The Savannah morning news., 1900-06-10
VAN WYcK ON WITNESS STAND
NEW YeRK's MAYOR TELLS ABOUT
HIS ICE TRUST STOCK. r


Says He owns 1900 shares which
He Got In Exchange for Knicixer-
booker Ice Company stock-Bof-
rowed Money From u Bank-Bank
President said Money Wns Loaned
to MOrse-van Wyck Says He Lost
Money on 1t.
New York, June 9-Mayor Van Wyck
was called TO the witness chair to-day in
the proceedings against the Mayor. tho
dock commissioners and Charles W.
Morse. president OF the American Ice
Company. which were begun some time
ago before Supreme Court JusGce Gaynor
in Brooklyn.
These proceedings are designed to show
what, II any. connection exists between
certain city officials and the ice COM
pany
The Mayor testified that he owned 4.tno
shares of the stock of the American Tos
Company, which he had obtained frcO
President Morse. some OF it in exchange
fer stock in the Kpickerbocker Ice Com
pany OF Maine.
did you purchase all this stock suts.-
quently to becoming Mayor OF the cty?"
Mr.. Van Wyck was asked.
Il did"
why did you purchase stock in the
Kmckerboeker Company?' 't
Because IL was paying 4 per cent. on
common and per can't on preferred
stock"
Mayor Wns Ignorant
when he made the purchase he did not
know that the American Ice Company
inter ded TO d. business in New York
La haA ,aga bIa xr,tth =.
check on the Garfield National Bank and
borrowed 75 per cent. OF The purchase
money.
When you made the purchase it was
agreed that you should torrow from the
ban.:?' He '4}
1T was"
Was there any guarantee 10 protect
you against loss on that stock?'
mo"
Have you paid back the bank?"
II have"
Are you accustomed to such large
financial transactions?"
II am"
For the money borrowed the Mayor
said, he gave four. five and six months
notes He has paid two notes for SS-
Coo each, and yesterday, paid one cash
note for $4,000 Continuing. the Mayor
said:
Said He Lost 81 900.
Inc lHtttGSN OIL tilC NOTES was . HrT
cent. When ! made the renewal OF the
note. the block of stock was worth &i,-
900. but sold It yesterday for SIS, 600. Tie
note called Cor $4,000, so I lost N0oD.yf
took no active interest IN the American
Ice Company. I never knew anythinE1of
IDS management. never knew that the
American Ice Company was to have any
monopoly OF the ice business OF the city
| never knew they had any leases.
| never knew that the ice company stated
to the Stock Exchange. that 1t had q con-
tract for eleven docks in this city"
President Gelshenol, of the Garfield Ma
tional Bank. testified that no loans wete
made to Mayor Van Wyck. but that $50
900 was loaned to President Morse OF tho
ice company. M
Mr. Morse testified that he did not talk
with the Mayor about buying Ice COM
pany stock. and that the company gce
it's dock privileges in the usual way. from
the Dock Commission. tN
The examination of Dock Commissior,-
ers Cram and, Murphy disclosed that they
owned large blocks of ice company stock
at the time docks were awarded to the
company's use. ~
Received II as n Bonus. fs..
Dock Commissioner Cram said he hsd
received 300 shares of common stock Of
the knickerbocker Ice Company asN q
bonus. He declared that he had sold ALI
of his stock in October, 1899 because he
| thought the matter might come before
him in his official capacity. He said four
leases were made 20 the Consolidated Ice
Company. while he wos holding ice stock.
Vice President J. E. Schoonmaker, ot
the American Ice Company. said he had
no personal knowledge that the ice trust
furnished ice to the city The price vf
ice was advanced from thirty to sixty
cents. because Of short supply. s+
Mr.. Peckham took the examination CT
j. F. Carroll, in hand personally. Carroll
confessed 10 an interest In both the Con-
solidated and Knickerbocker Companies.
He subscribed for $4,000 worth of stoois
in the Consolidated. He never. knew
how much stock the Mayor held until to-
day. tt. &