The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-06-10
Mayor Van Wyck Examined and In
duced to Tell of His Connec-
ton with the "COmbine."
SAYS HE LOST ON HIS VENTURE
HIS FRIENDS, HOWEVER. NOT QUITE
so UNFORTUNATE.
John F. Carroll Loaded with Securi-
ties-Price of Ice Raised from
Thirty to Sixty Cents.

NEW YORK, June 9.-Mayor Van Wyck
was called to the witness chair to-day in
the proceedings against the mayor, the
dock commissioners and Charles w. Morse
president of the American Ice Company,
which were begun some time ago before
Supreme Court Justice Gaynor. in Brook
Ign. These proceedings are designed to
show what, If any, connection exists be-
tween certain city officials and the ice COM
pany. The mayor testified that he owned
400 shares OF the stock of the American
Ice Company. which he had obtained from
President Morse, some of it in exchange
for stock in the Knickerbocker Ice Com
pany, of Maine.
did you purchase all this stock subse-
ouently to becoming mayor of the city?'
Mr.. Van wyck was asked.
1T did,
why did you purchase stock in the
Knickerbocker Company"
Because it was paying per cent. on
common and per cent on preferred
stock" When he made the purchase he did
not know that the American Ice Company
intended to do business in New York city.
He had paid for his stock with a check on
the Garfield National Bank and borrowed
IS per cent of the purchase money.
when you made the purchase it was
agreed that you should borrow from the
bank?"
1T was
WAS there any guarantee to protect
against loss on that stock?'
'sNc"
Have you paid back the bank?"
"Are you accustomed to such large fnan-
cial transactions"
Il am"
For the money borrowed the mayor said
he gave four, five and six months notes.
He has paid two notes for SIS, 900 EACH and
yesterday paid one cash note for $50, 900.
Continuing, the mayor said: THE interest
on the notes was 6 per cent When i made
the renewal of the note the block OF stock
was worth 1000, but 1 sold it yesterday
for $6S,000 The note called for $4,000.
lost $1,000. 1 TOOK no active interest in the
thing of its management. l never knew
that the American Ice Company was to
have any monopoly of the ice business of
the city. i never knew they had any leases.
/ never knew that the ice company stated
to the Stock Exchange that it had con-
tract for eleven docks in this city"
Dock Commissioner Cram said he had re-
ceived 800 shares of common stock of the
Knickerbocker Company bonus. He
declared that he had sold all of his stock
in October 1899. because he thought the
matter might come before him in his Of
fetal capacity.
What leases were made to the Consoli-
date Ice Company while you were holding
ice s1ock?
I'VE received application for six piers,
and / struck one out. then sent the appli-
cation to the treasurer. He struck out an
other. Finally We made lease for four
piers"
Dock Commissioner Charles F. Murphy
said his reason for buying stock in the
Knickerbocker Company was because a
man had suggested such a course. 1t had
never come to him that there was an OBJ
lection against any city official holding
American Ice stock He got rid of it in
March. 1900 He got $1,000 for it. Murphy
investment in the stock was $4,000
Vice President John E. Schoonmaker, OF
the American Ice Company, said he had nc
personal knowledge that the ice trust fur
nished ice to the city. He only knew the
mayor by sight. and knew Carroll only
slightly. The price of ice was advanced
from 80 to 60 cents because of short sup
ply.
Mr.. Peckham took the examination OF
John F. Carroll in hand personally. Car
roll confessed to interest in both the Con-
solidated and Knickerbocker companies
He subscribed for $4,000 worth of stock in
the Consolidated. He paid for it by check
He had 1000 worth of stock in the Knick-
erbocker Company. He held block OF
$500 preferred and a bonus of $500 com
mon in the American Ice Company He
never knew how much stock the mayor
held until to-day. Mr.. Carroll said he paid
for the block of stock by a mortgage OF
1880 raised on realty belonging to him.
Adjournment was taken until next Sat
urday