The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-11-13

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Funeral expenses OF J. T. Roebng 324 rs
October l4-Janitor and kilograms. II 80
OCTOBER 1-Desk and wheel chair for Mr..
Kingsley. ..-................... 300 %
Total ,Ole 90
KINGSLEY KEENEY
PROVIDED FOR.
The resolution to pay Mr.. Kingsley unlimited
OF money, upon the OF advances made by him.
was datsd July IL will appear by the above that the
advances were repaid i've months previously, and only
amounted TO small proportion OF the money which
was drawn out by HIM. He actually drew under this
resolution SITS 600
Another singular feature OF this extraordinary
transaction IS found in the fact that the money as
drawn was not charged to Mr.. Kingsley it
placed In the salary account with other salaries paid
IL was hrst charged TO commission account and this
account was erased on the ledger and placed to
special expense II again transferred from
that account TO construction account Among
tho directors william Marshall Dcmas
Barnes William Hunter, Jr., and q few gentle
men who had in good faith contributed $1,000
and $l0O each 10 promote the enterprise. They in
sisted that an examination should be made of every
thing pertaining TO tho bridge management that the
doors should be opened TO the press that the material
should be inyentoried and compared with the money
paid out for it. and tho public informed in regard
the whole thing The history of the appointing OF the
committee through the Efforts of Mr.. Barnes is not
obtanabe but from the files OF the newspapers of that
date IL is found that to the CONSERVATION OF the
ayers Barnes had secured O committee consisting of
himself, f. A. Schroeder and A. s. Hewitt. They COM
menced their examinations about September l. Their
reports were not made until the 9th Of the following
January.
Mr. Barnes directed his efforts TO an inventory OF
THB MATERIAL AND SUPPLIES
furnished for the purpose OF comparing them with the
money paid He did not anticipate any rregularity In
tho books but discovered the transactions above
ferred TO- He found that commissions had been paid
on all the material furnished and the salaries paid,
the labor payroll Office rent, the land purchased
and on every disbursement OF Whatever kind until the
1t ascertained that the Committee Of Fifty had
presented q respectful memorial TO the Legislature,
ing for legal committee of examination. the ap,
pOiQtment of which defeated bv the bridge
ayers Two civil engineers were employed Egbert l..
Vielc and f. Q Miller, to measure the material paid
for by the Bridge Company Obstacles appear 10 have
been placed in the way OF such measurement when
they resigned their employment and the Char
man OF the committee letter, OF which the following
NEW Yonx Nov 10 1874
DEAR SIRI find it impossible to satisfactory
innate Of the material purchased BY the New York Bridge
rem BY the shifting Of the
much detective skin professional acunsn which service
mus '''''' EG Rsi l. vIEIE, Consulting Engineer
Not having the legal power to enforce the exami-
nation Of books and records of those furnishing the
supplies, this part of the investigation amounted 10
nothing.
WHAT THE coMxrrrRE REPORTED
Two reports were made, one by the Chairman, Demas
Barnes and the other by Messrs Schroeder ard Hewitt
Mr.. Barnes recites the details in regard the
of bookkeeping, SC, and said 'that the powers
of the Bridge Company had been monopozed by the
Executive Committee, which had appointed all the
agents, furnished all the land, audited its bills
appointed It's own attorney, fixed compensations and
had not reported the same to the Boardn OF the FL
nance Committee, he said ''This committee has never
held meeting or made report although its Chairman
was appointed position for the fourth year.
