New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-12-29
WHO ARE THE SWINDLERS
TIE BROOKLYN WATER SCANDAL TO BE
PROBED TO TIE BOTTOM
SENATOR FASSETT'S COMMITTEE LIKELY TO
ACT-MEN IL HIGH FLACES THOUGHT TO
BE NEUTRALITY-SUSPICIOUS. AU-
DACITY OF THE PLOTTERS.

The taxpayers OF BROOKLYN, TPgdru'Ss vi po-
litical affiliations. have never been more thor
ouehly aroused and indignant than they are Just
now ON account of the gigantic job which has
been quietly worked to put upon the city debt
Of S1.25O 900 for the purchase of the Ncw-Lot5
Water Companys plant This price is that
is SO far above the real worth OF the property
that every one is simply amazed at the brazcn
/ cnrontcrv of the city officials who have agreed
10 pay il.
/ Mayor Chapis is known to bc much worried on
account of the action of William Zcslcr. the rich
baking powder manufacturer, who on Saturday
last obtained temporary injunction restraining
the officials from closing the bargain which had
already lccn agreed upon. There ere many Tea-
sons why Mayor Chaplin is worrying. ana inc
/ probabilities are that he will do great deal
more of it before the question has been settled.
The devclopmcnts which will br brought ont in
court before the taxpayers get through WIN 'hc
Mayor and his friends will undoubtedly disclose
u number of thhgs which all Of those who are
Interested in the sale of the water company plahJ
70 the city viii not like 10 have made puDIic'
MAYOR CHNPIN SILENT.
The Mayor has decided, apparently. that silence
/ is now more than golden. because he Is prac'GhHA
/ dumb t. all discussion of the scheme. lie ana 90
/ 50 far yesterday TO admit that he ana not
suppose that Mr.. Zcglcr would make an aihda'i'
/ TO a statement that was not true. This was adj
mittcd by the Mayor publicly IN regard to the
charge that the company had been using the city
/ water and selling it to their customers ior
this admission from such an authority the tan
paycrs will he no doubt profoundly grateful
The scheme by which few men expected 10
noe Sct a large sum of money 10y the sale OF these
works was in part explained in yesterdays tribune
But rs the details of the plot are unioldci' II
shows that there is either an immense amount ot
ignorance and stupidity among certain Bro"Kyh
official, cor that they a great deal deeper III
thi, ioh than thcy are willing Just now 10 admit
/ The history Of the passage of the bill. under me
. authority of which the three Brooklyn once
holders lct their warrant 10 make IN" purchase
tire subsequent actions of those who controlled me
company. and the final agreement TO pnr-
chase the plant al the price named. all
tend t. show that there was great
deal of good uc1 in store for some one, OF
carclc,,uc,s upon the pert of the members oi the
legislature who voted for the bill There have
been faint muticungs in Brooklyn for several
d,,s that the sale would l-' made ami the money
n,id over ON Tuesday next hut the storm dlI not
burst untU Saturday. when Walter j. tiaynor rs
/ attorpcv for Mr. /lcgcr obtained the i'mtoraFt
iuiuu,tion restraining the Mayor. tonirollr ana
Auditor Of BROOKLYN from carrying ont the hdi-
gain
I'-r,iou, 10 that Mr.. Xccl"r had protested hN
letter 10 the Mayor against thr purrha g Of Zee
water work, plant. 70 this. however. the MN'r |
w,s calmly Indifferent and treated the matter
,.,b absolutely no respect This letter waS kept |
fran, thc ,uhlic eve until yesterday. whcn copy |
which had been retained was published The !
lcttrr with Mr. Zicclcrs affidavit tells the story
j., mart of the entire TRANSACTION Much more VII
lao acycl,ped soon as "a number ot lrookItT ia\- !
na,ers have decided that no cNpcnSc VII pF
spared hy them TO prevent tho bargain being |
made. and they will soc 10 IT. th't 'h' /
cas-. is carried 10 the highest courts f"r'h'I-
more II is almost certain that Tie Nil'r Scha''
Committee ON cities will 20 over 10 Brooklyn, and
,h,, water lob will be ofe of IN
first thinss into which inquiries VIII hc made. |
rhi, committee will probably find oni no" |
dcsp the scheme i>, and may find ont /
,,bo have cen pulling the wires behind tnc scenes
rlN>EK >BLr PROVISION or THE LAW
The act Of l--6 Under which authority j, !
vested in the three city officials named Z" H'N |
the plant had most remarkable provision. |
Tia, /, that the city of Brooklyn could not supply
tbc rcoplc Of the newly annexed district with
,,atcr until the Nrv- Lots plant had been pur- |
chased /, j, difficult 10 believe that motives
belnc there. II is said. however. that this pro- /
yi,ion d,d mot exist when the bill was sent ~ |
the cuero>.iua -onm Of IN" Legislature after u |
had lrcA passed. orJ that II got into tie hill !
IA an unknown and mysterious way. such things /
have occurred before in Albany when certain |
end, wcr, to be- Gained. This provision, II i
held hy manv lnwycrN makes the act unconNtl-
rfioqal After th" bill had become law and |
H., larou, c,'dtions were known Great indiena-
iion va, expressed on all sides. and Walter J..
Livingston. the ctulIdlic lor Controller, and
Tloma, +; Rutau, the candidaic for Auditor. pub
Ucly declared thar they would not consent Ia
the purchase Of tic plant. Tie election IN tlm'
year vas fought in great measure on these
lines Their dcri,ion ~ that time and the gen
cral opposition 10 the scheme made the stock of
the. company 50 unprpitablc that the man who
owned the most of H. having bought it with the
intention Of selling l. again. WAS glad 10 get -
cents on the dollar There are 900 shares in
the COMPANY. and on the basis of $40 share the
entire siocl, would BE- worth only Sli5,o0o At
par value the stock would bc worth only So
O0O morr.
poLTrcAL NONlNNTiON FOR HIS rNY
Auothcr holder of stock at that time was paid
obout $40 a share for what he held, and third
received = political nomination for what he hal.
The original holders of stool; complained at the
timc that they were being frozen ont" but u
sufficiently soothing Salvc of some kind or other
was found 10 keep their mouths closed. From
$40 a SHARE which one investor was Glad To get
= short time aQo the property has gone up. ac-
cor,line to the price which the three officials have
.a,rccd fo pay for it, To $500 a share This seems
to h, too sudden and too great a rise for such
proncrtv 10 take within short II time.
When however. the proposition 10 buy the
Dlaut was made, +. II. Trccartn, president of thr
comp,ny, filed with the Controller statement
sboving what purportcd TO bc the assets of the
company They consisted of about twenty weight
acre, Of land which was put down as worth
Sp1I637 80 Good judges of real estate say that
So5o to S4OO an acre would he an cNtravagant
., ,,,. f,r II The buillincs and plant were |