The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-28
..wno did you buy the Ricketts, property

did :lN your .,r,,
s.The Union Trust Company. I think
Inquiry by Chairman Moore:
Had any one talked with you about be-
ing treasurer of the board before you We're
Calvin. Mr. Russo. Mr.. Roth. Air. Loeper
Where were the other members of the
II don't know"
You fixed it all up that night. did your
Eyes, SIR 1aughter)
The witness told Chairman Moore that
when John p. FrenZel dictated letters to the
he dictated one to himself. Afterward he re-
piled to this note, declining TO take the
School Board. = va
Mr.. Young, continuing: a
You said in your card to the public that
you would not support any man TOR treas
urer who would not favor interest on the
funds, didn't your
elected treasurer
you supported yourself didn't your
''I did; yes, sir.
.aThen you supported man who failed to
do just what you promised would be done,
didn't yo9 se 90 o f you @ ad ba !, gGdu and at
the same time rent buildings for school pur-
| poses?'
Il considered that we were pursuing, good
policy" Mr.. Adam admitted that the board
was paying 200 year on the ricketts, m
| ton from the witness that he had spoken TO
Dr.. Henry Jameson about the Ricketts, pur-
chase. DR. Jameson thought !. Wou QUO. oe eta q
did You tell him that the board was al
| ready in debt a half million? asked MI
| Young.
He knew it, replied the witness for ne
was formerly president Of the board board s,a %,
| write to about that deposit, Mr.. Adam"
| -Four banks, think
How many were there in the city at tnat
| time ?'' ;,
There were seven banking institutions
| Thomas c. Moore, who negotiated the
Ricketts, deal, was the next witness called
| He said he was engaged in the business OF
| conducted the examination.
when was the Ricketts, property brought
| to you for Sale?'
| 1894 I understood it had been in the mar
| ket for three years. did not see John W.
! ried one of the heirs to the property He
gave me a price subject to the confirmation
Of his brother The n latter w ss %as out Oh
For whom did you want to buy II.
Il went to buy it thinking l could sell it
| "Didn't You go to buy it for the School
| Board?'
..To whom did you talk about buying it?'
81 talked to John p. FrenZel and Mr.. Mar
| tindale.. I think / talked to Mr.. Frenzei
..Why did you go to him first
| Because 1 knew the School Board had no
|
school bonds to Frenzel in case | had to
| take them. He said If | could get the prop
ery at pr price wo ana n ne 6s or the
| Indiana Trust Company
.Did you tell Mr. Martindals that Mr.
| Frenzel said the price was fair!
| Eyes. I did"
What did he say?'
"He thought the price was fair. want
| to say this in regard to the option: got it
/ from Harry Murphy July 3, 1894. When he
saw his father he wanted to back out s.,a he
4 Board TOR a good deal more
| Now, air Moore. how did you know that
/ Il mad known it for long time. / think
the matter came up during a conversation y,
| "Isn t 1t fact that John p. Frenzel was
the first man to suggest that deal?'
Mr.. Frenzel is large dealer in securi-
| ties, isn't he? You are often in his bank
ana often meet Mr.. Martindale there?"
When YOU first talked to Mr.. Frenzel
don't he suggest that the property was
| "No. j first got the price from Mr..
you and Mr. Murphy belong to the
why did you have this property decided
| II did not want the Murphys to know
/ that the School board was to get it.
l.lew that if they did they would ask
From whom did you get your commits
! sion.H
as t sof bu " the bonds for Five
dred dollars was taken off as discount
/, You didn't know that the Murphys of
for s4oooog'
you didn't know that they offered it to
4 Horace Mckay for s5o,oOo?"
| Mr. Mckay
| Then MIR. Mckay was wrong when he
/ told this committee that he was offered
| the property for s5O0O0?,'
Did Mr.. Frenzel get anything out OF
mot that know off,
The witness told Chairman Moore that it
! It was not worth that now. he said but
| was very valuable. He stated that the
property was now renting for 1925 month
| He believed the School Board could easily
| dispose of it now for 100000 Mr.. Moore
said he believed that the Ricketts, property
| is as valuable the ground owned by
| General Wallace at Meridian and Vermont
| streets.
claimed attorney Brown.
Il do, SIR replied the witness emphat-
ically.
| well we'll excuse YOU" returned the
attorney. with fine show of disgust.
| CHARLES MARTINDALE TESTIFIES.
Charles Martindale, attorney and presi-
| dent Of the School Board, was the last wit
! ness called by the inquisition. He was kept
|
| Martindale said he had lived in Indianapo-
lis all his life. He was elected school COM
| missioner in June, 1893. The political COM
| plexion of the board was seven to four in
| favor of the Republicans at that time, Mr..
Martindale did not remember that the
election of Mr.. Adam to the Office of treas
| urer was the result of a caucus. He had
| talked with Mr. Scott about it, but did
not tell Mr.. Scott that Mr.. Loeper was not
to go on the building and grounds commit
| tee.
You had Joined the Frenzel crowd.
hadn't your" SUCCESSFULLY asked attorney
Brown.
Il don't know what you rnean.' replied
the witness. I'VE voted for Mr.. Adam. all
| of u.s.
when did you first hear of the Ricketts,
| deal, Mr.. Martindale?"
Probably In the fall of 1888
Were you needing more room when the
deal made2'
Yes. Mr.. Jones had protested against
the overcrowded condition of the school"
when did you he4r definitely about the
contemplated purchaser
Il think in June, 1884, The matter came
I'D first between Mr.. Frenzel and myself as
/ to our acquiring property before long and
as to the manner i'll which we could pay for