New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-04-22


did not know about these matters. and you would
have to get your clerks to tell. and am little
surprised at your knowledge. A.-Not at ALL !
was referring before the city officials. Now l
am referring to the contractors
FIRST. What did you DO, or what did your clerks
do in presenting the claims of your company to the
them cards and circulars that we are prepared 10
write their bonds at the same rates the other
Q.-You do send circulars? Ave most
suredly do
Q.-And you never heard, do you know. that
very. many of the city employees take out the.
bonds in that company? A number take out
bonds In the other company.
Q.-You know there city employees who do
that? Ayes
o.-Employes in departments of this city gov
Q.-Now that the contractors. where you say
they have 10 get two sureties do you say that Mr..
Flynn. OF the other company. has told you that
the applications go to him first? A-Mr Flynn Is
ing that they be placed as cosmetics the bonds
with our company The Controller requires two
has, on bes sSn ey % On
every city contract that we have; but we have
not been placed as co-surety very happily on any
of the canal contracts
o.--That is an answer that you studied out be-
terested to know IT, Mr.. Moss
Odd you get that answer put In your mouth
az the Democratic Club last night? A-No more
Q.-Then you were not at the Democra tic Club
Iast night; were you? Al VIII SEND you DOWN
memorandum Of my movements yesterday II you
Q.-Were YOU? Al there.
Q.-And you there pretty nearly every night.
are you not? Al live there temporarily
HE DOES NOT TOUCH POLITICS.
Q.-And in consultation with Mr. Croker con-
stantly about politics and business? Al have
nothing to do with politics. hold no conferences
OF political nature whatsoever.
Q.-But you have a good deal do with Mr..
Croker in business way. don't you? A.-No,
mostly OF social nature
Gle has never helped you to get stock in cor
in getting stock in any corporation without my
having paid for IT,
poration that you have stock in7 Avery cor.
poration that hold dollars worth OF stock In
Q.-Paid for it? And the transaction would show
on the books Of the company, would it? AL
Q.-Mr Croker has some stock in this guarantee
and bond company OF yours. has he not? Ayes
a., d hooks ne pay 'GF e .nSs show s
ment? A-They will show that the stock is paid
9-Thai he he paid paid for IT, AI, was paid for
Ooh. come. come You have given yourself
away. Al have nothing to give myself away
for 6 @afo to d air Did he pay for
Ole helped to pay for it? Ale has paid
o.Nwhen? A-when he got It.
A.-By check? Al don't know.
money that was received from NJ. Croker: A..
books
was received from Mr.. Freedman. who bought the
stock and paid par for It, for Mr.. Croker .,
Q-I want answer TO that question. Al
thought you wanted the pleasure.
Q.-Do you enjoy II? Avery much; more than
Of 1t is any pleasure you. we will give you
plenty OF that kind Of enjoyment A-You can
| proceed right along. am here for that purpose.
HIS IDEA OF GOOD MANAGEMENT.
Q-Has the company declared and paid any divi-
dends? Alt has paid dividend
Q-How is that? Do you attribute that to the
cutting of rates? Ave attribute that to good
hnancerng.
Q.-To good fnanciering. that it has never paid a
dividend? Ayes they believe in accommodating a
| large surplus.
Q-Are you accommodating a large surplus? A
! We A very large surplus.
| Q-There is a sort of cutting war going on be-
have to inquire about from the other company
Q.-I am asking you Al don't choose 10 tell
you that is matter that don't concern you not
Q~You are like your mentor; you will choose
what you will answer. and you will choose what
you will not answer? Al will reply in a gentle
manly way to any gentlemanly question that per-
oSApe these gentiemeny questions or are they
! not? A.-No; you have no right to put TO me a
| question that has no bearing on this invesuga-
The Chairman-You are not to Judge as 70
! vestigation or not The committee will decide that
question. You are not to pass your opinion on IT,
The Witness-He is asking me about the finances
! Mr. Moss~I am asking you II there is rate
emitting war between your company and the other
company. A.That you will have to inquire OF the
o@No. but am asking Of your company. There
must be two parties TO IT, A-There can't be war
"t o@Exa sSf Now are you engaged in rate
cutting war with the other company? A-You can
ask the other company
Sir. %ossAMake him answer the question, Mr.
The 'Charman-Read the question to the witness:
The Official stenographer treadnsl-l ask you -, II
there Is a rate war between your company and tae
| other companies to which you have referred?
At is not applicable TO this investigation l.
Are YOU in the rate cutting? ~.
The witness-I refuse TO answer any further' MI
Q,HT direct you to answer the question on behalf
The Witness-I refuse 10 answer any further.
have replied 10 the question
PLATT AND CROKER "DIvvY."
Dwell here are two companies, Mr.. Freedman
that are engaged in giving bonds TO city con-
tractors. You say they are both giving bonds, ana
giving their bonds together on the same paper?
Ayes. sir.
that are bonding the city officials are engaged IN
cutting each others rates That Is a prsctic c,
and / ask the Question again, having given you
reason for H. Al will inform you about the
they received one-halt OF each premium tina. we We
receive no more, no less Should we receive sD ~
bond the Plat company receives $500 OF 1t as cold
surety. -, T.,
Q-Then instead OF there being war there is
cornbina ton OF them? A.-No. but there are other
departments, other branches OF the business, the
suretes and the fidelity.
oNRut upon this matter OF bonding city con-
tractors do YOU mean TO say there is a combina-
ton between your company and what you call the
Platt company in which the rate is divided? is
that what yoh wish TO say? Al mean to say
~5 ht eve Company It may be. receives one-half
o'"Then you say that applies to any co-surety.
any company? Amy company that we place on
the bonds as co-surety 80
O-Have YOU made that arrangement with any
other company than the you call the Platt
company? Ave have with several
O-Hov long has your company been doinS ousl-
ness? A-They have been doing business In New
York since December 1896.
The ChaIrman-Was not the company organized
before that? A.-They were In business year
bafor 7 he