%es
of tplunder cannot but excite my admlra-
ZION While the work the casson progressing, he
had IL all done by days work. first because would not
be safe for him To contract for 1t with hmse as the
laion Of character OF the bottom, which might be
treacherous quicksandj ana secondly, because nc au
Guent work for until some experimental labor had
demonstrated the actual cost and how much or little he
could charge and make in profit When me announce
ment was made that the Committee OF Fifty were APP
pointed examine into the affairs OF the Company the
directors made haste reduce kingseys compensation
from original terms made with hlmnalnely, 10 per
cent of The amount expended the towers to high
water mark-to per cent Dut an examination OF tle
books the Company 10y the COMMITTEE revealed hat he
had already received $4,000 more than the per cent
wond have entitled him lie had received $4,000 in
stead Of sl25,0OO which was hye per cent upon the
treasury when 10 was discovered to exist but the ques
non mas been raised why he should have received
ffnat sin Consideration of the risks Mr. Kingsley had
personally taken IN the inception OF the enterprise, Of
The money advanced by him, and the great services he
rendered the company AT the most critical period OF It's
existence the directors voted MI kingsley 10 per
mar when t was demonstrated that the towers
never cost more than was anticipated the remuneri-
has Mr.. Kingsley performed that the other directors
have failed nn the way OF advancing their money or in
any other direction; and II he is entitled 10 cOmms
mission they likewise entitled. The superintend
ency was merely nominal and ornamental 80 far as II
incurred responsibility and the WORK IN the matter Of
contracts that he took upon himself was only for MS own
emoument and entered into with the CONVEYANCE OF the
other directors In fact they surrendered themselves to
him. Now what does the investigation show took place
afterwards Mr.. Roebng, Chef Engineer OF the bridge
compelled upon oath TO tell all he knew reluctantly
swOre contract had been agreed upon between the
directors of the bridge and Mr. Kingsley 10 the effect
that the latter should have the contract Of laying all the
stone the towers, from their bases TO their SUBMITS
al Sl2 square yard. The Investigations Of the Commit
fee of Fifty prevented the contamination OF the
tract The work far has cost less than $40 square
arJ The difference between the actual cost and Kings
Jews price on the two towers completed would have
amounted to 100000, which would, divided among tho
Ring have gwen very snug little amount To each mem
The game Of plumber is stopped. The gentlemen who
were willing for the public good to wait until the
melton of the bridge should pay them for their outlay,
can ind profitable means OF Investment where pub
cjtv shaI NOT reveal their manner OF working. be-
ieve in holding them 10 their agreements. retaining
their money, paid with great flourish OF runpets for
future that they shall be compelled to do night OF retire
from the dreeJOfshp'
II was further learned that Judge McCue the
thor of the bill forwarded by Controller Schroeder TO
Senator Murphy Struggled through the Legislature
Judge McCue is one of Kngsleys partners in the con-
tracts for timber for the bridge Indeed 1t said that
IL was popularity OF this Ring that 1t contracted only
with ITSELF One member, who looked after the necessa
nv legislation, the counsel OF the company. The Su-
perintendent was chief contractor and paid his
bills Since this could longer be done without strict
auditing the disposition TO retire had been eyinced.
Among other New-York gentlemen Interested In the
bridge whose opinion given, that OF Abram g.
Hewitt one OF the East River Bridge directors and
who has long taken deep interest In the project. Mr.
Hewitt made the following statement to reporter OF
THE TRIBUNE:
7 have seen the statement in THE TRIBUNE relative
IN the Brooklyn Bridge, but do not think the Inference
~ warranted by the facts which briefly as follows:
When L became director by request OF MI.
Green. / found that the nstallments on what was
known as the Ring Stock" were in arrear. l intro
dueed resolution directing the counsel OF the company
10 proceed collect the overdue lnstament or 10 Tor
fell the stock for payment. The counsel reported
mat the forfeiture clause had been omitted IN the
charter A supplement therefore drafted giving
tbe power 10 forfeit stock for nOn-payment OF Install
melts and enlarging tho representation OF the two
cities IN the Board OF Direction, ana pro-
yidine for a proper auditing OF the accounts.
rms supplement was promptly passed by the Senate
of which Mr.. Murphy, President OF the Company ID
member but In the House the inYislDle innuenco
which always seems TO Tor private interests at te
expepse Of the public welfare has hitherto been SUM
cet 10 prevent action the BILL and at the last meet
ING OF the Board OF Directors Senator Murphy reported
tbt he doubted whether the bill could be passed with
out making some. provision for relieving the private
stookholders OF portion Of their stock or at
least OF paying interest thereon objected TO tue pay
men of Interest the private stock unless III was also
maid on the city stock but fOTeseeing that sooner OF
later the cities, who nlne-tents OF the htocA,
would be forced, in the public interest TO purchase
nyata stock at coat OF 1884, provided Tor III tno
charter suggested that IL might DO advantageous 10
share had been paid in, provided the right should 20
conferred upon the two cities take this consolidated
stock al par instead OF paying bonus OF onethrd Ior
h. and provided further that such oOnsOndaeu etoch
sbould be Issued unless the unpaid instamthls ON a
tL stock should be FIRST paid up. This suggestion war
tvorably received, and the effect OF II VIII be, hrst 10
secure the payment VI the overdue insLiIeAs win