Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1900-11-09
VAN wYck,s ICE STOCK.
HIS Answer 10 Charge Of Owning Stock in
American Ice Co.

4
answer is addressed 10 Theodore Rooss-
Welt governor Of the state az New
York. In his reply the mayor says that
| II Is an answer to the charge preferred
| against him by David Ferguson and
Louis Southwark. He says that hi
does not own any stock in any ICE com
pany. and that he has no direct oT
| indirect interest IN any such company.
De continues as follows:
Upon April II. 1893. he bought from
c. ". Morse 5eoe share=s Of the stock
q the American Ice 90. for $3.50 900.
which Was the fair market value there
Of. OF which sum ] paid $4,000 IL cash
by three checks and ! gave three prom
Issory notes for the balance. one :o-
$50 oJo and two for s75,6 600 each The
stock was issued TO me and by me de-
! iix%red 10 Mr. Morse as collateral Sc
curity for The notes. : lbsequenily the
notes and collateral = ere transferred
10 certain banks. They were renewed
from time to time. the interest being
paid By me Finally The notes we've
paid IN fun by me with interest out q
the proceeds Of the stock IS hcreinaf-
ter stated
i had been a stockholaer in the
Il rir kerbocker Ice Co - Maine ing
previous to AprI II 1899 ana haa paid
fer my stock therein. $4,000. which
was the fair market value thereof
received a printed circular about May.
1898. from the American Ice Co. offer
ing ~ exchange their stock, share for
share for knlcke-bock@- stock and
made such exchange. My entire bold
Ing III the lC. stock has bean =y-d iE
tn open Ira-k.t On the New Y4Tk
Exchange ID vzreus lats far S-sl--ls-- =.
paid tl- -h, stock go 19o-
The mayer tnru goes on lo say that
h-- r. vas served with Justice Cay
uo-'s order IT. ne latter part u Man.
h+ dl1 lw1 $50 shares 70 stock Z N
A American Ic4 t-9 and That t-s .rie-i-
Il su aas the frs J-r-- .- ~ Ia-te-
par, Il Nay called - the t4-. lla- the
Ara-r4can ne ta- ha- contracts with
the c..y u supply 5ce ana that r oun -
e1 Stock Il The Consolidated lLt tt-
w hiL- haG leases -t COCKS from th-
c.-y. CriH ;hst ZINE ~ Rad I'D kno"l-
edge that tn American lce Co. ur -h-
k-..g ke-h9rl-e- -n-- ta- lf anime ever
did a- eve- "a t-.5 have any contract
cf -tn-- re-ati p vita -n~ l-tE- lr th4-
-he Consolidated I-- t'l. mad any leases
u.-h 1l- tlty -lac a. htu advised = m
far .s h. began h. seI his st1- ~ ana
continued r4 s-I urt- J-a- ~ 1900
hen tte lasi stock Tas sai-.
F-a-r THE proceeds TX tn sat at .h-
s.5ck rh= mayor says mat the nl.es
for 900 130 given sy h.-a upo1 n pu--
chase X TIE rat3 shares pt the A----,-
ra- r. cos stock were ra55 Il tu-
hi III interest a. = per cent and -Eat
s.r-e the eSth Eay rf june. 1890 M ms
-r- rs6 any interest. direct ~ indirect
"a any j-e company IS II kh7ider n
Y. h-rUls.. that tr- III. Stock he JAIN
h fair market value and that n 1i3
~ receive aEy ef "a Is So or Crg-
= nominal c1-s-1e-a -I1n-
The mayer then taks-s IL. -1- -hl-5
charge. which j. Kin the efte-- t1at a-
became -r.aRf1- ly Interested 5n cor
tractS R.ih IN 5--y-
lIa Ezz trs- informed ahalt the FrE c-
Nay -hat contracts .a5 Been made ir
January. $50. WITH he American L. c.
fo- TIE Supply n inc ro the rl-z "a Sew
YORK lie says ,-a- although re ha5
-l-ht % continue % hold sad stock. ~
Immediately r1at51le5 ;7 sell X and mat
e a16 so-5 IT'D q: als stock by Ju7e .
--91
TIE mayer nsxt -ak@5 - I'M provision
II Section Isl x the charter. EAlcc pro
ksbl-s . city Officer f-cz7 being interested
ir city contracts. a.5 says tat il srT
Indirect in:e-es: IT ire contracts q ire
American Ice co. WIS acquired 81 him
X was rr- within -Ae meaning af -als
statue. because 4; was 6ero.vc1 UP3-
hin by .aw am Il vas 19t knowingly a.
71i-e5.
MAYOR Van H.ck 1ez- take - he
conzi3erztf tier RI TIE capitalize -l1r ~ me
American IT, ca He SAYS rha- the p-sc-
fical and accepted co1st-Urti77 * ne
section of 1he charter reterred t3 UPWARDS
II = years has been tAat z s-ockho.ds- n
= corporation having contracts ~ita 80
-.tv need not haza a direct ~ ia6.1ec- iri-
;r~czt - such contracts by reason % iis
ownership cf p ra.na-5.y q Jhe s-ock-
I-a goes oD ;o explain -hal t14 t--Hrl-
can Ice g. Had II ts9s outstanding cor
tracts a-lau--ing .o g. or 111 divided int
..Ji JUL shares lf Sl1J each Aar1- Van
WICK .hez sag tha- Ia has been IL
formed taat during the admins -ratl1r If
Na-a- W.T.. vi Si-l-E le vas sto-E-
holder II IN Ce---al Na-io..al Bank ana
New York Security end ---St C1- ANA
tha- those banks made contracts rl-A
The cI-y for th~ leq-osi- q city FINDS in
s4l1 bark ana the payment XXI i-te-e~-
thereon pursuant I1 Ihv designation ~ y
board = which Inc mayor vRs mem
be-- ir a5ol-i1- Mayer Wan Wyck sass
TIA. Mayer Strong waS director ana
s-5ckholde- in The View York. Lake Ere
Western Railway an1 rhat -his rall-
ROAD company held % franchises ana dock
privileges IL the .i-v 81 New YORK
H. claims TIT tha allegations COM
tanned il the charge = tn effect thai
the knickerbpcker Ict Co- M Maine.
g-ther Rith the Consolidated lie to-
Of Maine. wee about 70 oecurne r1eTE-
20 in tha American Ice r1. az New
Jersey jill the yea- 1895. were na-
known or understood bv l1irl. and that
he ha5 m knnwledg@ nj information
~ any merging un-n he received the
printed circular offering Al exchange
n stock.
He saws that when he acquired iis
stock IT the American Ice O.. tha.
\ rrpany rad no interest I'D the Con
s,fi1ated Ic- 70. He says inst Re ~
not guilty Of he first charge made
AGAINST him. which j. -nalfaasance tn