The New York herald., 1877-09-20
KINGSLEYS DEFENCE.

WHAT HE HAS TO SAY IN REGARD TO THE
CHARGES MADE AGAINST HIM BY TWEED
Mr.. William G. Kingsley yesterday made the following
statement In relation the charges made against HIM
by Tweed
In relation to his main statement of paying $685. 900
to the Board Of Aldermen oil the city Of Now York IN
order to make an appropriation OF ST. 500, ,0OO until
after that appropriation was made l mover had any
conversation. direct or INDIRECT With Mr. Tweed on
tho suoJect OF the bridge. Neither before since
have ever had any moneycd TRANSACTIONS with Mr..
Tweed on The subject Of the bridge. Now Mr. Tweed
says that when he became stockholder II under
stood that no should pay on his stock twenty per cent
and alter nat WAS to psy tue oaancc Of the install
mens as they were called for irom time 10 time by
the otcers OF the company. In making that state
ment' Mr. Twctd docs himself IS wel as mo sr at
injustice. After tne first two instalments wore
called ior and paid 70 lhe company Mr.a weed became
involved IN trouble in the city Of Now Y0tk, ,~and
when the third instameat called Tor, hrough
inability or unwilnngness, nc failed to make ths pay
menL Under the act incorporating tho COMPANY, in
relation 10 the manner in which he aImc nts should
be paid In, tho financial officers OF the cities oil New
York and Brooklyn. especially OF the city Oi Now
York. took the ground that they would not pay the
staments called for from the city OF New York until
the other stockholders had paid. That position made
1t necessary To have all the private socs holders
their payments or tno work would have TO stop.
Sooner than have tho stop and the interests of
the private and public stockholders sacrificed took
inc gV,on sn:' would MAKE !he I PaymeT! W, OF @ The
fourth INSTRUMENT was called Tor by the company Mr.
Tweed WAS still unwilling or unable 10 make the pay
ment Tho same position was taken Dy The financial
officers OF the city OF New York. That made u
sary that the fourth nsaiment should paid tho
work would have 10 terminate made that pay ment.
paid the fourth instamcnt OF ton per cont
rwKKD's FAILURE TO PAY.
When tho Nth instalmcut called Tor by the
pany Mr. Tweed stul unable to pay. then came
10 the CONCLUSION mat II was doubtful II he would
make any further payment on the stock. The matter
was discussed by several members OF the Board and
1t was generally concluded that IT was unfair under
the circumstances that the city should take that posi-
holders, responsible ior the filuro OF Mr. Tweed to
make his pay menIs and under shat deration OF
mcnts. and there but forty per cent paid
Mr. Tweed's STOCK. Alter some time-one or two
years-I got Mr. Tweed to indemnify mo for the money
that had paid on his stock oy Transferring to me,
the whole Of his stock, but onc-haf It, inasmych
he mad paid twenty per cent ami twenty per cent
his sock-tha he transferred OF his 40 shares Of
stock 2l0 shares to which had paid twcnty per
cent Now, II there undcrstandng-if Mr.. Tweed
was correct in his statement which, upon reflection
quite sure he will see that he Is nOt-why d,a he
transfer To mc 2lO shares OF his stock having IN
equity interest in II OF Just the amount OF money
had paid on his stock do not think-l am quiie
sure that Mr. Tweed would not Intentionally make
msstatcmcnt about the matter, but ussmuch MS It Is
eight years snci the transaction occurred quito
natural that his memory would not he fresh or ac-
curatc on the sahiecL
rnE FIFTEEN PER CENT
Mr.. Tweed Is inaccurate IN another statement, in
which he says that was 10 receive fifteen per cent
on the cost OF constructing the whole bridge such an
arrangement was never made with me- Immediately
before commencing the WORK ou the bridge the Con-
structlon Comnttee cndcavorcd TO secure services
to superintend and direct the work Tor u salary dc.
cliIcd to act tor salary and proposed that would
undertake to supcrintend ami direct the construction
OF the foundation OF tho towers OF the bridge up
three feet above high water for fifteen per cent tho
cost of that part OF the work suggested fifteen per
or the that was then the customand be-
cvc is stlo The United states COVER nment IN the con-
uction of all hcr large buildings TO pay the contractor
all the expenses and fiteen per cent profit Aftcr
somo considerable discussion and time the Construc
ton Committee concluded 10 pay me fifteen pr cent
not on tho cost OF tho whole bridge, but ony for the
foundation OF the two towers up TO tbrcc feet abovo
high water mark, and that was the only cement
10 hat extent tnat the Bridge Company IN any way
evcr entered into with me, aud none beyond that
talked OF or contemplated at that tic or since Dur
ing the construction OF the work tho business, books
aud accounts OF the company have bccn, IRON lime
time, Investigated by special committee OF citizens
OF tue city OF Brooklyn, by SPECIAL committee oil tho
Board C Aldermen OF the city Of Brooklyn posed
oil It's most prominent honest and publc spirited men,
and by committee OF the Board OF Directors, CON-
posed of the Hon. Abram s. Hewitt, Frederick A.
Schroeder then Comptroller OF the city Of Brooklyn
and now Mayor OF the cty) and Dcmas Barnes, ana
alter long, exhaustive investigation by all these d-
fcrent boiics examining thoroughly and carefully tho
accounts aud business oil the Board thcre never was
discovered alleged by these committees that shcro
were any wrongs, Inaccuracies msappropration of
the funds OF the company in particular.