New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-04-02
THE TRAPHAGEN CONTRACT.
MOTION TO RFSCIND.

AT meeting of the Commissioners of the
Sinking Fund held TO- 1871, heretofore unpub-
Hshed preamble and resolution were unanimously
adopted, declaring that
Whereas IL Is repres 10 the Commissioners OF the
Sinking Fund that william q. Traphagen OF the CITY OF
NeW-YOrk IS possessed Of knowledge that lana now
come pieces parcels. and rights OF property belong 10
Corporation OF New-NOrk, to Whlch al present Sdu
Corporation do not make claim; ana
RheredS. The same Is, however, claimed ana held oy
Others adversely 10 the Corporation, ana without egd
resided That Recorder Hackett and Controller Con-
nohy be and tGey are hereby appointed committee
with power and are directed 10 enter into and conclude
proper agreement with the said William c. TraphaseD.
and IN such manner and form as TO them small seem
best the ppOSc Of securing 10 the sald Corporation
Ncw-York the possession ana enjoyment of the said
pieces parcels and rights OF property, which agreement
paid to said William G. Traphagen, and whatever litga
lion shall become necessary shall be conducted by tue
Counsel the Corporation, il connection with SAID VIII
liam G. IraphagcI.
Tie following is the substance Of the agreement re-
feTrcd TO:
TIE corporation agrees 10 nay TraphaGen a sum OF
mouey equal 10 half Of the value OF each and all
the pieces parcels and rights of property, OF which
hey shal become possessed through the Information
given the Commissioners of the sinking Fund by him.
AMI the Corporation further agrees TO advance TO
TTaphagen all the money that II shan be necessary Tor
hun dsburse IN maintaining and asserting the rights
81 1n1 ~ i'm Inc ttsontIon Of the commits
- soncrs vi the Sinking Fund above rccited.
This agreement was duly executed and signed by
Traphaccn, Recorder Hackett. and Controller Connolly
At "A nct ting yesterday Of The Commissioners OF the
Sinking Fund Controller Green called UP his resolution
20 rescind the Traphagen conrac, and 10 strike from
abe record TIE resolution authorizing it, the ground
that II was not only illegal but adverse to the best inter-
eRts of the city
Accommodation from Mr.. Traphacen was then read,
90 eject that the contract was valid; hdt neither
party could ahrogate It without the consent Of the
other that therefore the Connis Oners OF the sinking
Fund couid not esa! dec.re the contract VOID. and
that Il was good thing for the cltY, because he had in
CoucCruiu. the property IN question Whlch
~ G. =
Recorder Haciett agreed with Mr.. Iraphagen IN his
views AID said that the Commissioners OI the sinking
FcBd would suty Themselves Il they adopted The Con
tToilcrs resolution -.
civ 60 give away half Of property recovered 10 It's use,
and that he would never consent 10 ITS doing so.
Mr. Van Setback moved 20 reIer the matter to the
Myor and 20 authorize hm 10 take legal advice 10
whether the Commissioners au IesI power 10 aDroSae
fLe Traphdgcu contract.
Controller Green remarked that u was the business OF
tbe Coporatiou Counsel that all properly held
adversely 10 the civ Doe recovered 90 is use that
"outsdcr" had any right 60 interfere IN the matter and
that the Commissioners had no power TO authorize
such Interference 81 repeat said the Controller,
that the contract mOHstrOus ana tt the records OF
Tins Commission are isgraCed Dy it, remaining part
ter hat believe / right, ana shall act upon thdt
he lef mi "a convinced that ! AN wrong
Chamberlain Lane SAID that IN MS opinion the Com
mi=sOuers had power rescind any OF the resolutions
passed by their predecessors -,,,,
" abOgaed Was IN favor OF abrOgdting y; ana alter
further discussion resolution to refer the mat
Ter the Mayor was lost and the Contloefs rcsolu-
tOn 10 resclu0 the contract was adopted, OnN MI van
SchaICk ANA Recorder Hdcactt voting against II.
resolution adopted fixing ferry rentals at p per
of earned b. the ferries the
Commissoneis adjourned subject to tue call Of the Chair