The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1899-12-26
ROPE R'S DEALS.
Officials Of His Companies
Admit Conducting Some
Of the Schemes,
PROMISES NOT FULFILLED
Money Offered for Loans
When There Was
None to Pay.

lSpecfai 70 ne Jersey lily
NEWARK, Dec. %, 1Ss9.-Additional
facts about the management Of the teal
ty Corporation Of New jersey, OF Wnich
Oslner w. Roper was the reputed mead
and moving spirit. were developed ct the
hearing before United States Commls-
sioner Whitehead. Friday aftsEnoon, on
the charges Of using the mails for Irauau-
lent purposes. which the Government ofli-
Gals have brought against Roper.
AS has been told in the News, ROPER
was arrested on December II on those
charges. and since that date he has peeh
arraigned before the Commissioner Tor
examination on taree different days. the
| chief witness SO far called 70 produce cyl
derce thai Roper had sent c~ireutaEs ana
| correspondence through the mail tnA1 ne
INTENDED to defraud, mas been PoseeEnee
Inspector Snow. upon whose complaint
the accused was appreheHded ana mas
since been in jail in default of bail
AZ Fridays hearing Snow was again
put on the witness stand BY United STATES
District Attorney ]. Kearney Rice Tor
the purpose OF producing c-orresponaence
consisting of complaints from persons n
many parts Of the country that ley ilaa
heen unable to obtain the loans when
literature received from the Roper enteH7
prises had led them to apDlyfor. as N the
case Of similar correspondence pnSdnsea
1T former hearings the inspector Sesssneo
that outside Of what fault the wrleeEs
nxurgssed in the letters. he has no person.
al knowledge of the complaint or COM
~plainarss. &,
Ross-Foster, who was or the stand al
Of the morning session, told of MS con-
nection with the Realty Loan and Trust
Company, which is alleged to have been
| one 81 the concerns allied with the Realty
e.ornoratfon. Roster testified that Tor
twelve or thirteen years he had been en-
moved in different capacities by q local
newspaper and while acting as collector
for the publication became acquainted
with Roper. The latter, he said, had sng-
1esfed to him that he become interested
ii the enterprise which Roper was then
~endeavoring to float.
II was a great mo~ney-making
scheme, he was made to believe, ana
from Roper's representations, conceived
| the idea that, as he put il, he wouia
| speedily become a millionaire. AZ Repers
solicitation he became one of the ineer-
porators OF the Realty Loan and Trust
Company. That was in May, 1888, and
the concern was intended, he said, to DO
a general real estate business. IN the fol-
/ lowing fall Roper proposed that what he
! called an annexed, company be formed
/ for the purpose of doing a building and
loan business. Then came the organiza-
| ton of the Four Per Cent Mortgage
Company which, with the Building Loan
Trust Fund, the authorities claim, was
M s4ZE Il, L-- NJ TEonhrsr
with several Of his friends Foster be-
came one OF the Interpretations. Ihea, I'M
der cross-exarainatfon by Frank p. Brad
ner, counsel for the accused oster adj
mittea that Ropers name did not appear
as che Of the -fncorporators. but he was.
as Foster declared. 1.-The brains OF the
whole shooting match Foster was made
treasurer Of the -Four Per Cent. Com
/ pany, and for several months all the mon-
ey Of the concern was received by him
and TUNED over 10 Roper, less the rum
ming expenses ard mis- own compensation
Of SO a week.
Then, Foster asserted. he .'got his eyes
opener Z made up his mind that if he
was going to be neld responsible for the
funds he would nave a bank account
which he alone could control Acting on
this determination. he opened an account
in the Fidelity Trust Company, ard from
then on was in sole control Of the finances
Of the company. A few weeks afterwaro
he resigned.
as il not true Mr. Braauer asked,
'stllat your resignation was dem2rdeu be-
cause you were accused p using tne c91n-
panys money te pay a debt OF your cWn7
.sIt IS not true.p the witness declared
~ had 4 right 10 use the money TOT ina
purpose. II was drawn from the bans
Rer1gvjne IS Mr.. Brsaner's questioning.
Foster said tslat money PAID % EogSl
was paid TO htm nat a. an an.9lNiHlal ~
+ Jersey. He had, however, always sPoktf
81 it lis mis- company. ara Aad aaxancet
the Necessary funds TO organize ana Ear.
the -Four Per Cent and the heaIN la{4'
au1 Loan Cempanies. He was asked bS
Mr.. Bradner if at AIRY tine before or cur
ing his connection with either q IneS'
between Roper. ana himself tna5 sltael
concern should be carried ON for the puS'
pese Of obtaining uaoney from subscriber:
throughout the cSaStry ana give hothans
roster answered THAI there was posi-
lively no such agreefnehS, nor was lneEs
a taeit understanding 10 Sna EItect g
emphasized the assertion ttat at no tint
! had there beer a design TO aefraud any
body. He had determined TO resign pc
cause no loans were being mace ans
ne knew eldL AoHS SpNt1 ~
there was no one in the treasury ~
said that the officers of the company
knew that It would take a good deal o.
time to receive money sufficient to 40 50
II was wrong. he thought 10 lead peopi'
to think they could, when they hadn't tn.
money. Roper had promised he woutt
supply II bgt had not done so.
A female steaographer in the seInplol
Of Roper testified TO having written many
Of the letters in evidences from Roper
dictstton.
eve admit all that said Mr.. Bradner
and the witness WAS excused
Norman G.. Sears was the next witness
Tie told Of having succeeded to the Office
of secretary ard treasurer Of the Fou.
Per Cent. Company. on August s. 1883
when Foster resigned lie himself re
Upon taking charge he had found
{ shortage of $3.50 in Fosters accounts. H
couldn't learn wal became OF the none,
except that 1t WAS transferred to the ac
i count of the Realty Corporation, mostl,
to cover advances made BIZ the Realt.
Corporation. He had become a direeto
Of the Building Loan Trust Fund in tn
i spring Of 1896. and never during this tim
had there been any cause to believe tina
ii or the Reality Corporation was trans
acting d dishonest business.
Before he became treasurer Of the Fou
Per Cent G6mpdny, Foster, the Wifales
said. had told him that he d~isapprove'
of the methods in practice and that h
did not think everything was right. II
himself had No reason % believe that th
business was being frauduiently conduct
duties large number of complainants be
gan to come in from persons who ha'
applied for loans and failed to get them
He asked Roper for an explanation.