The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-11-01
TRACY TELLS(ERAMAPo.
HE cor $50 SHARES or sTOCK FOR
SERVICES, HOLDS MOVIE NOW.


His Law Partners and Senator Plat
Not Intercsted-Coupo iiman McGarry
Gets His Knife Into Uncle Gray, CnnJi-
date for Register..Gray Dlsobeys subpoena
For nearly Ave hours at stretch Gen. Ben
jamin +. Tracy. formerly President OF the
Ramapo Water Company. was on tho witness
stand before tho Maget Com mitto In the Board
OF Trade and Transportation Rooms yester-
day. He made clear from beginning to end
his connection with the company. answering
every question put to him. though some he
answered under protest. Assemblyman Hoff-
man did most OF the questioning, but failed to
make any political capital out Of the witness.
and finally insisted on an adjournment The
World snenked In a lawyer in tho person OF
Borough President Grout OF brooklyn. who
by conceanR his principal got q chance to
question the witness and was roundy scored
by the Committee when he was found out.
Gen. Tracy took tho stand about 8 O'Clock In
the afternoon and in answer to Lawyer Moss's
questions said that his connection with tho
Ramapo Water Company began In 1897
shortly after its formation. when Mr. Lamont
asked him 10 become counsel for the company.
Gen. Tracy was to take stock for his compen-
sa,ion. and. in all. owned $50 shares. He holds
none now. having sold the last 100 shares last
July by cable. lie had sold all the rest by last
May. when he sailed for Europe. All was sold
before the Rnmapo contract came up before
the Board OF Public Improvements. He did
not know that the company was negotiating
with tho city for this contract. Gen. Tracy
became president OF the com pany In tho fall OF
1895. He then received $50 or $50 shares Of
stock.
=. Prior to your becoming president was
there any rumor OF an attempt TO get some
~ ina nj Inf 10 apt "a
president OF the Ramapo Company? A. In
September. 1895. when l came back from
Europe. Mr.. Lamont showed me plana and re-
ports for m electrical plant and wanted me 10
become president l was in moor health and
unable to attend to my law practice; so 40
oertsd. held the place for eighteen months
and found my health improving. BY 1897 l
f"lt myself able TO return to my own profession.
| so I rendered my resignation for that and
other reasons. Judge Trua1 had suggested n
new departure in tho companys plans saw
that Mr.. Lamont was unwilling to give M his
control OF the contrary. which wss II Gisad
vantage. There was also III" devslopm snt OF
| a Brooklyn company Ia opposition. Also tho
newspapers had begun to talk about the
family NV frm and to abuse mo as a
! partner OF Mr.. Fats son. and on the whole
thought II best not To- take the responsibility OF
/ being the head q company which sought to
! make contract which. however honest II
| ght be- would subject US To scandal and sus.
| ricion. Judge TruaI had an English engi-
! nser here Who sail he could raise Engilsh cap
/ ical ,o- the pant. but Mr.. Lamont wouldn't
/ accept the terms the English syndicate offered
| US WAS president when the com parry was try
! ing 20 get contract with brooklyn. propo-
| s!tIcn -rs p-eSer:sd & TIE D.trt a AlI-.n.c
| went 20 see Commissioner OF Public Works
J White OF brooklyn and told him that the Ram
| apo Company would be ready TO enter into
| competition for M additional water supply.
Gen Tracy was ask I'd what property the COM
| Iany had. representing tho $2.IpO. 900 81 stock
used In lS<' There was no land. h. said. In
! the vosss-s.pn " tho company hnt much
! money hal been exponi"i In OPTIONS. plans
! and spec lratious He hadn't heard ~ great
! deal o. the stock being issued In small blocks
| and given away to persons supposed 10 10 pos
s.sssi o. political Influence,
| q Did you have anything 10 do with the pre-
rnrntiou or presentation oi the act Of 1890 be-
! fore tie lcc!Slature' A. No.
q Did youcsbls TO Gov Morton regarding ~
A. DID Icah!ed him that Thought it was a
proper bill, for him 10 sign.
= Were you then prs.!denn A. No: only q
siockhnlder
| q We're you c'unsel1 4. | dill not 40 CON
slider myself. When becnm. Secretary Of the
J Navy Transferred my hus'rsss to hrFarllns.
| Boardman X Tlat found on my return from
! Washington that Mr.. rlatt and Mr. Bosrhman
| mad conceived dislike Tor Mr.. Lamont. and
! found that the nrm could do no business with
him. Thereafter my relations with Mr. La
! mont were those ~ M ordinary stocEho!der
until became President q the company.
| Gen. Trucy said that neither sN-Gov. Morton.
| Ashley ". Colo. his private secretary. Senator
IIn,t nor any OF the Senator's family. nor any
| ,,ul'iN'V far "A Ia
knew. was Ramnpo stockholder while he
was. lie did po,Enow OF any trust fund in tn
| company.
q Have YOU heard q plan to Increase
| tho stock and glvs the increase TO city
u ;raetf 4 Wsknsw tist Il We dsv"i"psd thc
| stock because We ar" forblid by law 10 issue
bonds FOR more than SI.5ou,Ooo, our Present
| capital stock, and wo needed much more than
that to complete the work. That's all know
| about that
. What was the chief purpose o. the com.
pAny when you, became rre.tlent2, a, The
establishment Of great electrical plant. but
We contemplate alTsys the sale Of water to
Tracy SAID thar the stock given 10 him Tor be-
fHnt e.. r% Of S"S ri H F, f %ad
ppo.hniGs 90 Do with I: Nj Holman asked 4
fs %.I:%' s1s S!Ht TnSsy
replied that Mr. Plat was opposed - il. wish
MSrion tod Gem Tracy Rs sn TTscy had
not road ths bill in behalf OF which he had
cshcd to Gov. Morton. but knew its general
purpose.
Nj Horrman-Then you advocated bill that
you hadn't rsGd' A. did. and In that respect
| ] lam Justly subject to criticism.
. Do you know that Senator plAtt was not
n stock holder IN that company A. | DO. He
couldn't have been u stakeholder aud not
know 1t.
Y. Yoa haye testined that no person pronlL-
nent In politics WAS n stOckholdsr In 1877
Weren't You prominent In politics In 1892
A. turned out not to be very. Laughter.
y. How much did YOU sell your stock for2 A.
prefer not 10 tell; but n tho committee In
Stats will not decllns to answer.
Mr. Moss-l think Gen, Tracy should com
tnuo his answers with the same frankness as
hitherto.
The Witness-yery well. For tho first 25tl
shares received SO share. tor tho other 400
$40 a share. | do not think that should have
been cnllcd upon to stnte this.
Mr. Holman asked him IN what corporations
In this State he IL a stOckhoder. lilo replied {:
why. think that's an invasion on my pri;
vatc rights, but II the committee insists will
answer anything
tiOns in this State do you own stock A. In the
PhnniI Fire Insurance. understand. do /.
,hnt tkn m II ra n the uueStiDn