In regard to the commissions paid to Mr. Kingsley he
SAID that when the OF ST. l7g 52 had been paid
by the company the Of sl75 600 had been paid
Hr. Kingsley which fifteen per instead OF
i've. The word fifteen and the ngurcs 10 had been
erased in the original entry, and 5, in a egure,
inserted He reported that credit given for money
received on account OF private subscriptions which had
not been paid IN or reached the bank. Messrs Hewitt
and Schroeder said in their report-'Thcre has been
paid to Mr. Kingsley under this hfteen per cent?
luton (for advances) the sum Of $l75 600, amount
largely in excess Of the sum which at that time had
been paid by all the private stockholders account OF
the stock held by them At that time the expenditures
on the bridge amounted to 81 l7O,53l 40 showing an
overpayment Of S116,023 93 The payment Of money
TO him beyond the amount to which he was entitled
could not be explained any hypothesis consistent
with the proper discharge by the directors Of their
The resolution in reality fixed the compensation OF
Mr. Kingsley at fifteen per cent instead Of i've per cent
but when II was found how large the compensation
would be- the rate reduced TO five per cent and
erasIre made in the minute book 10 make the org
ina resolution correspond with the change The fol-
lowing the resolution recorded the minutes
OF the Executive Committee-present Messrs. Murphy
Hustled, stranahan Tweed, slocum and smith
Resolved That Aye q per coStqP on The % otas
high water mark including the for land DO
Tor bis services and behalf Of the company up
the completion Of such foundations.
REPORTS
OF the committee work almost abandoned on tho
bridge for time. The President and several or
the directors resigned their positions, and reorgan
zation was attempted. jeremiah 7. Robinson was
made President and William A. Fowler, Benjamin H.
Tracy and other friends Of the managers we're
placed on the direction hessrs Marshall and Barnes
were len out IN the formation OF the new Board The
managers prepared bill by which they were to be
paid back the money they had put into the concern
aud claimed they ready TO abandon their relations
TO II forever Governor DIX vetoed the BILL and they
nursed their positions along tor a couple Of years,
when they secured the passage Of bill giving TO the
MAYORS and COmDtTOllerB of BROOKLYN and New York
each the appointment OF eight directors The bill
provided for the repayment TO the private stockholders
their Investments, with interest, which money was
raised by the issue Of bonds payable by the cities
large Mayor Hunter and Comptroller Schroeder re-
appointed Henry G. Murphy, J. ). 7. Stranahan and
William c. Kingsley to their old positions in the Board
Mr. Kingsley had been made director during some Of
the changes Of the previous year
THE PRESENT DIRECTORY
OF the bridge consists Of sixteen men, majority Of
whom are believed 10 be high minded, thorough and
honorable business men. But, very singulary, far
as Brooklyn concerned, David NJ Stone, editor OF
the journal Of Commerce ex Mayor Samuel Booth and
George l. Nichols, an importing merchant, who had
been Tor a few months in the directory, had 70 give
place TO other gentlemen more acceptable 10 the
appointing powers. No men in Brooklyn stand higher
than the three referred 20.
MR. KSGsLEY's DEYEScE
In the course Of his reply to the Committee OF Fifty
Mr. Kingsley said when the subject OF compensation
was considered some talked OF twenty per cent some
fifteen, ten aud some five upon all expenditures
till the foundations were up TO high water mark With
my the directors finally liked IL at Ave per
cent and this Is the Sl25, 900 received. AS salary,
the amount Is less than any company could got my
vices for during the time aud in the face OF
half the adverstes As a remuneration TO a contractor
taking charge Of grand enterprise It Is well nigh
Insignificant This statement fails TO harmonic with
what was made about one year subsequent
CONTRADICTORY ADMIssI0Na.
AT meeting Of committee OF Aldermen to investi-
gate the affairs OF the Bridge Company, held April q
1873 Mr. Kingsley called TO testify and stated that
he was superintendent OF the East River Bridge and
had been director of the company since June 1872,
but was not one the incorporaors He became per.
gOnallV Interested In enterprise 1856. the
ginning Colonel julius Adams connected with him
In making up tho plans. The directors wanted him 70
take the position Of general superintendent under
salary but he had his time pretty well occupied and he
declined take the position for a salary.
He agreed however, to accept the position al fifteen
and spoke Eve per cent and finally they told him 20
go with the work and they would make satisfactory
arrangements The matter not settled until early
In Iulu 1870. he then claimed vas nnilLlnd