New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-05-28
THE BRIDGE FRAUDS.
FICTITIOUS TRANSFERS OF KINGsLErs
STOCK.


SAY THEY NEVER owERD-AN ILLUSTRATION Or
DESPERATE MIsMANAGEMKNT
The publication in Yesterdays TRIBUNE OF the re-
pudiation OF the Brooklyn Bridge King ny the Com
mon CouneiI the Committee of Fifty. and the Com
mttee of One Hundred created great interest ana con-
siderable excitement IN Brooklyn. The copies OF the
paper offered for sale at the newsstands were bought
ND az ap early hour and in many cases the whole
number offered for sale at various stands was
purchased by single Individuals The Brook
Ivn local papers were forced by the
prevailine excitement to publish full reports of
the action of the Committees and COuncimen. Later
IN the day various prominent citizens, aroused to
action by THE TRBUNE's exposures of the purposes
of the Ring took trains for Albany in order to ap-
pear before the Legislative Committee and protest
against the passage of Mr.. Jacobss bill, which re-
leases the Ring from all its money obligations with
out compelling them to relinquish the management
of the bridge.
1t has been ascertained that on the very last day
on which transfers Of Bridge stock could be made
May H. that William c. Kingsley made fictitious
transfers of portion of his stock to ten persons
the majority of whom are at Albany endeavoring to
lobby through a scheme which puts ten thousand
dollars in the pocket of each of them; and the rest
of whom repudiate the proposed fraudulent trans
fer. Mr. Kingsley held and controlled 251 shares,
majority of the voting stock Of the Bridge, for IN
der the existing charter the two cities which sub
scribe nine-tenths of the money necessary to build
il have no vote in the direction of the Bridge.
Kings ey has transferred 100 shares to three or four
friends who could be depspded upon to act
with him, and who are already in the Ring, and TO
half a dozen other men of character who were ex-
pected TO accept it, and thus sustain the manage
ment That this transfer is fictitious Is clear from
the fact that al the gentlemen named on the books
as receiving stock who can be found repudiate the
transaction altogether.
The Hon. VIM. w. Goodrich, well known as a lead
ing Liberal Republican in Kings County, to whom.
according to the entry on the books of the Bridge
Company, 10 shares Of Kingsley's stock was trans
ferred denies any knowledge Of the transaction and
says that he owns no stock whatever
Mr. Hassam II. Wheeler, long identified with the
Democratic managers and member of tho Board
of Elections for the appointment of CanYassers
and Inspectors stated that be believes he is stock
holder. but has MT any idea when he becape one,
and refused to give any particulars Of how he be-
came one. whether by trust or purchase
VIM. Schwartzwaelder, who IL credited ON the
books with ten shares of stock transferred to Kings
ley, denied that be had ever purchased any, and
said that he knew nothing whatever of the Bridge
management.
Cortland P Dixon, large stone contractor for the
Bridge Company. said that be had been told con-
fdentialy that he was the holder of ton shares of
stock, and praised Kingsleys management and de-
nounced TILE TRIBUNE for exposing the Bridge
directory.
THE RING METHOD OF SELLING STOCK.
Late on Monday evening last, the following
anonymous letter was received at the Office OF The
TRIBUNE:
To the Fdftor Of The Tribune
SIR: The following transfers OF stock appear the
books OF the East River Bridge Company:
TRANSFERS or STOCK, MAY I, 1878.
A Hassan r. EReelerlo @
Robert Benedict I'D John b. Norris.
Francis d. Moulton. 10 Cortland 7. Dixon.---.10
Yours, DC, EXPOSE
This was received at an hour too late, on Monday
n ght TO make inquiries but early yesterday morning
reporter Of THE TRIBUNE called the Bridge oficeand
stated to Mr. Quntard the secretarv that the above
letter had been received and asking II IL was true that
such transfers of stock had been made. MIR QIintard
declined answer. further than to say that one d.
rector had made transfers part Of his stock and
ferred the reporter 70 Mr. Prentice the Treasurer who
answered curly that the Bridge Company owed no
consideration 20 TIE NEW-YORK TRIBUNE. On being
told that TIE TRIBUNE asked favor consideration
az his hands, but applied there for information which
the public were entitled TO know, he became more
Ceutenanly In his manner and said he must decline 10
answer unless the reporter stakeholder OF director
Of the Bridge lie neither the reporter was COM
Deled 10 seek the gentlemen 10 whom the stock was
SAID 70 have been transferred, and question them re-
gardng it. Several reporters dispatched IN various
directions and the following information was elected
MT Hassam Il. Wheeler Is well known in Brooklyn as
one of the subordinate managers OF the Democratic
Ring party He resides at No IS Lafayeeplace, Brook
~-T.a . bret
Greenwlchst in this city. The reporter in calling
Dir Wheeler. explained that he wished to make few
inquiries about some recent transactions in the stock OF
the Brooklyn Bridge Company
Mt Wheeler would rather say nothing upon that
subject this afternoon.
Reporter-Win you please state whether or not you
are or have been, stocKholder in the Company
Mr. Wheeler-I believe I am stakeholder.
Reporter-How long have you been q stockholderf
MI Wheeler (smilngl-I would rather say nothing
about 1t.
Reporter-Did you acquire your stock by actual pur-
chase or was IL transferred
Mr.. Wheeler Laughing outright-I say believe am
gtOckhoder but don't know and would prefer not to
speak upon THAI subject this afternoon. know the
gentlemen whom you have named as having had stock
transferred 70 them according TO rumOr, but have
knowledge as 20 the truth Of the rumor.
Reporter-YOu VIII not then, for the truth Of
the rumOr as far as 1t concerns yOul
Mr. Wheeier--I would prefer not.
Mr.. william sehwartzwaeder Of No 4s Lawrencest.
does business at No. Q East Broadway, NewYorK On
being informed Of the purpose Of the reporters visit,
Ar Schwartz waeder denied all knowledge whatsoever
Of the transfer OF any stock Of the Company TO him in
any shape BE spoke in the most positive form
He said he had never held any stock IN trust
owner had any and had never heard OF the
rumored transfer OF stock from Kingsley 10 others He
was acquainted with Mr. Kingsley but had never been
reached In relation 20 the affairs OF the Company.